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NuUnion First Michigan CU to Join Business Capital Access Program

LANSING, Mich. - It might be new territory for NuUnion Credit Union, but the long-term impact for Michigan's economy, which has been in the doldrums lately, could see a revival thanks to a network of financial institutions and the re-launch of a 20-year old program.

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LANSING, Mich. – It might be new territory for NuUnion Credit Union, but the long-term impact for Michigan’s economy, which has been in the doldrums lately, could see a revival thanks to a network of financial institutions and the re-launch of a 20-year old program.

The $771 million credit union is the first and only credit union in the state to join the Michigan Economic Development Corporation’s Capital Access Program. The program was originally created in 1986 and reinstated in 2002 to provide financial institutions with a flexible tool to make business loans that are somewhat riskier than conventional bank loans, allowing the financial institution to expand its market and better serve its customer base.

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