NORTHRIDGE, Calif.–Extensia Financial, a CUSO that provides member business lending and advisory services, said that Firefighters First CU has joined it as a minority owner. This is in addition to several other prominent credit unions’ ownership of Extensia.
Firefighters First Credit Union initially partnered with Extensia to strengthen its current business lending program and then took a deeper interest in partnering with the CUSO to generate additional non-interest income through a minority ownership of Extensia, the company said.“We see that member business lending is a central part of credit unions’ future success and financial performance,” said Mike Mastro, president and CEO of Firefighters First Credit Union. “Our credit union is confident that Extensia’s growth will continue and provide an additional revenue stream that will benefit our members.”
“We are honored to welcome Firefighters First Credit Union to the Extensia family,” said CEO Pamella Easley. “Firefighters First Credit Union clearly understands the value of offering member business lending services to his members and we are delighted to share the common goal of a promoting safe and profitable member business lending services to the credit union community.”