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Attendees learned the ins-and-outs of member business lending and credit union trends in lending during two different sessions Friday at NAFCU's Annual Conference.

Christopher Pippett, partner with Fox Rothschild LLP, discussed with credit union attendees how they can drive new income through member business lending. He noted various regulatory issues, including the revised business lending regulation that applies to loans for commercial, industrial, agricultural and professional purposes.

Christopher Pippett, partner with Fox Rothschild LLP, discussed with credit union attendees how they can drive new income through member business lending during Annual Conference. (Harrison McClary photo)

He said the approach to business lending "involves a mindset that is different from how credit unions traditionally deal with their members." Credit unions will need to insist on complete compliance with document and information requests in the due diligence, underwriting and approval process, among other things.

David Reed, partner with Reed & Jolly PLLC, gave credit union representatives five key ingredients to spice up their lending programs. He said a credit union's lending program should cover the "five P's": plan, policy, procedures, practice and performance.

Reed also discussed the trends in credit union lending; what is working for credit unions in terms of lending; risk management, including interest rate risk; and the need to keep up with regulations.

Next year's Annual Conference, June 13-16, is in Honolulu, Hawaii. Register now.