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Michigan Credit Union League Home » Information Services » Publications » News Articles  

B2B Publication Recognizes Growing CU Business Lending Portfolio   (Misc News: January 6, 2014)

Credit union business lending surged again in Michigan in 2013, continuing a four-year span that has seen member business lending grow by more than 85%.

MCUL & Affiliates CEO David Adams told MiBiz, a West Michigan business publication, that credit unions have sought to diversify their balance sheets by making more loans to small businesses.
“I fully expect credit unions to be well-positioned to gain market share, as they have the last few years,” Adams said.

The story reported that Lake Trust CU’s business lending in 2013 grew 37 percent to 110.4 million, Lake Michigan CU grew business lending by 16 percent to $129.9 million and United FCU’s business lending was up 62 percent to $157.2 million.

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