Commercial Alliance Services Over $150 Million In Credit Union Member Business Loans
Troy, Michigan, JUNE 14, 2011 – Commercial Alliance, a leading credit union service organization, announced it has surpassed a major milestone in servicing more than $150 Million in business loans on behalf of its member credit unions. Commercial Alliance delivers comprehensive business lending support to enable their credit unions to offer business loans for companies of all sizes.
“Surpassing $150 Million in loans is a significant threshold for Commercial Alliance and our members,” said Terry McHugh, CEO & President of Commercial Alliance. “This is also a positive indicator for the small businesses in our credit union communities as many do not realize lending is happening and do not know where to turn to grow their businesses.”
Since its first loan in 2005, Commercial Alliance has provided consistent support to its credit union members despite challenging market conditions.
“Credit unions have a unique opportunity as members within their communities. Commercial Alliance provides the expertise and comprehensive business lending services to help credit unions serve their communities,” said McHugh.
Commercial Alliance currently serves 17 credit unions and continues to grow as new credit unions learn the benefit of partnering with a team that understands the needs and unique differences of each credit union. In 2010, Commercial Alliance added four new credit unions. All four credit unions were previously involved in business lending but recognized the benefits Commercial Alliance offers across underwriting, servicing and providing a participation network of credit unions that work together to help mitigate risks.
Supporting Michigan Businesses
As a member of the Michigan Credit Union League’s Small Business Financing Alliance, Commercial Alliance helps support Michigan businesses in preparing for and securing business loans. Commercial Alliance has worked with and closed loans through the Small Business Administration, US Dept Agriculture guaranteed loan programs, and the Michigan Strategic Fund.
Credit unions interested in Member Business Lending can lean on Commercial Alliance to guide them throughout the planning, building process, and day-to-day operations. To learn more about how Commercial Alliance can help support your credit union, visit www.commercialalliance.com or call (800) 518-4096.
ABOUT COMMERCIAL ALLIANCE
Commercial Alliance enables credit unions to offer business lending services to its members and communities. As a credit union service organization (CUSO), Commercial Alliance’s experienced team provides comprehensive back room infrastructure for credit unions from the start with establishing business lending services through policy creation, and then underwriting, documenting, servicing, and ongoing loan administration. Member credit unions benefit by driving earning assets, deposit growth, and overall membership while collaboratively lessening the inherent risk present in business lending. Commercial Alliance fosters a close-knit network, where the credit unions truly know each other and work together, sharing knowledge and seizing opportunity and mitigating risk through a well defined participation program.