Iowa Credit Union League partners with Credit Union Loan Source

The Iowa Credit Union League (ICUL) has formed a new partnership with Credit Union Loan Source (CULS) to bring a low-risk, high quality loan participation program to state chartered credit unions in Iowa.

“We are pleased to have an opportunity to help bring the Credit Union Loan Source program to Iowa credit unions. We believe the CULS program is an excellent investment solution for our credit unions, it checked all the boxes for us. They have a long track record of success, and their loans are low risk but can provide an excellent source of revenue, which will feed back to Iowa credit union members throughout the state.” says Matt Oakley, chief operating officer for ICUL.

“CULS is proud to partner with such a well-respected organization. The Iowa League has a tremendous reputation throughout the credit union industry for identifying and developing sound product solutions for their members, for them to recognize CULS as a trusted partner is truly an honor.” said Kevin Usiatynski, chief revenue officer.

The first Iowa credit union to partner with CULS, Members Community Credit Union in Muscatine, started on the program in January. Their Chief Executive Officer, Tim Chapman says, “What attracted me to the CULS program was their unique monthly subscription model. It gives us a monthly flow of new loans onto the balance sheet, and since we’re buying brand new loans each month, it takes away a lot of the interest rate risk, which is important to our members in this environment.”

 

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