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Michigan Credit Union League

MBC Announces Streamlined Subscriber Service

Michigan Business Connection has created a new subscription service platform aimed at helping credit unions get the most from sharing costs and risk in their business-lending programs.

Credit unions that partner with MBC have unlimited loan underwriting and documentation support for a fixed cost, starting at $1,750.

“Credit unions want the benefit of cost and risk sharing, but also desire flexibility and control of their member interactions,” MBC President/CEO Bill Beardsley said. “Our new subscriber service platform gives credit unions the opportunity to have the resources of a credit department for less than half of what one junior credit analyst costs.

“This is especially important in this environment as super aggressive lending by banks and other lenders puts pressure on credit union competitiveness. Having the ability to price with the market significantly enhances success.”

In addition, MBC now offers enhanced support and pricing for SBA lending and an orientation to positioning SBA loans for optimal value if sold on the secondary market.

“The sale of the guarantied portion of SBA loans has been used by banks and other lenders for a long time as a way to both serve borrowers and generate fee income and liquidity,” he said. This new enhancement is particularly helpful to credit unions as SBA loans do not count against the regulatory lending cap and the servicing of the loan can be retained by the credit union even if the loan guaranty is sold.

MBC is also excited to share news of a major milestone, having reached $500 million in new loan originations with its participating credit union partners.

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2015-02-02 00:00:00