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WesCorp-Linked CUSOs Report 'Business as Usual'

For the time being, several CUSOs with ties to WesCorp said it's business as usual days after NCUA placed one of the country's largest corporates into conservatorship.

By Michelle A. Samaad | Updated on March 23, 2009

For the time being, several CUSOs with ties to WesCorp said it’s business as usual days after NCUA placed one of the country’s largest corporates into conservatorship.

In 2003, WesCorp purchased equity shares in Business Partners LLC, a CUSO launched by Chatsworth, Calif.-based Telesis Community Credit Union. The member business lending CUSO has 180 CU clients and has serviced more than $1 billion in loans. Telesis President/CEO Grace Mayo said “there is no impact to Business Partners in regards to the recent events [with] WesCorp. [It's] business as usual.”

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