Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
CUcorp buys Michigan Business Connection
LIVONIA, Mich. (6/26/12)--Cucorp, a subsidiary of the Michigan Credit Union League (MCUL), will purchase a 10% share Michigan Business Connection (MBC), a credit union service organization (CUSO) that provides business-lending support to state credit unions.

The companies also are developing a marketing agreement through which MBC will use CUcorp sales representatives to augment MBC sales and customer support functions (Michigan Monitor June 25).

The CUcorp board approved the action at its June board meeting.

No purchase price for the transaction was disclosed.

CUcorp sought the relationship with MBC to facilitate increased business-lending collaboration in the Michigan marketplace; increase the number of credit unions involved in business lending, and help MCUL to develop improved business-lending education and training.

MCUL will continue working with its other business-lending partners, said Dave Adams, league president/CEO.

"While we look forward to this new partnership, MCUL remains committed to ongoing dialogue and collaboration with other Michigan-based business-lending CUSOs, such as CenCorp and Commercial Alliance," he said.


RSS print
News Now LiveWire
NCUA re-schedules start of tomorrow's closed meeting to 9 a.m. ET. Open meeting still at 10 a.m. ET.
5 hours ago
.@lisamurkowski @SenatorEnzi @SenJohnBarrasso are latest to weigh in on NCUA risk-based capital proposal. See #NewsNow tomorrow for more
6 hours ago
Now up on News Now: Fed stays course on taper, interest rates http://t.co/6DntsW58vA
8 hours ago
Positive performance indicators and the potential for rising interest rates in @TheNCUA 's latest economic update. http://t.co/yptPbIGvnU
11 hours ago
The @CFPB has launched a nationwide effort to provide financial education. http://t.co/sF3FXHpv3k
11 hours ago