More Michigan Credit Unions Leveraging MBC's Service Platform

Since its inception in 2004 Michigan Business Connection (MBC) based in Ann Arbor, MI has been helping credit unions by providing specialized business lending expertise and support and by fostering new relationships with industry leaders. To that end, MBC is excited to have formed some new relationships that will decidedly result in even more collaboration and beyond that that will ensure that business owners in Michigan will continue to find their way to credit unions and will see them as trusted business lending resources and financial partners.

Kellogg Community Federal Credit Union located in Battle Creek isn’t new to business lending, but their partnership with MBC provides them with additional expertise along with increased business lending participation opportunities. “Our partnership with MBC lets our lenders spend more time with our members, and allows us to balance our growth both locally and throughout Michigan,” notes Kellogg CFO Mike Ogrin. In addition to officially welcoming Kellogg CFCU, MBC is pleased to announce that it will be providing its services to Motor City Co-op Credit Union whose main office is located in Clinton, Twp., University of Michigan Credit Union serving the Ann Arbor area, Members First Credit Union in Midland, Michigan and Chief Financial Credit Union with headquarters in Pontiac, Michigan.

When asked about MBC’s new partnerships Bill Beardsley, President/CEO of Michigan Business Connection said, “We’re thrilled at these partnerships and the additional reach that it provides to Michigan business owners. More credit unions signing up for member business lending services and support means more capital can be provided to business owners, and that means a lot to the Michigan economy.” University of Michigan Credit Union’s CEO Tiffany Ford, said, “We’ve been considering launching our MBL program for some time, and MBC’s subscriber service platform gives us all the support we need to expand the exceptional service we provide to our members”. Eric Brubaker, CEO of Members First Credit Union, agrees adding, “We’ve worked with MBC for several years with participations, and now we are able to leverage the expertise and other relationships for enhanced member lending support. Their dedication to service and to the Credit Union movement is just what we were looking for.”

MBC launched a new and innovative subscriber service platform and fee schedule earlier this year which has been a factor in the attraction of these credit unions. The new services aids in enhancing the value participating credit unions get from sharing the costs and risks of their business lending program. Specifically, the new platform allows credit union partners to have unlimited new loan underwriting and documentation support for a fixed cost starting as low as $1,750 per month. Plus, MBC now offers enhanced support and pricing for SBA lending and orientation to positioning SBA Loans for optimal value if sold on the secondary market.

MBC’s news is both exciting and timely as recent efforts by the NCUA show an improved effort at encouraging credit unions to do more business lending. Recent proposals to eliminate the fixed asset cap, increase the size definition of small credit union to reduce regulatory burden and eliminate the business lending waiver requirements on certain items appear to intended to encourage credit unions to ramp up their business lending efforts.

About Michigan Business Connection, LLC

Since 2004, Michigan Business Connection (MBC) has supported the State of Michigan’s small and medium-sized businesses and real estate investors by underwriting and servicing commercial loans for financial institutions statewide. They primarily serve Michigan credit unions and their members. MBC is a credit union service organization (CUSO) leveraging a collaborative effort of more than two dozen affiliated credit unions. They now help manage a portfolio of over $400 million in business loans for these financial institutions. Partnering with MBC enables Michigan credit unions to share the costs and spread the risks of commercial lending while providing critically needed capital for small business reinvestment throughout our state. To learn more please visit their website at, www.mbcloans.biz.