MARLBOROUGH, Mass.—The Cooperative Credit Union Association has launched “Marketplace Mondays,” which it describes as a business-to-business showcase designed exclusively for credit union leaders.
The premiere episode attracted approximately 300 people.
The CCUA said it has “turned the traditional trade show experience inside out – breaking what used to take place in convention centers and last for days into ‘bite-sized’ segments, and introducing an innovative virtual format that feature discussions with experts from many spheres on topics relevant to today’s credit union executives intermingled with exceptionally-produced recorded ads from premiere industry vendors.”
“Our hybrid webinar/TV style format for Marketplace Monday’s is one of the most innovative in the credit union system,” said CCUA President/CEO Ron McLean.
“The fast-paced segments give our credit unions insights and solutions on a wide variety of timely topics from leading industry partners.”
The CCUA said over the next nine weeks, viewers will be invited to tune in at www.ccua.org/live, as “Marketplace Mondays” spotlights “cutting-edge financial products and delivery channels from some of the industry’s premiere business partners, along with valuable insights and updates on the credit union industry.”
NY CUs Support PPP Loans
Credit unions in New York State have facilitated more than 9,250 Payroll Protection Program loans since the program’s inception. The PPP loans totaled more than $429,756,000, according to information released by the Small Business Administration as well as data collected via a member survey conducted by the New York Credit Union Association (NYCUA).
The SBA data also showed that 60,135 jobs in the state were saved by these credit union facilitated loans, the NYCUA said.
“This is another great example of New York credit unions making a difference in the state and in their local communities,” said William J. Mellin, NYCUA president/CEO. “Many of the state’s credit unions stepped up to get certified by the SBA to offer PPP loans to their members and then helped members through the complicated process of applying for these loans. Their efforts helped save more than 60,000 local jobs and helped support the economies of their communities. Their efforts to help businesses in this difficult time truly exemplified the credit union mission of ‘people helping people.’”
MBC MBL Portfolio Exceeds $1 Billion
In Ann Arbor, Mich., Michigan Business Connection (MBC) said it is now managing credit union MBL portfolios exceeding $1 billion. MBC said it is the first single state-focused MBL CUSO to achieve this milestone.
“While there are several measures of success that Michigan Business Connection uses, the company’s loan portfolio growth demonstrates the impact a CUSO like MBC can provide to its credit union partners, businesses and the local economy,” the organization said. “Assets under management also is important as it reflects the level of trust that credit unions have in the CUSO to help manage the risk of their portfolios. MBC’s portfolio servicing support includes all aspects of billings, accounting, monitoring, and collections. The portfolio includes credit unions and their borrowers from 51 counties across Michigan.”