CHICAGO – San Antonio Credit Union during April hit the $700,000 mark in funded retail loans, as it continues to average between $500,000 and $800,000 per month with such loans.
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SACU’s Jacob Montoya said the credit union is aiming to hit $1 million in funded retail loans per month.
The average retail loan at SACU is around $5,500, for everything from home improvements to air conditioner repair. Montoya said SACU targets merchants that have an existing relationship with the credit union, that have been in business for at least two years, that are on Angie’s List, and are affiliated with the Better Business Bureau.
Montoya’s comments came during CU Direct Lending’s (CUDL) Conference here.
