Member Business Lending is growing fast in the USA

De meeste Credit Unions beperken zich wereldwijd tot financiering van consumenten, die ook lid zijn van zo’n Credit Union. Nederland is een uitzondering omdat kredietunies volgens de Wet Toezicht Kredietunies geen consumenten kredieten mogen verstrekken; zij richten zich dus uitsluitend op financiering van het MKB. Tot op heden hebben kredietunies in Nederland gezamenlijk voor ongeveer €25 miljoen aan MKB kredieten verstrekt, gemiddelde grootte €90.000,-. In de VS werken Credit Unions samen om aan de grote kredietvraag van SME’s (Small and Medium Sized Entrepreneurs, het Amerikaanse MKB) te kunnen voldoen.

Launch of United Financials Capital increases lending options for businesses and community developers

MINNEAPOLIS–(BUSINESS WIRE)–Four leading Minnesota-based credit unions announce the creation of United Financials Capital (UFC), a credit union service organization to collaborate on lending opportunities for large commercial and infrastructure projects throughout Minnesota and the Upper Midwest. Its founding members include:

“We’re excited to bring the power of the values and combined resources of credit unions to the commercial lending marketplace”

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  • Affinity Plus Federal Credit Union
  • Hiway Credit Union
  • SPIRE Credit Union
  • TopLine Federal Credit Union

“We’re excited to bring the power of the values and combined resources of credit unions to the commercial lending marketplace,” said Dave Boden, President/CEO of Hiway Credit Union, who serves as board chair for the new organization. He added, “This is just a starting point. We deeply believe we are all stronger if we work together.”

“This partnership is a game-changer for Minnesota credit unions and businesses seeking commercial lending, as it allows credit unions throughout the state to compete for larger projects with the competitive terms and service credit unions are known for,” said Michael Dalglish, CEO of UFC.

Through this partnership, UFC seeks to empower credit unions to access new opportunities in their communities and better serve their members – while giving back to Minnesotans under the not-for-profit financial cooperative movement. By building on existing resources in each identified target market, UFC hopes to reduce costs, increase revenue and create new opportunities for credit unions.

In addition, Dalglish said the organization seeks to create a safe zone of innovation for vetting new business ideas within the credit union model.

“We believe working together will be a catalyst for future development in the credit union industry. As a group, we have taken a creative approach towards financing projects and helping better serve our combined 500,000 members,” said Dalglish.

Added Boden, “Minnesota credit unions have always been at the heart of small and mid-sized business lending for many communities throughout the state. Combining resources and working together through the United Financials Capital CUSO can extend the reach of credit unions to opportunities often not otherwise available, and truly enable the organizations to be a significant economic engine for growth in Minnesota and beyond.”

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Michael Dalglish