Reach Business Lenders®, LLC
, - begun as a collaboration among Wisconsin credit unions to expand their service to members and increase income - is approaching its second anniversary and $60 million in loan originations and participations.
Jointly owned by the W.C.U.L. Services Corp and WISCUB, Inc., Reach was launched in response to Wisconsin credit unions’ request to help them respond to members’ business lending needs, increase their loan volume and handle the operational and regulatory complexities of doing so.
- Has closed more than $50 million in loans for more than 25 Wisconsin credit unions. About half of these credit unions weren't actively building business lending portfolios prior to working with Reach. Credit unions as a whole have been making business loans since their inception in the U.S. more than 100 years ago.
- Has created more than 180 individual loan participations, improving credit unions' income statement performance.
- Holds monthly board meetings to refine its service to credit unions. The Board includes:
- Chair - Brett Thompson, League President/CEO
- Vice Chair - Kelly Hladovcak President, Valley Communities Credit Union
- Secretary - Debbie Woods
- Treasurer - David Hall, League EVP/CFO
- Director - Kevin Hauser, President, Westby Co-op Credit Union.
- Trains lending professionals statewide at periodic meetings across the state.
- Communicates regularly with the Office of Credit Unions about issues of importance to participating credit unions.
Meeting Wisconsin’s need for increased small business lending is a move toward improved service excellence, an action step in our Movement's blueprint to compel more Americans to use credit unions as their best financial partner.
Wisconsin credit unions leverage their membership in The League to create new opportunities like Reach that improve their operations and service.
Contact David Hall at (608) 514-0084 or Robert Bishop at (608) 514-0079.
Wisconsin credit unions come together as a single League to Unite for Good; we remove barriers, increase awareness and foster service excellence. All of these steps help more Americans to see credit unions as their best financial partner and regard their credit union as their primary financial institution. Read more articles in our Unite for Good series.