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Banks Renew Lures for Small Businesses

05-08-13 - CU Times - Banks such as Capital One, Bank of America and Wells Fargo are back, touting lower interest rates and prime terms to woo small businesses, said Frank Amantia, president/CEO of Mid-Atlantic Financial Partners LLC, a business lending CUSO, that is a subsidiary of the $286 million Mid-Atlantic Federal Credit Union in Germantown, Md. Over the past decade, the CUSO has facilitated more than $150 million in commercial and business loans, Amantia said.

It currently services more than $80 million for its credit union clients. Mid-Atlantic Financial is owned by four credit unions and has affiliate or transactional relationship with 15 credit unions. "Terms are being offered that most credit unions can't compete with," Amantia said. "It wasn't that many years ago that credit unions couldn't find deposits to save their lives. The money was going to banks. Then when the ­economic downturn took place, there was a flight to safety. Banks were in distress and credit unions were the safe haven."

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Returning Competitors, Cap Fight May Alter MBL Scape

01-09-12 - CU Times - Having more than enough money to lend would seem to be a good problem to have. For many credit unions, however, the economy’s stalls and starts to recovery in 2011 kept members more focused on paying down debt and trimming expenses. Taking out new loans? Not so much. 

Still, the NCUA reported that credit union lending increased to $567.1 billion at the end of the third quarter, the latest period tracked. That figure is a $3.1 billion increase over the second quarter last year. On the other side, credit unions had $819.2 billion in shares as of Sept. 30, with nearly $7 billion in deposits for the third quarter.

In the midst of it all, member business loans, had the highest growth with a 12-month increase of 5.9%, according to Callahan and Associates Inc. Despite that status, last summer, the firm reported an easing of overall balance growth due to fewer credit unions starting new MBL programs. 

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MD. Credit Unions Making More SBA Loans

10-22-10 - Baltimore Business Journal - Credit unions are also doing more SBA loans because those loans don’t count against limits on how much commercial lending they are allowed to do. By law, credit unions have to keep commercial lending to under 12.25 percent of their assets. But with SBA loans, only the portion of the loan not guaranteed by the SBA counts against the cap.

Bankers say the cap is fair because credit unions get a lot of breaks they don’t. Credit unions don’t pay taxes, their regulators are not as tough and they don’t have to invest in their communities under the Community Reinvestment Act.

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Credit Unions Step Into Lending Gap Left By Banks

02-15-10 - Baltimore Business Journal - Germantown-based Mid-Atlantic Federal Credit Union, which serves anyone who lives, works, attends school or practices religion in Montgomery County, expanded its business lending last year when it hired a three-person small business lending team that once worked together at PNC Bank.

Mid-Atlantic made $17.9 million in business loans last year, which accounted for 13 percent of all loans made at the organization. The loans are handled through the institution’s affiliated credit union service organization, Mid-Atlantic Financial Partners LLC.

Mid-Atlantic Financial Partners has seen a lot of demand from small businesses that can’t get loans from banks, said Frank Amantia, the organization’s president and a former banker.

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Credit Unions Seek Larger Share Of Business Loans

02-09-10 - Washington Post - The names of small businesses seeking loans are scrawled across a whiteboard in the Bethesda offices of Mid-Atlantic Financial Partners: A Denny's franchisee with plans for a new restaurant, the owner of a limousine fleet hoping to consolidate his auto loans, a government contractor seeking a line of credit to fund expansion, the owners of a medical office building in Leesburg looking for a mortgage.

Most of the businesses came here after their requests for financing were rejected by one or more banks. Mid-Atlantic is not a bank: It is mostly owned and funded by a local credit union, Mid-Atlantic Federal Credit Union. And at a time when banks are making fewer business loans, Mid-Atlantic is expanding dramatically, lending $32 million to small businesses last year and planning to lend $50 million this year.

"Credit unions by their nature are designed to serve the underserved," said Frank Amantia, president of Mid-Atlantic Financial. Banks, he said, "have not stepped up to the plate and filled that need" of local businesses seeking loans.

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Mid-Atlantic Federal Credit Union Expands Biz Lending

03-09-09 - Washington Business Journal - Mid-Atlantic began making business loans six years ago when it hired Frank Amantia, now chief lending officer. Amantia, formerly with Chevy Chase Bank, also launched Mid-Atlantic Financial Partners LLC, a credit union service organization that provides back-office commercial lending functions for Mid-Atlantic and others.

Only 17 of the 133 credit unions based in the Washington area make business loans, including Navy Federal Credit Union, Pentagon Federal Credit Union and Lafayette Federal Credit Union, which make the most.

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Mid-Atlantic Financial Partners Poised to Rev up Business Services Engine in 2007

10-04-06 - CU Times - Mid-Atlantic Financial Partners, LLC said 2007 will be the year that it revs up expanding business services to other credit unions.

Launched in 2003, the CUSO is owned by $200 million Mid-Atlantic Federal Credit Union and $1.7 billion Visions Federal Credit Union. It currently serves its two owners and has amassed $20 million in commercial loans for both credit unions. MAFP has also done loan participations with a half dozen credit unions. For 2007, the CUSO said it will also offer its consulting services to help credit unions evaluate potential expansion opportunities.

"I believe that the CUSO can do the same for many other credit unions--whether they are interested in using this resource as a one-time service or becoming a part-owner for the long-term," said Charlie Thomas, CEO of Mid-Atlantic FCU.

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