About us
AVANA CUSO is one of the most seasoned credit union service organizations (CUSO) focused on commercial real estate. Established in 1998.
Who We Serve
AVANA CUSO is one of the most seasoned credit union service organizations (CUSO) focused on commercial real estate. Established in 1998.
Top 5 Credit Unions for Veterans
/in Insightsn honor of Veteran’s Day, we’re highlighting the top credit unions for veterans. These military-focused financial institutions provide personalized financial services and products that benefit vets in a way national banks do not.
Since credit unions for veterans are member-owned and not-for-profit organizations, they can provide competitive rates and customized services for veterans while giving back to the communities that they serve.
One of the main reasons these credit unions can offer such quality financial services is by partnering with an expert credit union service organization (CUSO) such as AVANA CUSO. AVANA CUSO has partnered with credit unions across the country for decades, helping these organizations diversify their lending portfolios and better support their members.
Best Credit Unions for Veterans:
Here are some of the top credit unions for veterans:
1. Navy Federal Credit Union
A popular option is the Navy Federal Credit Union for Veterans. With over 12.7 million members and approximately $166.1 billion in assets under management (AUM), it is the largest federally insured credit union by assets. Above all, they aim to foster financial health for members and serve their local community. Plus, they are widely considered the best credit union for veterans.
Since 1933, Navy Federal Credit Union has been providing its members with competitive rates and helpful financial products. Such products include market-leading savings accounts, checking accounts, credit cards, student loans, mortgages, and more.
Navy Federal Credit Union stands out for Veterans with its dedicated financial services and exclusive programs designed to meet the unique needs of military members. Their commitment to offering competitive rates and personalized support ensures veterans receive the best in banking solutions.
2. PenFed
PenFed Credit Union, originally founded as the War Department Credit Union in 1935, is one of the largest and most trusted credit unions serving veterans, active-duty military, and their families. PenFed provides tailored financial services, including competitive loan options, accessible mortgage solutions, and high-yield savings accounts, all designed to support the unique needs of veterans. It is known for its industry-leading rates on auto loans and home mortgages, though it also offers competitive incentive programs on credit cards in addition to other products.
PenFed also offers extensive financial education resources, helping veterans manage finances effectively post-service. Its mission is to help members realize their financial potential through education and encouragement. With its deep-rooted commitment to the military community and initiatives like the PenFed Foundation, which provides grants and emergency assistance to veterans, PenFed has become a vital financial institution for those who have served the nation.
Though everyone is eligible to apply for a membership, the PenFed has traditionally been a meaningful financial resource for veterans across the country.
3. Security Service Federal Credit Union
Security Service Federal Credit Union was founded in 1956 as the United States Air Force Security Service Federal Credit Union in San Antonio, Texas. Since then, they have extended their memberships to civilians, though they remain one of the top credit unions specifically for veterans. It has approximately 800,000 members and an AUM of 10.5 Billion USD to manage.
They’re dedicated to providing strength, stability, and convenience for members to help build financial soundness with competitive products and services. Above all, they want to empower members with the knowledge necessary to make wise financial decisions.
Some of their more notable products include their money market and savings accounts at low rates.
4. Service Credit Union
Service Credit Union (SCU) is a credit union for veterans that is known for its high rates on savings accounts, competitive vehicle loans, and flexible credit cards. SCU was established in 1957 to support military personnel and their families, though they now have members across the globe. It has approximately 350,000 members and an AUM of 5 Billion USD to manage.
They have the goal to offer financial products and services that fit the unique needs of their members and improve their lives, especially military service members and veterans.
Overall, they’re committed to giving back to their community and fostering long-term relationships that are fruitful for members.
5. Andrews Federal Credit Union
Andrews Federal Credit Union (AFCU) has a long history of serving military members and their families since it opened its doors in 1948. They currently have more than 139,000 members and almost $2.5 billion in assets.
They have a mission to deliver innovative financial products and world-class service to their members to reach their financial goals. AFCU offers both personal and business banking solutions, including business credit card options, personal loans, competitive savings accounts, investment services, payroll services, and more.
Those eligible for memberships include veterans or active military members in Washington, D.C., Maryland, Virginia, New Jersey, and U.S. military bases throughout Germany, Belgium, and the Netherlands. Plus, Select Employee Groups throughout Maryland, Virginia, and New Jersey are also invited to apply.
