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Michigan Credit Union League

MCUF Grant Helps TRUE Community Support Business Incubator for Underrepresented Communities

The Michigan Credit Union Foundation, TRUE Community Credit Union and Henry Ford Allegiance Health have joined resources to give $100,000 to The Launch Pad, a mixed-use business incubator program in Jackson.

The Launch Pad empowers local, neighborhood and service-based businesses and provides resources, education and space to serve underserved and underrepresented communities in business.

Henry Ford Allegiance Health will provide $50,000, TRUE Community Credit Union will contribute $30,000, and the Michigan Credit Union Foundation (MCUF) has awarded a $20,000 Community Enrichment Grant.

The funds will help with The Launch Pad's startup costs to provide training resources and enrich the lives of countless underrepresented and disadvantaged individuals looking for a resource and support for their businesses.

"As the Launch Pad will increase financial inclusion and small business support, it is a perfect fit for Michigan Credit Union Foundation funding goals," said MCUF Executive Director Beth Troost. "This grant amplifies TRUE Community Credit Union's commitment and investment in community partnerships to improve the financial well-being of underserved entrepreneurs."

"The Launch Pad is just one example of the progressive change coming to our community in the space of equity," said Chrissy Siders, president/CEO of TRUE Community Credit Union. "As leaders in this community, it is our responsibility to lean into the conversation, take direction, provide authentic support and allocate resources effectively to change the narrative in our community. We are committed to coming alongside advocates for change by bridging the gaps and creating opportunities. We are ecstatic to support The Launch Pad with financial and human resources and to have secured the Community Enrichment Grant from the Michigan Credit Union Foundation. We can't wait to see Jackson grow through the establishment of more small businesses!"

The Launch Pad will offer events, education, funding, mentorship and space to its clients. It will provide a physical location with a defined set of services to individuals and small businesses to meet various economic and socio-economic needs such as employment and wealth creation, support for small businesses and promoting innovation and knowledge transfer.

"We want to help business owners achieve their goals of breaking into the market," said Daniel Mahoney, The Launch Pad owner and community activist. "We hope to become the preferred brand for start-ups for the local, neighborhood, and service-based businesses."

Henry Ford Allegiance Health provides an ongoing commitment to improving the health and well-being of the communities served will continue to make a substantial investment in community education, wellness, and prevention services.

"Our organization has a deep commitment to seeing everyone in our community thrive," said Paula Autry, president/CEO of Henry Ford Allegiance Health. "We hope this latest investment in black entrepreneurship here in our community will spark economic benefits for those who have experienced the greatest barriers to successfully owning and managing their own business."

MCUF works with cooperative donations to empower credit unions to increase financial wellbeing by supporting community enrichment, financial education and credit union development initiatives. The Foundation is currently accepting applications for community enrichment grants. Learn more, donate or apply at MCUF.MCUL.org.

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2021-08-05 00:00:00