Community First CU's Aggregate MBL Limit Raised to 25 Percent of Assets

The Wisconsin Office of Credit Unions granted Community First Credit Union (Neenah, WI) an exception to the aggregate member business loan (MBL) cap, according to the Credit Union Activities Report.

The credit union applied for the exception from the aggregate MBL limit on August 28, 2018 and the Wisconsin Office of Credit Unions approved the exception on January 14, 2019.

The new aggregate MBL to asset ratio for the credit union is 25 percent of assets.

This is the second exception to the aggregate MBL cap for Community First CU.

On February 24, 2014, the Wisconsin Credit Union supervisor approved an exception to the aggregate MBL limit for Community First CU to make member business loans up to 18 percent of the credit union's assets, instead of the statutory limit of 12.25 percent of assets.

At the end of the 2018, the credit union was approaching the 18 percent cap with a MBL-to-Asset ratio of 17.85 percent.

This approval comes almost two years after Community First CU was denied a request on Janaury 23, 2017 for an exception from the aggregate MBL cap.