Chicago-based Alliant Credit Union reported its member business loans grew 24% last year, prompting the financial institution to expand its leadership team. Charles Krawitz joined as VP of Commercial Lending and will be charged with taking the business unit to new heights. He previously served as COO of NorthPoint Capital Funding Inc.
Alliant’s member business loans reached $355.6 million last year, accounting for 5.5% of Alliant’s total loans. That growth outpaced the national growth rate of 15% in 2016.
The company aims to build its member business loan portfolio to $1 billion by 2020. To achieve that goal, Krawitz will focus on better defining the product offering, mastering specific property types and upgrading team talent.
Krawitz said Alliant also is looking to originate roughly 90% of its commercial loans in neighborhood retail centers, multifamily properties, multi-tenanted industrial properties and self-storage facilities.
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