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CU Lending CooperativeCU Lending Cooperative is a unique CUSO offering automated, high yield, high speed, loan origination technology and loss protection. CULC was developed to bring the credit unions into the lucrative arena of marketplace lending where banks and innovative lenders like Rocket Mortgage are already reaping the benefits of instant, intelligent loan origination.
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CU Lending Cooperative is a proud Platinum Partner supporting NACUSO, the National Association of Credit Union Service Organizations. Formed in 1984, NACUSO helps credit unions explore the use of CUSOs and the delivery of non-traditional products and services. Over the years, NACUSO’s focus has evolved to helping credit unions form multi-owned CUSOs and participate in collaboration and the cooperative business model. Our highly competitive marketplace and the industry’s changing regulatory environment require our businesses to work faster and smarter. Therefore, the synergy between Credit Unions and CUSOs has never been more important. The treasury of knowledge offered by NACUSO and shared among its membership is more relevant than it has ever been.
Team
Mike Joplin
President |
Mr. Joplin has over 35 years experience in commercial banking and consumer finance. Prior to founding Credit Union lending Cooperative, he was co-founder and Chief Executive Officer of Credit Solutions Corp. founded in 1997 and prior to that founded West Capital Financial Services Corp. in 1989 which was sold to SunAmerica in 1999. West Capital was one of the first successful issuers of BBB-rated asset-backed notes collateralized by collections from $3 billion of charged-off credit card accounts. Following the sale to SunAmerica, West Capital’s operations and systems provided the operational plumbing for its successor entity, Encore Capital Group, a publicly traded company with a market capitalization over $1.7 billion. Mr. Joplin has also founded two thrifts and one independent bank.
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Raechelle Joplin
Co-Founder Chief Financial Officer |
In addition to being the co-founder of Credit Union Lending Cooperative, Ms. Joplin is the Chief Executive Officer of its servicing and collections subsidiary, Credit Solutions Corporation, Chief Executive Officer of its consumer finance subsidiary and Chief Financial Officer of its asset management subsidiary, CU Revest, LLC. Prior to founding Credit Union Lending Cooperative in 2010, she was co-founder and Chief Financial Officer of Credit Solutions Corp. founded in 1997 and prior to that founded West Capital Financial Services Corp. in 1989 which was sold to SunAmerica in 1999. West Capital was one of the first successful issuers of BBB-rated asset-backed notes collateralized by collections from $3 billion of charged-off credit card accounts. Following the sale to SunAmerica, West Capital’s operations and systems provided the operational plumbing for its successor entity, Encore Capital Group, a publicly traded company with a market capitalization over $1.7 billion.
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Tim Madigan
Board Member |
Timothy Madigan, CFA is currently the Managing Member of Backscreen Advisors, an advisory firm focused on debt and equity capital investments in the structured and specialty finance market. Tim is also currently a consultant to Twin Oaks Advisors, a media focused advisory firm. Previously, Tim was a senior member of Global Securitized Markets at Citigroup Global Markets Inc. focusing on debt and equity capital raising along with asset acquisitions primarily focused in the specialty finance sector. During this time, Tim oversaw the acquisition and sale of over $1.5 billion in loans acquired from marketplace lending platforms over a 12-month period. Immediately prior, Tim was a member of the Strategic Solutions group at Citi with a focus on sourcing legacy assets and portfolios for acquisition or financing from various financial institutions. Prior to Citigroup, Tim was head of Global Debt, Americas at Dresdner Kleinwort, managing multiple product areas focused on debt capital markets, credit derivatives, structured finance and tax arbitrage. Prior to Dresdner Kleinwort, Tim held senior management positions at HSBC in London and New York and at Chase Securities, now part of JP Morgan.
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Randy Dotemoto
Board Member |
Randy Dotemoto is an innovator in the alternative financial sector. A native of Manhattan Beach, Calif., Randy has spent his career creating new services to the underbanked in Southern California. He is well-versed in the needs of the consumer and understands what good, hard-working Americans need when it comes to alternative financing. Randy is the former Senior Vice President of Kinecta Federal Credit Union and President of their Nix Financial division. Mr. Dotemoto has also held a variety of other positions in the financial sector including: Chief Financial Officer, General Manager and Senior Vice President and Board of Directors Member of Nix Check Cashing, Chief Operating Officer, Chief Financial Officer and Executive Vice President of Kennedy-Wilson, Inc. and Director of Contract Services and Senior Audit Manager with Arthur Anderson & Co.
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Jack Antonini
Board Member |
Jack Antonini was appointed president/CEO of NACUSO in 2010. Jack was the former President & CEO of USAA Federal Savings Bank and member of USAA’s Executive Council (the top ten leaders of this diversified financial services company), when USAA FSB was recognized as “Best Bank in America” by Moneymagazine. Jack was former head of the Consumer Banking Group as well as internet, phone and ATM delivery channels for all lines of business at First Union/Wachovia, one of the five largest banks in America. Jack previously was Vice Chairman & CFO of FirstUSA, one of the three largest credit card companies prior to its merger with BankOne/Chase. Most recently Jack was President & CEO of Cardtronics, where he helped grow the business from 8,000 ATMs and $60 million in revenue to the largest ATM owner/operator in the world with over $500 million in revenue, the largest surcharge-free ATM network, with 6 of the top 10 banks and 7 of the top 11 retailers in the U.S as customers.
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Sarah Canepa Bang
Board Member |
Although she retired in 2017 as the CO-OP Network’s EVP of Industry Relations, Sarah Canepa Bang continues to serve on several CUSO, CU and bank advisory boards and committees. Prior to her role as EVP of Industry Relations, she served as President/Chief Strategy Officer for CO-OP Shared Branching, a division of CO-OP Financial Services from 2012 to 2016. She was the Chief Executive Officer/President of Financial Service Centers Cooperative, Inc. (FSCC) from 1999 through 2011. Before joining FSCC in 1999, Sarah was the Executive Vice President of the Oregon Credit Union League and Affiliates where she oversaw the operations of the League trade association, its for-profit services corporation and insurance company. At the same time, she was the chief operating officer of CU ACCESS, an ATM and shared branch network, and Automated Item Management, the northwest’s largest and most successful check processing operation. Sarah also served as chairman of the Association of Credit Union League Executives’ Fee Supported Services Committee.
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Business happens 24/7 and way outside of the branch. Is your credit union still relying on staff to review and respond to loan applicants? |