Page 7 - 2022 Impact Report

CREDIT UNION IMPACT REPORT 7

SUPPORTING NEW BUSINESSES IN

UNDERREPRESENTED COMMUNITIES:

$100K FOR BUSINESS LAUNCH PAD

In 2021, the Michigan Credit Union
Foundation (MCUF), TRUE Community Credit
Union and Henry Ford Allegiance Health
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.

Henry Ford Allegiance Health provided
$50,000, TRUE Community Credit Union
contributed $30,000 and MCUF awarded
a $20,000 Community Enrichment Grant.
These funds helped with The Launch Pad’s
startup costs to provide training resources The Launch Pad offers events, education, funding,
and enrich the lives of countless underrepresented mentorship and space to its clients. It will provide
and disadvantaged individuals looking for a resource a physical location with a defined set of services to
and support for their businesses. individuals and small businesses to meet various
economic and socioeconomic needs, such as
“As the Launch Pad will increase financial inclusion employment and wealth creation, support for
and small business support, it is a perfect fit for small businesses and promoting innovation and
Michigan Credit Union Foundation funding goals,” knowledge transfer.
said MCUF Executive Director Beth Troost. “This
grant amplifies TRUE Community Credit Union’s “We want to help business owners achieve their goals
commitment and investment in community of breaking into the market,” said Daniel Mahoney, The
partnerships to improve the financial wellbeing of Launch Pad owner and community activist. “We hope
underserved entrepreneurs.” to become the preferred brand for start-ups for the
local, neighborhood, and service-based businesses.”
“The Launch Pad is just one example of the
progressive change coming to our community in the Henry Ford Allegiance Health provides an ongoing
space of equity,” said TRUE Community President/ commitment to improving the health and wellbeing
CEO Chrissy Siders. “As leaders in this community, it is of the communities served, and will continue to make
our responsibility to lean into the conversation, take a substantial investment in community education,
direction, provide authentic support and allocate wellness and prevention services.
resources effectively to change the narrative in our
community. We are committed to coming alongside “Our organization has a deep commitment to
advocates for change by bridging the gaps and seeing everyone in our community thrive,” said
creating opportunities. We are ecstatic to support Henry Ford Allegiance Health President/CEO Paula
The Launch Pad with financial and human resources Autry. “We hope this latest investment in black
and to have secured the Community Enrichment entrepreneurship here in our community will spark
Grant from the Michigan Credit Union Foundation. economic benefits for those who have experienced
We can’t wait to see Jackson grow through the the greatest barriers to successfully owning and
establishment of more small businesses!” managing their own business.”