Five Keys to Growing Business Deposits – One Credit Union’s Story

Five Keys to Growing Business Deposits – One Credit Union’s Story

By Larry Middleman, President/CEO Credit unions are looking to build long-term, meaningful relationships with their business members. Leading business lending credit unions realize that a robust, comprehensive deposit program is often the best way to capture the full relationship of larger, more sophisticated operating businesses. At CU Business Group’s 2016 National Business Services Conference in…

Securing Your Collateral – Establishing and Perfecting Liens

Securing Your Collateral – Establishing and Perfecting Liens

By Nick Reynolds, VP, Credit Services Manager The risks associated with business lending differ significantly from those associated with traditional consumer lending.  While consumer information is still an important part of knowing your member, the types of risks associated with commercial loans tend to be more varied, and wider in scope.  This article is one…

New FinCEN Rules Require Credit Unions to Identify all Beneficial Owners of Legal Entity Accounts

By Claire White, Deposit Services Officer On July 11th 2016, new FinCEN rules clarifying and strengthening customer due diligence requirements went into effect. Credit unions will have until May 11, 2018 to comply with the rules. The new rules contain explicit customer due diligence requirements and include a new requirement to verify the identity of…