About

What is CREDIT

CREDIT is a student run group at Virginia Tech that manages a $2 million portfolio of commercial bank loan participations. Loan Deal Teams consider loan participation deals related to Commercial and Industrial and Commercial Real Estate. Deal Team members analyze different loan types including lines of credit and term loans.

History

In 2017, the Virginia Tech Finance Department began to feel a push for more experimental learning for Finance students from the Finance Advisory Board. Other organizations were helping students gain experience in equities and fixed income, but there was little opportunity to learn how to lend money. Dr. George Morgan, a Virginia Tech Finance Professor and BASIS Advisor, saw the opportunity to create a one-of-a- kind capstone experience to reignite interest in banking. He enlisted students to brainstorm ideas for a new experience. In preparation to revamp the risk management and banking option within Finance, Dr. Morgan enlisted the help of John Asbury, CEO of Atlantic Union Bank, and Mike Clarke, former CEO of Access National Bank before its merger with AUB. Both are Virginia Tech Finance grads and offered invaluable expertise and experience to help create a hands- on experience between Atlantic Union Bank and Virginia Tech students. In 2019, these students had the opportunity to pitch the idea of Credit Corps to the Finance Advisory Board in New York. These students outlined how the capstone would allow them to work as commercial loan officers on deal teams to review financial statements, interview management at borrowing companies, and identify risks. The Virginia Tech Foundation graciously committed $2 million over four years to establish CREDIT. This has allowed students to work with Atlantic Union Bank and First Bank and Trust to invest real money in sophisticated assets.