About AVANA CUSO
Established in 1998 and headquartered in Simi Valley, CA, AVANA CUSO is one of the most seasoned credit union service organizations (CUSO) focused on commercial lending. For decades, we have partnered with credit unions across the country to offer competitive and collaborative loans. We also uniquely support and guide our partners through the entire lifecycle of our loans. AVANA CUSO is a proud member of the AVANA Family of Companies.
Contact us today to learn more about becoming an AVANA CUSO partner.
We have refreshed this content in November 2024 to ensure freshness for our readers.
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/in Cannabis, projectsHow NCUA & CUNA Support Credit Unions
/in Insights, UncategorizedFor credit union leaders and professionals who are looking to sharpen their skills and better serve their members, there are a number of organizations out there that can help. Including legislative advocacy, member protection regulations and industry-leading networking support for professionals, there’s a lot to gain from the National Credit Union Administration (NCUA) and the […]
Top 5 Credit Union Books
/in UncategorizedThese Popular Credit Union Books Cater to Credit Union Management and Board Members
As credit unions across the nation continue to compete with big banks and other financial institutions, there remains the need to quickly adapt services and solutions to the world around them. For instance, as more financial services move to online and mobile platforms, credit unions must remain vigilant in their digital transformation strategies. It has become essential to provide mobile apps, online accounts and online credit card services to all members.
To remain abreast of the latest strategies, industry trends and digital protocols, consider reading these top five credit union books that create excellent resources for credit union CEOs, management teams and board members.
1. CU 2.0: A Guide for Credit Unions Competing in the Digital Age
Kirk Drake’s CU 2.0 is the most popular read related to credit unions. The book is a manual of methods for leveraging technology to enable growth and provide a competitive advantage. The guide provides several opportunities for credit union transformation, advocating for greater digital use, connection with membership and creative thinking.
2. Financial: Helping Financial Services Executives Prepare for an Artificial World
This is another read by Kirk Drake. Though this book is focused on a broader audience of all financial institutions, it does have entire sections dedicated solely to credit unions. The book delves into how credit unions can use artificial intelligence to their advantage, improving services, financial performance and problem-solving. Readers can find a step-by-step plan on how to begin their organization’s journey with artificial intelligence.
3. Strategy for Credit Unions: A Guide for Management and Boards
Credit unions typically follow similar rules, regulations and procedures so it is important all managerial employees, board members and the CEO are aligned on strategy. Alan Shaw’s book is a guide for all management levels to ensure the entire organization agrees on and understands strategy, the necessary strategic tools, the organization’s value proposition, company culture and more.
4. CUSOs: How Credit Unions and Entrepreneurs Can Get Started (And Win!) with Credit Union Service Organizations
Author Brian Lauer is a partner at Messick Laur & Smith P.C., which focuses on the formation and operations of Credit Union Service Organizations (CUSO). Lauer has utilized his knowledge and experience to develop a handbook exploring the rules, risks and rewards of forming or joining a CUSO. The book also discusses how CUSOs are something every credit union management team should explore, as they can lead to new opportunities.
5. The Data-Driven Credit Union: Creating a Data-Driven Decision Culture in Your Credit Union
Today, data and analytics are vital to nearly every organization around the globe. Michael Cochrum’s book explains why it is necessary for credit unions to adopt data-driven decision-making. It also provides a plan for credit unions to seamlessly incorporate data and analytics into their decision-making processes.
AVANA CUSO is one of the most seasoned credit union service organizations (CUSO) focused on commercial real estate. Established in 1998, AVANA CUSO is a customer service-driven organization connecting credit unions with commercial real estate brokers, commercial mortgage brokers and high-net-worth investors through participation lending.
5 Types of Small Business Loans that can Help Your Company Thrive
/in InsightsAVANA CUSO and Its Sister Company LendThrive Offer Various Business Loans that Support Any Venture.
Whether you’re opening a retail store on Main Street, expanding your restaurant or growing any other budding venture, you’ll likely need a business loan to help fund it. In coordination with sister company LendThrive, experienced commercial lender AVANA CUSO provides several types of small business loans that can help you launch, grow or pivot your business.
Below are five business loans that are all available to entrepreneurs and business owners through AVANA CUSO or LendThrive, an online lender offering affordable, fixed-rate business financing.
Commercial Real Estate Loans
For small business owners interested in expanding, renovating, refinancing or purchasing new property, a commercial real estate loan can be essential to growth. AVANA CUSO provides conventional financing to retail projects, multi-family housing, office buildings, healthcare facilities, educational institutions and more. AVANA CUSO offers competitive interest rates starting at 3.5%, and typically funds loan amounts ranging from $2.5 to $5 million. Plus, AVANA CUSO has the network to fund larger loans of approximately $25 million for bigger projects.
