Look Out Banks, Credit Unions Are Moving in on Business Lending
SNL Financial is reporting that business lending at credit unions has increased by 66.47% in the past five years. The driving factors for the rapid increase appear to be a desire for portfolio diversification, increased yield, and NCUA’s proposed changes to its MBL rule that has many credit unions rethinking adding MBL products. The article further states that credit unions are increasingly taking SBA-backed loans away from community banks. [12/24/15]