BROCKTON, Mass. - The $1.3 billion HarborOne Credit Union has rolled out its first credit card aimed at small and medium sized businesses. The new card went to Stephen Mendoza, owner of the Precise Instrument Company, a firm which sells and services microscopes.
"This is a natural expansion of HarborOne's business," said James Blake, CEO of HarborOne. "There are many small and medium sized companies in the area, including home-based businesses that would benefit from our services. Our fast turnaround time on loans-three days in most cases-and the simple application process will be a big improvement compared to other financial institutions. We also have better rates and fewer fees, and we think small business owners will find us to be a breath of fresh air to deal with."
The CU introduced the card as part of its new line of business services in early spring 2006, the CU said. The other products include business deposit accounts, business loans and online banking services.