Wealth with Credit Unions Mark Ritter

Unlocking Passive Income Adventures with Credit Unions - Featuring Mark Ritter

Welcome back investors! In this episode of Passive Income Adventures, we dive into the world of real estate lending with special guest Mark Ritter, CEO of Member Business Financial Services (MBFS). Mark shares his journey from growing up in Pennsylvania's coal regions to leading one of the top credit union service organizations in the country. Learn how to leverage credit unions for business and real estate financing, understand the benefits of using other people's money, and hear valuable tips on avoiding common pitfalls in real estate investments. Mark also discusses the importance of lifestyle goals over mere financial goals, the advantages and disadvantages of credit unions and bank loans, and the evolving landscape of tech tools in the credit union sector. If you're an investor, entrepreneur, or someone looking to improve your financial literacy, this episode is packed with insights you won't want to miss!

Bio:
Mark Ritter is the CEO of MBFS and brings an extensive background in credit union business lending to the organization after joining the organization in 2012.

Mark was the founder of Members 1st FCU's credit union business lending program that grew to be one of the top ten in the nation in number of loans and balances outstanding for federal credit unions. In addition, Mark developed a participation program that grew to one of the top buyers and sellers of credit union business loans in the eastern United States. He has done extensive work with branch retail staff, business lending operational and sales staff, and credit unions throughout the Mid-Atlantic States to educate and train them on the merits of member business lending. His primary role at MBFS is leading the day-to-day operations of the organization and consulting with credit unions on planning the delivery of business services to their membership. Mark is a native of Berwick, PA and a graduate of Penn State University.

Connect:
https://mbfs.org
https://linkedin.com/in/markrittermbfs

Connect with Emma:
https://investwithemma.com
https://riseclubcapital.com
https://partnerwithrise.com

00:00 Introduction to Passive Income Adventures
00:14 Meet Mark Ritter: Real Estate Lender
01:43 Mark's Journey in Financial Services
04:54 The Role of Credit Unions in Real Estate
06:33 Mark's Lifestyle Shift and Remote Work
08:06 Challenges and Realities of Real Estate Investing
11:54 Understanding Credit Union Lending
14:40 Personal Experiences with Credit Unions
17:24 Credit Unions vs. Traditional Banks
24:22 Leveraging Credit Unions for Real Estate Investments
34:50 Understanding Unsecured Lines of Credit
35:01 The Misconceptions of Hard Money Lending
35:47 Credit Unions vs. Hard Money Lenders
37:19 The Role of National Hard Money Lenders
38:40 Challenges with Credit Unions and National Banks
39:52 User Experience in Online and In-Person Banking
42:22 The Evolution of Credit Union Technology
44:34 The Importance of Loan Brokers
45:21 Credit Unions and Small Business Lending
47:28 Navigating Commercial Lending
50:45 The Impact of Liquidity on Lending
58:32 Community Development and Personal Goals
01:03:32 Networking and Finding the Right Resources
01:05:05 Conclusion and Contact Information