Signing on more small businesses and a boost in deposit andloans are a few of the payoffs that have occurred since AlabamaTelco Credit Union revamped its business services program lastyear.
|The $610 million credit union in Birmingham, Ala., said througha new product lineup featuring merchant services and more depositand loan options, it has been able to expand its business portfolioby more than $9.9 million in business deposits and $9.6 million inbusiness loans since March 2012.
|Alabama Telco recently helped the owner of a localmanufacturing company refinance his building loan, which will savehim $15,000 a year for the next five years, said Julie Thomason,business development officer. He plans to use the $75,000 he'ssaved to expand his business and increase revenue, she added.
|“It's been rewarding to see how much we've been able to help ourlocal businesses. We have heard so many success stories since ournew program launched,” Thomason said.
|Glenn Sasser, owner of A Plus Silk Screen in Odenville, Ala.,and a member of Alabama Telco, was profiled by Credit UnionTimes last fall. Turned down by a number of banks to help growhis business, Sasser was able to expand thanks to financing andother services provided by Alabama Telco.
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