SAN FRANCISCO-Truliant Federal Credit Union CEO Marc Schaefer said entering the member business lending arena was a win-win situation for his institution. Not only has it helped his credit union reinforce its mission but, at the same time, member business lending is helping them to diversify and manage risk, the CEO told attendees of NCUA's Partnering and Leadership Successes workshop on member business lending. The nearly $1 billion Truliant has accomplished this through 327 member business loans with a total balance of $13.7 million at an average of $42,074 a loan. Truliant has made loans for businesses such as a bed and breakfast and a taco stand. Schaefer added that NCUA's updates to its member business lending rule has been helpful. The provisions that have made the biggest difference for Truliant have been the 100% vehicle financing, simplification of documentation, changes to the unsecured limits and personal guarantees, and the expanded Credit Union Service Organization powers.
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