Business Lending Losses Bring Down Telesis
Since at least 2010, Telesis Community Credit Union’s member business loan program has been in a downward spiral.
Over the past few years, Telesis made loan workout attempts to avoid placing properties in foreclosures and sued others that had defaulted.
Bill Beardsley, president of the Michigan Business Connection LC, a business lending CUSO, is among those in the industry who admired Mayo’s vision.
“I’ve always had great respect for Grace and her team and for growing Business Partners,” Beardsley said of the business lending CUSO founded by Telesis.