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Article: Three Credit Unions in Wisconsin's Fox Valley Join to Become Lending Force.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 14, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Paul Gores, Milwaukee Journal Sentinel Knight Ridder/Tribune Business News
Jan. 14--A joint venture of three Fox Valley credit unions set up to offer business loans is off to a fast start, a fact that troubles bankers opposed to the lending arrangement.
Since issuing its first loan in late 1999, the Neenah-based Business Lending Group has generated more than $60 million in loans. The loans have averaged $350,000, but some have been in the millions.
"That's an excellent start," said David L. Donihue, a partner in the Financial Institutions Group of the Wisconsin accounting and consulting firm Virchow, Krause & Co.
Donihue said ...