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MBL at North Dakota Credit Unions Make Them the Tops

If there was ever an argument that member business lending is good for credit unions, its in the state of North Dakota.

By Heather Anderson | Updated on September 10, 2012

If there was ever an argument that member business lending is good for credit unions, it’s in the state of North Dakota. Of the Peace Garden state’s 23 state-regulated credit unions, about two-thirds were originally chartered to provide communities with agricultural buSiness loans, said North Dakota Department of Financial Institutions Commissioner Bob Entringer. Because of that original charter, those credit unions are exempt from the current member business lending cap of 12.25% of assets, he said.

That loan activity, which has boosted the state’s loan to assets ratio, also drives its financial success, Entringer said. The state’s DFI monitors credit unions that exceed 85% loans to assets, and even though only four credit unions currently do so, he said, there are “fair numbers that are large and bumping up right against it.”

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