ARLINGTON, Va.-NAFCU Services Corporation CEO Keith Nolan said the group will be sending out a request for proposals shortly for member business loan software providers. Member business lending is growing increasingly popular among credit unions, Nolan observed. "Obviously, the big bugaboo is how do we do it," he explained. Nolan said NSC's advisory committee and other sources provided him a list of companies to target with the request for member business lending application processing software. Once responses are in, a third party creates a competitive matrix, then NSC's Board approves the preferred partner and finally, NAFCU's Board makes its recommendation. NSC has 15 `Preferred Partners' already, including J.R. Bruno and Associates for business lending in general. Each mutually exclusive partner offers NAFCU members special rates and discounts.
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