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History
Northeast Member Business Services, LLC (“Northeast”) is a credit union service organization headquartered in Keene, New Hampshire. Northeast’s business is to help credit unions enter the small business loan/deposit market, safely and profitably. Following completion of its development phase in late 2004, Northeast launched its small business program with its first credit union participant (“Partner”) during the second quarter of 2005. Northeast has grown steadily and continues to add employees, partners, and services as it pursues its key goal of remaining one of the top small business CUSOs in the country.
Partners
Northeast has continued to add Partners in order to maximize opportunities in the business service markets. Northeast’s Partners currently include:
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These Partners comprise a network of approximately 60 branches, through which business products and services are sold. Northeast has processed over $250,000,000 of its partners’ small business applications.
Ownership/Leadership
Northeast is extremely well capitalized for the business it operates, with $2,500,000 of equity at this time; more capital may be added to expand operations and develop new products for the small business and other markets. Owners include:
- Workers Credit Union
- RTN Federal Credit Union
- Metro Credit Union
- Medical Area Federal Credit Union
- HarborOne Credit Union
- Westerly Community Credit Union
Northeast’s owners are exceptionally sound financially, with approximately $3,000,000,000 in aggregate assets, $300,000,000 in aggregate equity, and an average net worth/total assets ratio exceeding 12 percent. Northeast’s Board of Managers is comprised of some of our industry’s top CEOs, who work closely with management to ensure long-term success for the CUSO and its partners.
