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WEBINAR REGISTRATION |
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Upcoming Speaking Engagements
Bert Bryan
September 28 & 29 - Encore® Business Services Symposium
Click here to register
Murray Halperin
October 3-6 - Firefighters Credit Union Conference |
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ENCORE® Business Services Symposium
September 28 & 29 Marriott at Metro Center, 775 12th Street, NW, Washington, D.C.
Click here to register
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Firefighters' National Credit Union Summit
2006 Firefighters' National Credit Union Summit October 4 -7, 2006 Booth#: TBD
San Diego Hilton Resort
San Diego, CA
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CU Business Capital LLC Seeks to Improve Business Accounts and Cash Management Services for Credit Unions
Market research indicates that 83% of small businesses would use a credit union for business deposit services; we will help credit unions expand membership into this large opportunity
(Miramar, Florida) – CU Business
Capital, LLC, a business services CUSO focused on business
deposits, cash management and business lending, will officially
launch at the July 13th NAFCU Annual Conference & Exhibition
in Las Vegas.
There is significant focus by credit unions on business
lending but limited attention to the most important service
to a small business: deposit services. 89% of small businesses
view business deposit services as their greatest priority,
not lending. CU Business Capital will be much different
in this respect as the priority is to help credit unions
across the country deliver robust business deposits and
cash management services according to Bert Bryan, President
of CU Business Capital, LLC.
"The opportunity to expand membership is real; attracting a business deposit relationship usually means multiple business checking accounts, money market accounts, accounts with balances much larger than consumer deposit accounts, and typically the accounts of the principals and their employees." he says.
"Credit unions have faced many challenges with the delivery of strong business deposit services, these have included technology, staff, operations, etc. But we will offer solutions including technology, while working with existing core systems, branch training, product development, pricing analysis, and a host of services intending to enable credit unions to become strong competitors for local market business deposit relationships" said Bryan.
"The Credit Union Movement has done an excellent
job on business lending; the movement's overall performance
from delinquencies to charge-off is outstanding. That
indicates that we have very good borrowers, but good borrowers
are courted by every financial institution. 83% of borrowers
will typically have their personal deposit accounts at
the same financial institution as their business accounts.
Without a strong business deposit services program many
CUs run the risk of having their great borrowers go to
the FI that can provide better pricing based on the entire
relationship; business loans, business deposits, cash
management and personal accounts."
On the lending side, CU Business Capital will provide distinct advantages to credit unions. CU Business Capital will originate and service both conventional and SBA loans. Our origination team will leverage web based technology to provide streamlined and efficient application processing.
CU Business Capital is also partnering with Bizlendingcenter.com
to offer unique commercial lease and equipment finance
programs for credit union members. Many CU members require
smaller equipment loans and commercial vehicle finance
that can present a challenge for many CUs, however, our
partnership will allow them to overcome this hurdle and
offer competitive financing for this very large segment
of CU members.
Our servicing will eliminate the need to purchase new
business lending software or use existing retail solutions
to process and service business loans. Our technological
approach to business lending substantially reduces overall
out of pocket expenses for credit unions, and provides
a strong return on investment model. Our strong team of
professionals deliver exceptional commercial lending operational
experience, which is reflected in our training programs,
and our overall lending operations.
On the lending side, CU Business Capital will provide full services also. They can originate and service both conventional and SBA loans. The servicing aspect of our business will be advantageous to credit unions as they will not have to rely on their retail lending system to process loans, and they can rely on our strong team of professionals to deliver exceptional commercial lending operations experience.
CU Business Capital, LLC professionals have over 200 years
of experience in the financial services field. Bryan himself
has 25 years of banking experience in commercial lending,
cash management, retail and technology.
Bryan said "Credit unions can provide exactly what
many of the 23 million small businesses are looking for,
a membership lifestyle where you are not a number but
a member, where personal relationships are very important.
In order for credit unions to survive today, they need
to be able to offer their members a complete suite of
commercial financial services."
Any credit union that wants more information on CU Business Capital, LLC should call (800)-882-5018. The company will also have booth 915 at the NAFCU show July 13-16.
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