Kalamazoo-based Consumers Credit Union surpassed a key milestone when it hit $1 billion in assets back in May 2018. By the end of the third quarter, the 92,000-member credit union had grown assets further to $1.07 billion, and President and CEO Kit Snyder expects assets to close the year at $1.1 billion. The growth during 2018 came as Consumers Credit Union settled into a new headquarters in The Groves Engineering Business Technology Park in Kalamazoo.

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A pair of initiatives across Southwest Michigan have a similar goal: supporting entrepreneurs starting small businesses in their respective cities and urban cores. 

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Sunday, 10 June 2018 21:14

MiBiz Growth Report: June 11, 2018

Here is the MiBiz Growth Report for June 11, 2018:

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Nearly 150 Consumers Credit Union employees from four different locations have come together in one new three-story, 92,000-square-foot headquarters.

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More bank branches closed in Michigan than in 45 other states in the years following the most recent financial crisis.

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Most research firms project the commercial real estate market in West Michigan will maintain slow but steady growth in 2016. 

Lake Michigan Credit Union in Grand Rapids and Kalamazoo-based Consumers Credit Union ranked among the 50 best-performing credit unions in the U.S. for 2015.

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Many credit unions recorded 2015 loan growth in the double digits, said Kenley Penner, a partner and the head of Plante Moran PLLC’s credit union practice. Penner attributes the results and lending growth to a “relatively strong” housing market that’s driving mortgage originations, coupled with strong sales volumes for both new and used vehicles.

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