April 16, 2001
Reid elected to Michigan Retailers
Association board
LANSING -- Joseph Reid, chairman, president and CEO of Capitol Bancorp Limited in Lansing and five other bank holding companies, was elected to a three-year term on the Board of Directors of the Michigan Retailers Association (MRA).
Reid is chairman of 11 Michigan banks held by Capitol Bancorp Limited: Capitol National Bank, Lansing; Portage Commerce Bank, Portage; Paragon Bank & Trust, Holland; Grand Haven Bank, Grand Haven; Muskegon Commerce Bank, Muskegon; Kent Commerce Bank, Grand Rapids; Brighton Commerce Bank, Brighton; Ann Arbor Commerce Bank, Ann Arbor; Oakland Commerce Bank, Farmington Hills; Macomb Community Bank, Clinton Township; and Detroit Commerce Bank, Detroit.
The election of Reid, the first non-retailer to serve on the Association's board, reflects MRA's strong and growing role in the credit card processing business. MRA processes credit cards for more than 5,000 businesses throughout Michigan and has partnered with 29 community banks to provide processing services to their customers.
"Bank-related partnerships and services play an increasingly important role in MRA's services to members," said Larry Meyer, MRA's CEO. "Joseph Reid will provide the Board of Directors with valuable expertise in this area."
A native of Farmington, Reid spent 20 years in the legal profession before founding Capitol National Bank in Lansing in 1982. He has since established 26 other banks in Michigan, Indiana, Arizona, Nevada, New Mexico and California.
Reid and his wife, Jerry, reside in East Lansing. They have three grown children.
The Michigan Retailers Association is the unified voice of retailing in Michigan and the nation's largest state trade association of general merchandise retailers. MRA's more than 5,500 retail business members operate more than 12,000 stores across the state.
