Secondary capital helps boost financial well-being for credit union members, communities

Great Lakes Credit Union, a Northern Illinois-based credit union with more than $1 billion in assets, is focused on empowering its 80,000 members and the communities it serves—promoting financial literacy; giving back to community organizations through donations and its “Great Wave” volunteer program; and ensuring financial well-being is both simple and achievable for all, regardless of a person’s starting point.

To continue expanding its programs, GLCU recently secured a milestone $10 million in secondary capital through its strategic partnership with Brean Capital, New York, an independent advisor that serves the needs of credit unions and banks across the nation.

Awarded in late 2021, the secondary capital is enabling GLCU to move forward key strategies in its long-term plans, including enhancing its distribution channels, implementing technology upgrades, improving operations, and elevating the suite of product offerings for its members. Through these moves, GLCU aims to strengthen its commitment to its members and diverse communities for years to come.

 

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