Magnifi Financial Launches New CUSO, Ultum Group
Organization provides premiere end-to-end commercial and SBA lending services to credit unions and community banks
MELROSE, Minn.–(BUSINESS WIRE)–Magnifi Financial, a full-service community credit union offering retail and commercial banking and wealth management services, announced it has launched Ultum Group, a new credit union service organization (CUSO). The CUSO provides premiere end-to-end commercial and Small Business Administration (SBA) lending services to financial institutions in Minnesota and throughout the United States.
“Our goal is to support and drive the success of financial institutions in the commercial and SBA lending space,” said Theresa Tschumperlin, Ultum Group Chief Executive Officer. “We recognize the individuality of each financial institution and their balance sheet composition, internal staffing, goals and strategic vision for the future – and we want to help them grow.”
Partnering with Ultum Group gives financial institutions the opportunity to enter, scale and succeed in the commercial and SBA space with white-labeled products and services. Organizations are freed from having to invest heavily in human capital and technology, instead relying on the expertise, infrastructure and experience of Ultum Group.
Ultum Group offers a full suite of services necessary to manage the life cycle of business loan relationships, specializing in many areas of commercial lending including agricultural, CRE, C&I, SBA, USDA and FSA. They provide commercial lending products and solutions to help financial institutions grow and diversify their loan portfolios, including:
- Commercial loan policy creation
- Loan underwriting
- Commercial document preparation
- Loan origination
- Loan servicing
“We are focused on cultivating partnerships that support each organization’s unique needs. Our services can be utilized as needed, or we can provide end-to-end solutions – freeing our clients to focus on what they do best: building and maintaining their commercial relationships,” said Tschumperlin.
Charles Friederichs, Magnifi’s Chief Executive Officer stated, “Magnifi has a long history of success and a proven track record in the commercial lending space. With marketplace competition, pricing pressures and operating costs increasing, financial institutions are being forced to look at additional revenue streams to sustain themselves. We launched Ultum Group to share our expertise and experience, and to meet the clear and growing demand from financial institutions for commercial and SBA lending. This gives them an avenue to grow their membership base while earning added income.”
About Ultum Group
Ultum Group is a newly formed Commercial and SBA lending CUSO. Formed to provide premiere end-to-end Commercial and SBA Lending Services to Credit Unions and Community Banks. Ultum’s goal is to drive and support the success for their client financial institutions in the commercial and SBA lending space.
Your Commercial and SBA Lending Experts.
ULTUMGROUP.COM
About Magnifi Financial
Magnifi Financial is a full-service community credit union offering retail and commercial banking and wealth management services to anyone within its field of membership. Magnifi Financial serves members with an extensive network of branches and best-in-class digital services. Members can access accounts and manage funds with ease through a full suite of digital banking services.
Magnifi Financial is committed to its core values of building up our shared communities, providing financial solutions that are easy and simple, earning the trust and respect of each member through our expertise, and doing what is right for our entire membership.
Welcome to Magnifi Financial. Your World in Focus.
MYMAGNIFI.ORG
Contacts
Ralston Sacco
Padilla
[email protected]
949.201.6772
