Credit Unions Have Been Building
BC Businesses Since 1936
It makes sense to do your business banking with a credit union. And not just because we're in business too. Accountable to members—businesses and otherwise - we are committed to sound investments and promising financial opportunities.
In recent years, BC credit unions have reached out to local businesses, actively pursuing opportunities for mutual growth through innovative financing and cutting edge products. The small and medium-size enterprise market is seen as a natural fit for BC credit unions, and many are focused specifically on developing services for this segment. Start-ups and established businesses are increasingly aware that, when dealing with a credit union, decisions are made locally, with local industry knowledge. It's an advantage to be part of the same community.
Range of business services
New and established businesses have a lot to gain from our experience and knowledge, which translate into a useful range of commercial services available at many credit unions across the province.
Depending on the credit union, these services can include: business savings and chequing accounts tailored to your specific enterprise; business credit cards; merchant services; payroll services; automated banking convenience; $US accounts; and more. As services do vary from one credit union to another, you may want to contact your local credit union to find out what they can offer you. Find a credit union near you.
Credit unions tops in CFIB small business survey
New research findings from the Canadian Federation of Independent Business (CFIB) show that credit unions ranked first in terms of overall satisfaction among business clients. This is reflected by credit unions ranking first in seven out of the nine factors and second for the remaining two criteria. Credit unions ranked first in CFIB's 2000 survey as well.
| Factor |
Rank |
| Information requirements for financing |
1 |
| Service charges |
1 |
| Understanding of the client's business |
1 |
| Treatment by account manager |
1 |
| Travel distance to full-service branch |
1 |
| Branch hours of operation |
1 |
| Online banking |
1 |
| Willingness to lend |
2 |
| Lending terms such as interest and collateral |
2 |
|
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In just one decade, from 1993 to 2003, the combined assets of BC’s credit unions nearly doubled from almost $15 billion to over $29 billion. Deposit security and responsible, sustainable investments are among the many reasons people switch.
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