When State Employees' Credit Union initially created its loan review committees, the intent was to allow actual members to take another look at loans that were denied at the branch level.
Members selected by the $27 billion cooperative in Raleigh, N.C., reviewed the declined applications and frequently met with the denied members to discuss the loans and offer another source of consideration for possible approval.
On April 2, SECU's board of directors said it approved expanding the credit union's 13 member-loan review committees from 85 members to 276 serving on the peer councils.
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