In 2004, a group of Credit Unions started Michigan Business Connection, a Credit Union Service Organization that would help share the costs and risks of member business lending. Shared costs mean lower costs for both Credit Unions and the business borrowers. And shared risks means more money is available to be loaned and borrowed.
Even in the darkest days of the Great Recession, Michigan Credit Unions continued to lend to Michigan businesses. And now, in the midst of this pandemic challenge, our Credit Unions have provided more than 1,000 small business owners fast access to funds to keep payroll going. All together we have helped our Credit Union partners successfully originate and manage $1 Billion in business loans.
Even in the darkest days of the Great Recession, Michigan Credit Unions continued to lend to Michigan businesses. And now, in the midst of this pandemic challenge, our Credit Unions have provided more than 1,000 small business owners fast access to funds to keep payroll going. All together we have helped our Credit Union partners successfully originate and manage $1 Billion in business loans.
Services
As a Credit Union working with Michigan Business Connection (MBC) you become part of a close peer group of like-minded Credit Unions while expanding your lending capability and portfolio diversity.
Formed in 2004, and 100% Credit Union owned including the Michigan Credit Union League, MBC has enabled Michigan Credit Unions to share the cost and risk of commercial loan management and offer the best commercial lending solutions to their members and communities.
Formed in 2004, and 100% Credit Union owned including the Michigan Credit Union League, MBC has enabled Michigan Credit Unions to share the cost and risk of commercial loan management and offer the best commercial lending solutions to their members and communities.
For more than a decade Michigan Credit Unions have been experiencing great growth in commercial lending and the current economy is driving even more expansion of small and medium size businesses. That means commercial loan needs will continue to increase. Credit Unions who share the costs and risks of business lending with each other are uniquely positioned to capitalize on this growth and fulfill their member and community needs.
Credit unions are a great place to go when you need financing to grow your business or make real estate investments with great rates and terms and exceptional service. We work with almost all types of industries and real estate properties. Michigan enjoys a tremendous, historical heritage in creating businesses and entrepreneurs.
It takes a lot of resources to manage the entire process of educating borrowers, maintaining the technology, underwriting, and servicing a loan through its lifetime. At MBC, we help Credit Unions throughout Michigan do this work and maintain compliance with constantly evolving rules and regulations.
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