Michigan Credit Unions Highlighted for Business Lending Gains
Ever since the Great Recession, Michigan credit unions have stepped up their business lending while big banks pulled back. Now, it seems others have taken notice of credit unions’ commitment to lending to small businesses.
MCUL CEO Dave Adams was recently featured in Crain’s Detroit touting huge credit union business lending increases at the state and national levels.
"During tough times, credit unions kept growing their commercial loans, while banks were contracting," said MCUL's president. "From 2007-2015, credit unions nationally grew their small-business lending by 107 percent. During the same time, banks grew theirs 14 percent,” Adams’ quote read.
The article also delved into the role Michigan CUSOs such as the Michigan Business Alliance have played in the surge of Michigan credit union business loans.
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