TROY, Mich. — In the midst of the state's tough economy, the growing entry of Michigan's credit unions into business lending was recently profiled.
A March 14 article in the Oakland Business Review mentioned a number of credit unions and CUSOs that are building their business lending programs. The $229 million Michigan Catholic CU has increased its business lending 200% over the past couple of years to $12 million though an alliance with Commercial Alliance, a CUSO, the publication reported.
The $184 million MidWest Financial's partnership with Michigan Business Connection, LC has helped the credit union to secure deals like the recent $12 million one for a cardiovascular surgery unit.
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