Member Business Financial Services, LLC (“MBFS”) is a Credit Union Service Organization jointly owned by American Heritage Federal Credit Union, Viriva Community Credit Union, American Spirit Federal Credit Union, Pentagon Federal Credit Union, Discovery Federal Credit Union, People First Federal Credit Union, Erie Federal Credit Union, Choice One Community Federal Credit Union, Eagle One Federal Credit Union, and Service 1st Federal Credit Union.
MBFS assists credit unions to fund business loans within their markets in order to meet the strategic goals for their organization. The CUSO provide credit analysis, loan document preparation, relationship management, and loan servicing for credit unions as deemed prudent by our Board of Directors and in the best interests of Member Business Financial Services and our credit union partners.
The CUSO had three employees at the start of operations in 2008. Additional personnel have been added as business volume demanded and the CUSO now consists of the following personnel:
In January 2016 MBFS finished the process of consolidating operations with Keystone Business Lending Solutions, LLC (“KBLS”) of Wexford, PA. KBLS had three full-time staff members that were incorporated into the CUSO. The CUSO maintained the KBLS office in western Pennsylvania in addition to the headquarters in suburban Philadelphia. Support personnel for Information Systems, Accounting, Facilities, and Human Resources are provided through American Heritage FCU.
Member Business Financial Services has focused on becoming the preferred partner for credit unions in the Mid-Atlantic and northeast United States business lending marketplace. The past five years have seen a strong growth pattern to the credit unions in the loans under management and funded by the CUSO. In addition to the portfolio growth, MBFS has grown to serve 45+ credit unions and $600 million in business loans.
The term “CUSO” means that the business entity is owned by credit unions and primarily serves credit unions or members of the CUSO owners or clients. CUSOs can offer a variety of financial and operational services such as mortgages, insurance, title insurance, or (in the case of MBFS) business lending support. By working cooperatively, credit unions can offer services to their local community in a more cost effective manner than they could individually.
Mark Ritter is the CEO of MBFS and brings an extensive background in credit union business lending to the organization after joining the organization in 2012.
Mark was the founder of Members 1st FCU's credit union business lending program that grew to be one of the top ten in the nation in number of loans and balances outstanding for federal credit unions. In addition, Mark developed a participation program that grew to one of the top buyers and sellers of credit union business loans in the eastern United States. He has done extensive work with branch retail staff, business lending operational and sales staff, and credit unions throughout the Mid-Atlantic States to educate and train them on the merits of member business lending. His primary role at MBFS is leading the day-to-day operations of the organization and consulting with credit unions on planning the delivery of business services to their membership. Mark is a native of Berwick, PA and a graduate of Penn State University.
MBFS creates a culture where employees feel valued and rewarded! The benefits that we offer help create a workplace environment where everyone can thrive.