CUSCALCredit Union Services Corporation Australia Limited
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CUSCAL would simply be taking a sound concept and making it available for credit unions for loans of a much lesser magnitude, between -- say -- $10 million and $50 million.
An intermediate change option for credit unions would be for CUSCAL to supplement an in-house facility for syndicated commercial lending, through the establishment of a subsidiary in the Investissement Desjardins (ID) mould, specifically tasked to undertake funding for local and regional economic development.
In this option, the CUSCAL subsidiary would have incubator and business support functions akin to those of Empresarial Division of the Mondragon credit union, the Caja Laboral Popular, in the Mark I phase of Mondragon.
We evaluated a number of alternatives and conferred with CUSCAL before selecting the Pegasystems solution.
In normal circumstances these funds are placed with an SSP, the bulk of which are deposited with CUSCAL in its role as banker for the scheme.