Michigan Business Connection in Ann Arbor announced that both LOC FCU, with headquarters in Farmington, and Bay Winds FCU, headquartered in Charlevoix, have signed partner agreements to offer business lending to their members.
MBC will provide specialized small-business lending expertise and support and help foster new relationships with business leaders.
“We welcome the opportunity to serve Bay Winds FCU and LOC FCU and their members,” MBC President/CEO Bill Beardsley said. “Everybody benefits when credit unions work together to share the costs and risks of lending.”
When credit unions partner with MBC they are able to serve their members and their communities by utilizing the expertise and technology needed to offer business loans at a fraction of the cost of an in-house program. Partners of MBC are joining a network of affiliated credit unions across Michigan to diversify member loan risk, collaborate and share the cost of business lending.