For his advocacy and work to increase small business lending, David Adams, president/CEO of the Michigan Credit Union League & Affiliates, was named the 2012 National Financial Services Champion by the SBA.
“Your hard work, innovative ideas and dedication to your community have helped you succeed,” SBA Administrator Karen Mills wrote in the letter announcing the award. “The SBA is pleased to recognize your achievements and your role in driving our nation’s economic growth.”
During Adams’ tenure, Michigan credit unions’ small business loans have increased by an average of 21% in each of the past five years – more than quadruple the U.S. credit unions’ 2011 growth rate of 5.1%, according to the league.
The league said it has been a strong advocate for efforts to strengthen small business lending, including calling for passage of a bipartisan plan to increase the cap on credit unions’ small business lending from 12.25% to 27.5% of a credit unions’ assets.
The Credit Union Small Business Jobs Bill (S. 2231/H.R. 1418) has the support of U.S. Sens. Carl Levin and Debbie Stabenow and nine of Michigan’s 15 members of Congress who sit on the House Financial Services Committee, according to the league.
Adams has also received the state-level Financial Services Champion award from the Michigan Celebrates Small Business organization made up of the SBA, the Michigan Economic Development Corp., Small Business Association of Michigan, Greater Lansing Business Monthly, the Edward Lowe Foundation and the Michigan Small Business & Technology Development Center.