BURNSVILLE, Minn. (7/24/14)--To gain the trust of the business communities they seek to serve, credit unions must build true partnerships with potential members. US FCU, Burnsville, Minn., with $970 million in assets, will take a big step toward doing that when it hosts a business open house and social media seminar Aug. 12.
The credit union has partnered with the local Better Business Bureau local social media consultant KS95/Hubbard Interactive and other local resources to provide small business owners and prospective small business owners with information and networking strategies for running their businesses.
One of those resources is Open to Business, a partnership among local cities and developers that provides one-on-one business counseling to current and prospective entrepreneurs and possible access to the Metropolitan Consortium of Community Developers small business loan fund.
"One of the things we see is that business owners are really good at what they know, and that's their actual business, but when it comes to the other side of running a business, like back office needs and handling money, that's not their strength," Reyna Staats, US FCU senior business development specialist, told News Now. "This is a way for us to show how we can help them out and what resources they have available to them."
The open house is also a way for the credit union to spread the word about its services, Staats said. "A lot of people still don't know that credit unions have business accounts and have business loans," she said. "We want to the community to know that US FCU can serve your business needs as well."
Actually, US FCU views itself as more than a provider of business services, Staatz told News Now. "Half my job is to educate, and find what truly is the best fit financially for the businesses we serve. Education is very important to everything we do for both our personal and business account members."