SAN FRANCISCO-One western low-income credit union is using Farmer Mac to leverage its member business lending and greater serve its members needs. Farmer Mac-a secondary market government sponsored enterprise for long-term agricultural real estate loans-can provide up to a 90% guarantee. Old West Federal Credit Union CEO Ralph Goodwin explained to the attendees of the Partnering and Leadership Successes member business lending workshop how his credit union has made great strides in its member business lending portfolio with the help of Farmer Mac. The advantages, he listed, on top of the 90% guarantee include a 0.5% origination fee paid to the lender on top of the 1.3% servicing fee income. Using these advantages, the $55 million OWFCU was able to generate net income of $1,069,008 in 2003 and a 2.1% return on assets. Farmer Mac origination and service fee income accounted for 43% of that net income, or $457,965. Twenty-two percent of OWFCU's business loans were sold by the credit union while its Credit Union Service Organization sold another $21 million. With just $482,000 invested in CUSO stock, retained earnings since 1999 total $805,143.