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Navy Federal Seeks Partners to Grow MBL Programs

With a robust business deposit program and ample room to grow its business loan portfolio, Navy Federal Credit Union wants to create alliances across the country to help other credit unions expand too.

By Michelle A. Samaad | Updated on July 16, 2012

With a robust business deposit program and ample room to grow its business loan portfolio, Navy Federal Credit Union wants to create alliances across the country to help other credit unions expand too.

On July 1, the $49 billion cooperative in Vienna, Va., launched its commercial participation loan program in an effort to help credit unions grow their business lending programs. Through C-PaL, partnering credit unions would originate the loan and Navy Federal would be the buyer of between 40% and 60% of the loan amount, said Jim Salmon, executive vice president of business services at Navy Federal. The entire transaction, including the loan amount, would be looked at on a case by case basis, he added.

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