PRZOOM - /newswire/ -
Los Angeles, CA, United States, 2012/11/20 - Business Partners, a full-service member business lending Credit Union Service Organization (CUSO) announces new ownership. The new owners include Farmers Insurance Group Federal Credit Union, Great Lakes Credit Union and Public Service Credit Union.
The National Credit Union Administration (NCUA), who took control of the organization as the liquidating agent of Telesis Community Credit Union, recently reached an agreement to sell the controlling interest to a managing-partner group consisting of three large credit unions. The new owners include Farmers Insurance Group Federal Credit Union of California, Great Lakes Credit Union of Illinois, and Public Service Credit Union of Colorado.
Business Partners is owned by sixteen credit unions nationwide; however, Farmers Insurance Group Federal Credit Union, Great Lakes Credit Union, and Public Service Credit Union are the principal owners.
This move ensures that Business Partners will remain under the control of credit unions and will continue as a CUSO operating for the benefit of its owners and customer credit unions. Shareholders are pleased that the NCUA chose to sell and keep control within the credit union industry.
Business Partners will continue to specialize in all areas of member business lending, including loan origination, loan participation, servicing and quality control, while providing extraordinary service and dependability.
Business Partners has been audited and examined on a continuous basis to ensure safety and soundness. In addition to its California-based staff, Business Partners has four regional representatives who have been assigned strategically throughout the U.S. to work directly with credit unions to meet their member business loan volumes.
Business Partners provides quality and affordable services to credit unions nationwide while developing strong relationships with credit union and regulatory communities.
For further information, please contact Dave Maus, CEO, Public Service Credit Union at (303) 639-2100, or davem[.]pscu.org. For more information on Business Partners, visit businesspartnersllc.com/.
For more information on the three primary credit union owners, please visit their websites below.
Farmers Insurance Group Federal Credit Union figfcu.org
Great Lakes Credit Union glcu.org/. | Public Service Credit Union pscu.org/.