Michigan Business Connection (MBC) has launched a new service to facilitate core to core data file exchanges with its credit union partners.  Using the service, the credit union can upload daily its MBL loan records into its core, even when MBC is performing the primary servicing and risk monitoring.

Servicing a business loan can be complex, so many credit unions utilize a CUSO for loan accounting, billings, and ongoing risk monitoring and collections.  Bill Beardsley, CEO of MBC, noted “As one of the largest CUSO managed MBL portfolios in the country, it is important that we leverage that scale to help create better member experience. Innovation is one of our core values.  We are always trying to improve what we do, and how we do it. Improving seamless member access to business loan information through the credit union channel, but without the burden of administration, has always been a priority for MBC. Senior Vice President of Operations, Charles Bauchat, added, “This capability allows MBC to support all servicing related activities seamlessly. It will allow the credit union to maintain complete control of the member relationship for ongoing support, payment processing, and even future advances. This capability will eventually allow us to provide portfolio monitoring and management support for credit unions even when we are not the primary servicer of their loans.”