Michigan CU Capital Goes Grassroots Via Social Media
Nearly a year after Michigan CU Capital launched a statewide lending brand that would connect small businesses to credit unions, the effort has added another level to increase its exposure.
With a soft rollout in May 2011, MCUC has been working with the Michigan Business Connection LC, a commercial lending and underwriting CUSO, to help credit unions share costs and expertise while creating a collective brand that symbolizes a commitment to the best practices in small business lending.
During the implementation of its business financial services strategy, MBC introduced the MCUC initiative. Hensley said Lake Trust’s original business financial services model was designed around the business services officer managing most of the relationships. However, with the MCUC focus on the small business owner, the credit union recognized this as a great opportunity to expand its reach in the business community and maximize its resources.
The business services officers are now focused primarily on the larger member business relationships and lending opportunities while the branch managers work directly with the MCUC team to provide loan services and serve as the primary relationship manager for small member business relationships, typically those with borrowing needs of $100,000 or less.