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New Owners Seek to Rebuild Business Partners Brand

When a litany of loan and management problems led to the demise of Telesis Community Credit Union earlier this year, the business lending CUSO it founded 17 years ago likely knew it would inherit a perception problem within the industry.

By Michelle A. Samaad | Updated on December 05, 2012
On its website, Business Partners said it specializes in funding a wide range of property types in a variety of markets nationwide.

When a litany of loan and management problems led to the demise of Telesis Community Credit Union earlier this year, the business lending CUSO it founded 17 years ago likely knew it would inherit a perception problem within the industry.

For the past nine months, Business Partners LLC in Chatsworth, Calif., has been operating under the management of the NCUA after the regulator was appointed the conservator of Telesis in March shortly after the California Department of Financial Institutions shuttled the troubled credit union into conservatorship.

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