For those credit unions on the fence about serving small businesses, PSCU Financial Services will develop a series of white papers on the potential advantages of capturing that market.
The first paper, "The Small Business Opportunity," describes small business owners as "super consumers" that seek multiple services for their personal and business finances, including credit and debit cards, online bill payment, checking, savings, 401(k) retirement plans and others. It is available for free at: http://www.pscufs.com/press_room/white_papers_research.htm.
PSCU Financial said the next paper will help credit unions create a customized program for small businesses that manages risk and includes measurement tools.
"Given the current instability among larger financial institutions, credit unions represent a safe harbor for small businesses and a compelling alternative to traditional banks," said David Serlo, president of PSCU Financial. "Owners also tend to be very loyal to the primary financial institution that helped them grow their business."
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