Conventional Construction Loans
A conventional construction loan is a type of small business loan that can be used for commercial construction projects, such as expanding or renovating a business. It can also be used to purchase or lease equipment and hire construction teams. AVANA CUSO, in collaboration with parent company AVANA Companies, tailors the loan product based on the industry, market and project needs.
SBA 504 Loans
The SBA 504 is one of two loan programs offered by the Small Business Administration. This financing option provides long-term, fixed-rate financing for the purchase or construction of new buildings, land, machinery or equipment. SBA 504 loans cannot be used for working capital or investment in rental real estate. Typical SBA 504 loan terms range from 10 to 25 years, while interest rates can be as low as 2.86% (including fees).
Fixed-Rate Business Loans
Because small business’ cash flow is constantly changing, LendThrive offers fixed-rate business loans for small business owners interested in funding unexpected projects, expansion or acquisition. With a fixed-rate loan, borrowers receive a set interest rate that won’t fluctuate for the duration of the loan. As an online lender, LendThrive funds up to $150,000, provides application approvals within 24 hours and offers rate reduction rewards for customers who make timely payments. To qualify, borrowers must have:
Flexible Loans for Small Businesses
A flexible loan for small businesses, also known as a business line of credit, provides access to cash up to a fixed credit limit. LendThrive offers flexible loans for a variety of industries, including retail, e-commerce, construction, beauty salons, breweries and law firms ranging from $25,000 to $150,000. As an added bonus, LendThrive’s application process is simple. Review the eligibility requirements and fill out the business loan application, and then, LendThrive will check your credit history. Within one business day, LendThrive will provide a final approval decision.
About AVANA CUSO
Established in 1998 and headquartered in Simi Valley, CA, AVANA CUSO offers competitive commercial real estate loans. We partner with credit unions and connect them to investors across the United States. Additionally, we uniquely support and guide our partners through the entire loan process. AVANA CUSO is a proud member of the AVANA Family of Companies.
AVANA CUSO’s Unique Approach to Forging Partnerships
/in InsightsAs a leading Credit Union Service Organization (CUSO), we have a unique relationship-first approach to participation lending. That approach has helped us forge thousands of partnerships throughout the years.
Harnessing our decades of experience in the industry, we work diligently to serve each of our partner segments with care and precision. Those segments include credit unions and a network we like to call “connectors.” Working together, we find the best commercial real estate (CRE) lending solution for their borrower’s needs.
Credit Union Partners
AVANA CUSO helps credit unions expand their lending portfolio with flexible and competitive commercial real estate loans ranging from $2M-$25M in loan value. We handle the servicing of the loan from origination to payoff, offering customizable solutions that cater to each credit union and borrower’s needs. Our loan products include:
From expanded portfolios to increased liquidity, AVANA CUSO’s team of financial experts is dedicated to serving the needs of credit unions. We put immense care into fostering long-term relationships that are mutually beneficial and financially successful. That’s because, to us, our partnerships go far beyond loan transactions. We know our partners well, we understand their strategic needs, and we proactively protect their interests.
In addition, our hands-on approach to servicing loans from origination to payoff vastly sets us apart from others in the industry. We’re invested in the entire process from start to finish, ensuring our CU partners and their borrowers receive the necessary, ongoing support and oversight that positions them for success.
Lastly, AVANA CUSO works diligently to save at-risk loans by working closely with CUs and borrowers themselves. This helps mitigate or neutralize financial loss to the credit union. When a loan goes bad, our team actively works to recoup the principal, interest, default interest and legal fees. All this saves the credit union time, resources and up to hundreds of thousands of dollars.
Connectors
We also happily serve our growing network of “connectors.” Connectors are a person or business with a sizable professional network, and they understand the value of our lending solutions, expansive expertise and core values. This trust and understanding give them the confidence to recommend our products to those in their network who need top-quality, competitive funding.
Connectors can include:
We partner with these professionals to support entrepreneurs and business owners seeking customized commercial real estate loans. We then efficiently and quickly originate and service the loans in a way that sets up all parties for success.
Working with our connectors helps us to help fund more loans, increasing our impact on borrowers and communities around the country. This effort directly aligns with our company purpose to deliver “Capital for a Better Tomorrow.” We do that by offering competitive, well-crafted loans that promote economic growth, job creation and financial success.