After seeing a prolonged period of stalled consumer lending, Susan Enis knew it was time to go shopping.
"Like with a lot of other credit unions, consumer business is drying up. Rather than stare at an empty bread box, we had to go to the pantry," said Enis, president/CEO of the $482 million United States Senate Federal Credit Union in Alexandria, Va.
That search led to the June launch of CU Strategic Services LLC, a CUSO that will assist credit unions of all sizes on the East Coast with the process of buying member business loan participations. CU$$ will offer consultative support to develop procedures for loan participations, to solicit lenders and loans and to offer an opinion about the validity and the quality of each opportunity.
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