Add Money One Federal Credit Union to the growing list of cooperatives that have launched a suite of business banking services.
The $98 million credit union in Largo, Md. will offer savings, checking and money market accounts, certificates and investments, lines of credits, debit and credit cards, remote deposit capture, online banking, merchant card services, payroll services and insurance.
Money One FCU said it was also recently approved to become an SBA preferred lender. The agency delegates the final credit decision and most servicing and liquidation authority and responsibility to these selected lenders.
"Every day I hear from a small business owner that they seem to have fallen through the cracks at their financial institution," said Brad May, vice president of business banking, adding by offering the new products and services, the credit union will be able to expand its reach to the small business sector.