Minnesota Credit Unions Band Together to Offer Commercial Lending

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:

  • 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 the 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.”

Learn more: www.UnitedFinancialsCapital.com

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