Adaptable software for a unique organization
Cooperative Business Services (CBS) was founded over 20 years ago as a commercial lending operations center for credit unions to cost-share and collaborate in the origination, underwriting, closing, participation, and servicing of commercial loans. Like many credit union service organizations (CUSOs), most of its loans are participated or syndicated. As CBS grows and expands its products and services, vendor relationships and creating efficiencies are increasingly important to delivering continued profitability.
When CBS executive management initially looked for software to streamline loan processes, the primary hurdle was finding one that would fit their unique CUSO needs and budget. They needed software that would allow them to report on individual loans and provide reporting oversight for their credit unions, boards, auditors, and examiners. CBS was also looking for software that worked with their Fiserv Premier core, allowing them to create their processes for CUSO-specific functions.