Michigan Business Connection – Credit Union Service Organization
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. We have helped our Credit Union partners successfully originate and manage more than $500 Million in business loans. That’s $500 Million dollars of capital for more than 1,000 Michigan based small businesses and commercial real estate owners. We handle the paperwork, underwriting and ongoing maintenance so more Michigan Credit Unions can help more Michigan business borrowers.