Michigan Business Connection, a credit union service organization focused on member business lending, has hit the $1 billion-asset mark in assets under management.
The CUSO provides service to credit unions in 51 counties across the Great Lakes State, including billing, accounting, monitoring and collections. A release from the firm noted that the institutions it works with have financed more than 1,000 loans through the Paycheck Protection Program, along with traditional small business lending.
“Now more than ever, during the unprecedented times we are experiencing this milestone has tremendous meaning,” President and CEO Bill Beardsley said in the release. “It demonstrates just how strong the cooperative movement’s commitment to people helping people is. Since our inception, MBC has been committed to building a team of experts that can not only provide expertise and support that enables credit unions to lend to businesses in their local markets, but also demonstrates the power of collaboration.”
