ALEXANDRIA, Va.–A video on the advantages of member business lending has been released by NCUA.
The video, available here, outlines the elements of an effective member business lending program. The video also highlights how member business lending, if managed correctly, could benefit credit unions, their members and their communities. A key factor in successful lending is having the right people, processes and policies in place to ensure safety and soundness, NCUA said.
The agency noted that credit unions now have greater latitude to make commercial lending decisions under its recently revised member business lending rule. That rule permits credit unions to tailor their member business lending programs to fit their strategic goals and their members’ needs.
Most of the provisions of the final rule become effective Jan. 1, 2017.