GREENSBORO, N.C. – Secondary market player Charlie Mac has been a home run for corporates and U.S. Central so far. The secondary market subsidiary of U.S. Central has become a real tool for credit unions trying to reduce interest rate risk or free up space in their loan portfolios. Recently Charlotte Metro CU and Carolina Trust FCU sold auto loan portfolios through Charlie Mac's CarPool program via First Carolina Corporate. First Carolina member CUs have sold over $115 million in CU loans to Charlie Mac. To drum up business, First Carolina offered CUs additional yield to CUs who closed deals with Charlie Mac by the end of '04, which both of these CUs took advantage of.
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