updated 11/30/12 03:05 PM
CUSO Offers Valuable Services, Expertise
Since 2003, Members Business Services (MBS) has opened up opportunities for credit unions through exceptional business lending and deposit services.
As a credit union service organization (CUSO), MBS allows credit unions to efficiently work with one provider to offer a complete line of business loan and deposit products to their members, including all related back-office services. MBS also sets up and manages all required vendors, and offers immediate access to decision makers with industry knowledge and experience.
Kitty Warrington, director of business banking for SCE FCU, has worked in credit unions since 1976, but had never worked with commercial accounts or business lending until she was promoted to her current position two years ago. "Having a group of individuals seasoned in commercial lending was a huge comfort to me going into this new area of financial service," she says.
Warrington says the MBS team's expertise in SBA loans and its comprehensive knowledge of various industries and business structures are critical factors, especially for credit unions either seeking to increase their commercial loan portfolio or offer business loans for the first time. "It’s not only a requirement, but it’s a huge advantage to know you can trust their recommendations because of their collective experience," she says.
"I think of them as my underwriting department." And on the servicing side, Warrington says, "they are the administrative part of my business department which allows my internal team to focus on sales."
Warrington adds that MBS servicing "offers a full spectrum of service, in addition to maintaining the individual loan balances and payment processing--from title transfers to sending collection notices to insurance tracking."
To learn more about MBS, contact Leagues Lending Solutions Manager Joyce King at 909.212.6017 or joycek@ccul.org, or visit www.membersbusiness.com.
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