JACKSON—The Michigan Credit Union Foundation, True Community Credit Union, and Henry Ford Allegiance Health have jointly donated $100,000 to The Launch Pad, a mixed-use business incubator program in Jackson.
The Launch Pad encourages the formation of local, neighborhood, and service-based businesses, and provides resources, education, and space to serve underserved and underrepresented communities in business.
Henry Ford Allegiance Health will provide $50,000, True Community Credit Union will contribute $30,000, and credit union foundation has awarded a $20,000 Community Enrichment Grant. The funds will help with The Launch Pad’s start-up costs to provide training resources and enrich the lives of underrepresented and disadvantaged individuals looking for support for their businesses.
“As the Launch Pad will increase financial inclusion and small business support, it is a perfect fit for Michigan Credit Union Foundation funding goals,” said the foundation’s executive director, Beth Troost. “This grant amplifies True Community Credit Union’s commitment and investment in community partnerships to improve the financial well-being of underserved entrepreneurs.”
Added the credit union’s president and CEO, Chrissy Siders: “The Launch Pad is just one example of the progressive change coming to our community in the space of equity. As leaders in this community, it is our responsibility to lean into the conversation, take direction, provide authentic support, and allocate resources effectively to change the narrative in our community. We are committed to coming alongside advocates for change by bridging the gaps and creating opportunities. We can’t wait to see Jackson grow through the establishment of more small businesses.”
And Paula Autry, president and CEO of Henry Ford Allegiance Health, said: “Our organization has a deep commitment to seeing everyone in our community thrive. We hope this latest investment in black entrepreneurship here in our community will spark economic benefits for those who have experienced the greatest barriers to successfully owning and managing their own business.”
The Launch Pad will offer events, education, funding, mentorship, and space to its clients. It will provide a physical location with a defined set of services to individuals and small businesses to meet various economic and socio-economic needs such as employment and wealth creation, support for small businesses, and promoting innovation and knowledge transfer.
“We want to help business owners achieve their goals of breaking into the market,” said Daniel Mahoney, Launch Pad owner. “We hope to become the preferred brand for start-ups for the local, neighborhood, and service-based businesses.”
True Community Credit Union was established earlier this year through the merger of CP Financial Credit Union in Jackson and Washtenaw Federal Credit Union in Ypsilanti. It has more than $600 million in assets and more than 64,000 members. More at TRUECCU.com.
Henry Ford Allegiance Health is a 475-bed teaching hospital, Level II Trauma Center and health center in Jackson. More at HenryFord.com/Allegiance.
The Michigan Credit Union Foundation is the charitable arm of the Michigan Credit Union League, the advocacy organization for the state’s credit unions. More at https://www.mcul.org/about-our-foundation.