Ep136: The Credit Union's Lending and Investing Power - Mark Ritter

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Are you a business owner looking for funding to help your company grow? Today, we asked credit union expert Mark Ritter to share what makes a credit union a critical funding source and how it can be flexible enough to deal with rising interest rates. Find out what makes someone creditworthy here!

WHAT YOU’LL LEARN FROM THIS EPISODE

  • Credit union: Its products and services
  • Real estate market a year ago vs. now
  • The most desirable asset for lenders
  • Lender’s perspective on the effects of rate hikes on lending
  • Ways to underwrite amid rate hikes
  • How the company's core commitments can benefit you with lenders

RESOURCES/LINKS MENTIONED

ABOUT MARK RITTER

A native of Berwick, PA in northeast Pennsylvania, Mark Ritter is the CEO of MBFS and an expert in credit unions and business lending. His primary role at MBFS is overseeing the strategy of helping credit unions assist members with business needs and consulting with credit unions on planning the delivery of services to their membership. In 2002, Mark started Members 1st Federal Credit Union’s business lending program as “one person and a desk” with no policies, products, staff, systems, or business members. That program grew to be one of the top ten in the nation. In 2012, he took on the challenge of being the CEO of a business lending CUSO. Mark was the fifth CEO in five years for the organization, which lost money every month of its existence. Since joining MBFS, Mark increased the number of credit unions the CUSO services by over 8x, grew the revenue by , and 10x, and ensured positive cash flow every full year he’s been at the CUSO. More importantly, MBFS has helped countless credit union members gain the financing they need for business and investment needs.

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