Rumors of the demise of brick-and-mortar bank branches are not true, say area bank and credit union leaders. “I’ve been in credit unions for 34 years and we’ve always heard branches are going away. But it’s just not true,” said David Leusink, president and chief executive...
Some local bank and credit union officials say they’re anxious to cultivate the blossoming marijuana industry. There’s just one problem. Although Michigan voters approved the sale and use of medical and recreational marijuana, the drug is still an illegal controlled substance under federal law. “We’ve made the decision...
State Savings Bank in Frankfort and Central State Bank in Beulah operated separately in Benzie County under common ownership for more than 30 years. But that all changed in October. The two banks have combined under the State Savings Bank name and are expanding beyond their...
Rising interest rates have been a boon to savers, who have seen little return on their savings accounts and certificates of deposits at banks and other financial institutions in recent years. “Rates were so low, you almost expected some banks to charge people to keep their...
Tax assistance. Product labeling, rebranding and marketing. Surveying land. These are services that can be small business building blocks, but sometimes are not so easy to afford. Enter Venture North Funding & Development, with a new program to assist its loan clients with such costs. The organization,...
A commercial driveway. A labeling conveyor for bottles. Fifty bridal gowns. Little things like these had the power to make or break a new business this year in the 10-county Grand Traverse region. That's where Venture North Funding and Development steps in. Since 2015, Venture North...
Selling a home is fairly straightforward. Selling a business is anything but. Confidentiality marks the latter, says Curtis Kuttnauer, co-owner of Golden Circle Advisors (GCA), a Traverse City business brokerage that has helped several owners across Michigan sell their small- to-mid-sized businesses since GCA was founded...
From big banking establishments to local credit unions, many financial institutions are ramping up their security, overhauling their mobile apps or rolling out other new tech features or services to make life easier for their customers. The growing popularity of online and mobile banking is either...
An informal meeting last year prompted a $63.2 million merger between a downstate banking behemoth and Traverse City State Bank (TCSB). The deal was one of many in the Midwest last year, which leads the nation in the number of bank mergers. Lending limit restrictions in a...
This isn't your father's credit union. Credit unions, long known for loans to everyday Joes, are looking into a controversial new market: the cannabis industry. Since the state began licensing dispensaries, interest in marijuana-related businesses in Michigan is rising. This could allow credit unions and other financial institutions...
