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HBS Helps Credit Unions Grow Business Loans, Sees Board Changes

The last year has been a period of growth and board changes for Heartland Business Services (HBS), a credit union service organization (CUSO) that provides member business loan services to credit unions in Kansas and Missouri.

“It was a great year for Heartland Business Services,” says Keith Steinhoff, HBS president/CEO. “We saw a 5% increase in loan growth and a revenue increase of 17% when compared to the previous year.”

Time and resources are in short supply for credit unions, which can impact the number of products and services they offer members, including business loans. However, when credit unions partner with HBS, they can quickly, economically and safely offer a full line of business loans to their existing and potential members. The HBS employees are subject matter experts in business loans, meaning you can trust them to provide top-notch insight and service. Click here for a complete list of services.

HBS Board Changes

HBS will be bidding a fond farewell to Gary Hinrichs, chairman of the HBS Board of Managers. Hinrichs has been the chairman since the inception of the CUSO in 2005. At the end of 2015, he retired from his position as president/CEO of West Community Credit Union.

John Servos, president/CEO of Neighbors Credit Union, will succeed Hinrichs as chairman of the HBS Board of Managers. He has been on the board for several years, and he has a depth of knowledge and familiarity with HBS.

“We are thankful for Gary’s many years of guidance and service to Heartland Business Services,” says Servos. “The growth of HBS is a testament to his vision and leadership. He will be missed.”

Servos will formally be elected as chairman during the HBS Annual Meeting on March 7, 2016 in Jefferson City. In addition, Donna Evans, who is currently filling a vacant seat on the board, will be up for election during this meeting. Evans is the chief lending officer for United Consumers Credit Union.

About HBS

In 2005, 18 Missouri credit unions, the Missouri Credit Union Association (now Heartland Credit Union Association), and Missouri Corporate Credit Union (now Kansas Corporate Credit Union) established Heartland Business Services to provide member business loan services. HBS manages a portfolio of more than 450 loans with a total balance in excess of $87.5 million.

For more information on Heartland Business Services, please visit its website or call 800.527.8472.