ANN ARBOR, Mich.–Michigan Business Connection (MBC) announced it has achieved $500-million in managed portfolio outstandings.
“While serving the portfolio is only one of several key success measurements, there is simply no better indication of the value MBC provides to Michigan credit unions, or in the trust they place with MBC, than the growth and quality of its loan portfolio,” the company said.
“Results like these only happen because of great collaboration and teamwork; within MBC, between MBC and our CUs, and between our CUs with each other,” said president/CEO Bill Beardsley. “While many CUSOs have grown with geographic expansion, our focus remains the markets we know, and delivering value to our CUs through a unique program partnership versus transactional vendorship. Cost and risk sharing is a foundation for sustainable lending and collectively we all have proven it.”
MBC said it helps Michigan credit unions share the costs and risks of commercial loan program management. With a full-time staff of experts, they provide traditional credit risk assessment and management services, while also offering customizable front end business development and loan origination support.