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On Friday, the Bannockburn, Ill.-based Great Lakes Credit Union stated it had secured $10 million in secondary capital through the independent advisory firm Brean Capital, in a deal that will allow the low-income designated credit union to further its abilities to serve its members.

“With this secondary capital, we’ll be able to expand the work we’re doing to financially empower people and communities across Northern Illinois,” said Steve Bugg, president/CEO of GLCU. “This infusion of capital does more than further strengthen our balance sheet. It enables us to offer new, innovative products and services, as well as provide expanded financial tools and resources in order to remain competitive in the ever changing financial services industry.”

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Michael Ogden

Editor-in-Chief for CU Times.

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