Minnesota Credit Unions Unite to Offer Business Loans

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

  • Affinity Plus Federal Credit Union

  • Hiway Credit Union

  • SPIRE Credit Union

  • TopLine federal credit union

“We are thrilled to bring the power of credit unions’ combined values ​​and resources to the commercial lending market,” said Dave Boden, president and CEO of Hiway Credit Union, who chairs the board of directors of the new organization. He added: “This is just a starting point. We deeply believe that we are everything stronger if we work together.

“This partnership is a game-changer for Minnesota credit unions and businesses seeking commercial loans because it allows credit unions across the state to compete for larger projects with the competitive terms and services to which 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 as part of the nonprofit financial cooperative movement. . By leveraging existing resources in each identified target market, UFC hopes to reduce costs, increase revenue and create new opportunities for credit unions.

Additionally, Dalglish said the organization seeks to create a safe innovation zone to consider new business ideas within the credit union model.

“We believe that working together will be a catalyst for the future development of the credit union industry. As a group, we’ve taken a creative approach to funding projects and helping to better serve our combined 500,000 members,” said Dalglish.

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

Learn more: www.UnitedFinancialsCapital.com

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