Michigan CUSO to Create a Statewide Lending Brand
One of the inspirations behind creating a statewide lending brand that would be easily recognized by small business owners in Michigan evolved from conversations with local trade groups.
Bill Beardsley, president of Michigan Business Connection LLC, heard the questions about credit unions: How does one join, where can I find them and what are they doing in the business lending space?
At the same time, the MCUC brand will be regularly promoted within the finance community and will enable a participating credit union access to the CUSO’s website to highlight their own credit union business lending successes.
“Credit unions have had a tremendous opportunity in commercial lending over the last five years, in part because of what banks have been through,” Beardsley said. “The low-hanging fruit that was relatively easy to pick was commercial loans. So a borrower introduced to a credit union through commercial lending now has become a member and has entrusted them to do more business financing.”