In 2012, the NCUA reported nearly 1,500 federally insured credit unions had loan participations with total balances of nearly $13 billion.

That figure may be the result of credit unions using CUSOs to underwrite, document and service loans. CUSOs locate prospective borrowers through loan brokers then select a credit union to be the loan seller based on where the borrower is a member or would qualify for membership. 

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