CU Sol, LLC, a new model credit union service organization (CUSO) seeking to fill the resource gap and provide solutions for emerging credit unions and other financial institutions, has made a recent investment in CU Lending Edge, making CU Lending Edge a CUSO and subsidiary of CU Sol.
US Eagle FCU ($1B in assets located in Albuquerque, NM) and Coast360 FCU ($4000MM, located in Guam, a US Territory) have collaborated over the last two years to strategically develop and fund this next-generation product development CUSO. “CU Lending Edge is the next generation platform for emerging CUs to be able to participate in and play with the big players in the point-of-sale/indirect marketplace, and to build and compete in the Multi-Channel lending space” says Walt Agius, CEO of CU Sol.
“CU Sol’s mission is to provide solutions for emerging credit unions (small to mid-size) with products, services, and programs necessary to improve or enhance their service delivery and ultimately to enhance their bottom lines,” says Gener Deliquina, CEO of Coast360 FCU and one of CU Sol’s investor CUs. Further commenting, Deliquina said “We’re engaging for the first time in Indirect under the CU Lending Edge program. We’ve held off on implementing Indirect for years because we didn’t feel we had the experience or systems to support a program. CU Lending Edge was our clear answer and way into the market.”
“Coast 360’s comments and situation are not uncommon to us” says David Berver, one of CU lending Edge’s owners and Head of Operations and Funding for CU Lending Edge. The CU Lending Edge platform is a completely turn key program that positions any credit union of any size or field of membership to be able to implement and maintain a sustainable point-of-sale as well as full Multi-Channel lending program in any market. “The focus is on quality loan capture, not necessarily volume. We have small and medium size lenders that have been on the program for over 5 years, with no delinquency or charge off issues, as well as all having perfect regulatory exams,” Berver explains.
“We welcome inquiries and interest from credit unions of all sizes, but also industry suppliers and providers, state leagues and trade associations that are truly interested in helping their CU clients and constituents meet their loan growth goals,” says Agius.
“We’re two credit unions strong today and hope to be 20 -200+ strong in the years to come. We believe in this CUSO and its ability to affect great change in an underserved marketplace, and we welcome potential partners looking to achieve the same,” shared both Majors and Deliquina.
View the rest of our site for more information on CU Sol, LLC. For more information about CU Lending Edge, visit CULendingEdge.com. Feel free to reach out to Walt Agius, CU Sol’s CEO, at Wagius@CUSol.org. You can also get in touch via the contact form below.