Octant Business Services, LLC was founded in 2004 and is a jointly owned credit union service organization (CUSO) that provides high quality, affordable, safe and sound business lending products and services that allow client credit unions to offer commercial and member business loans (CMBL).
For those credit unions that do not want to incur the time and cost of implementing an in-house commercial lending department, Octant provides a comprehensive solution to the Member Business Loan offering. Our owners acted upon a mutual belief that business loans were both a member need and an accelerant for credit union growth and that by forming Octant, not only could each credit union serve its own members’ needs but those of other credit unions as well.
Octant is continually developing and delivering CMBL products and services that add value and assist our client credit unions in meeting the needs of their members while complying with NCUA regulatory lending rules and commercial lending safety and soundness guidelines.
President & CEO
Larry Murphy has over 30 years of commercial banking experience, primarily with Fleet Bank, Sovereign Bank and TD Bank, N. A., in various leadership roles. He successfully completed a formal credit training program and has held various leadership positions within Credit Risk Management, Underwriting, Analysis and Portfolio Management, Commercial Lending and Problem Loan Management, Credit Risk Review and Business Line Financial Management. Prior to joining Octant, he served as the Commercial Examinations Manager for TD Bank, N. A. responsible for planning, risk assessment and execution of US based commercial loan exams on a national basis. He has served as the President and CEO at Octant since May 2014. Larry earned a degree in Business Administration with a concentration in Financial Management (Magna Cum Laude) from the University of Massachusetts at Lowell. He also serves on the Board of Directors for The Nashua Center for the Multiply Handicapped in Nashua, NH.
Senior Vice President, Client Services
Quentin has over 23 years of banking and commercial lending experience. He worked at Ford Motor Credit for twelve years in various capacities including as a Business Development Manager, Regional Credit Analyst and Credit Supervisor. He then joined Citizens Bank where he served as a Business Banking Officer responsible for soliciting new business banking relationships as well as training and coaching branch personnel in serving the small business community. He was ranked as a Citizens Bank Top 20 Performer in 2004. At Octant since December 2005, Quentin is responsible for implementing MBL programs with new client credit unions as well as working with clients to help them develop best practices in managing MBL relationships. He is a graduate of the University of New Hampshire.
Senior Vice President, Chief Operating Officer
Brad Coyle has over 15 years of loan servicing, operations, and management experience in the financial services industry. Brad joined Octant in August of 2016 after spending the prior eight years as the Vice President of Loan Servicing and Operations for multiple financial institutions, both in the private and public sectors. Brad’s various leadership roles oversaw management, daily loan operations, servicing, and vendor management. In addition, Brad possesses experience with management information technology, treasury, and cash management. Brad graduated from Alfred University with a degree in Business Administration with a concentration in Management Information Systems.
Vice President, Credit Services
Matt has over 13 years of experience in banking, predominantly in commercial credit risk management between Octant Business Services and TD Bank, N.A. He has held leadership roles in commercial loan underwriting and portfolio management. He successfully completed a formal credit training program along with the completion of several RMA classes focused on credit risk management. Matt has worked closely with small business lenders for many years and understands the need for balance between business development and prudent risk management. Matt joined Octant in April 2013 and is responsible for all underwriting activities as well as continuous maintenance of regulatory compliant credit policies and procedures. Matt is a graduate of Merrimack College with a major in Business Management.
Nicole Nance, Assistant Vice President
Jaclyn Reda, Loan Administrator
Craig Gordon, Loan Administrator
Rachel Dumais, Loan Administrator
Sean Almy, Loan Underwriter
Kyleen Casey, Senior Loan Underwriter
Andrew Caputo, Loan Underwriter
Shannon Casey, Loan Underwriter
Susan Descoteaux, Loan Administrator