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Credit Unions Provide More than Money to Small Biz: Guest Opinion

A Sept. 11, 2013, story in Credit Union Times (Small Business Owners Plea to Credit Unions: Earn My Business) reported on a focus group of small business owners, who generally concluded that credit unions are having a hard time serving their needs compared to banks.

By Michelle Thornton | Updated on September 25, 2013
A Sept. 11, 2013, story in Credit Union Times (Small Business Owners’ Plea to Credit Unions: Earn My Business) reported on a focus group of small business owners who generally concluded that credit unions are having a hard time serving their needs compared to banks.

This may well be a case of “perception is reality,” and may once again point to the need for the industry and individual credit unions to do a better job of promoting small business services. For instance, while the article cited high praise for the friendly service of credit unions, it also recorded the worry that branches were not easily accessible to small business employees. Of course, the credit union industry’s shared branching network addresses this concern, with more than 5,000 live teller branches and 2,000 other self-service locations—a network larger than all but three national banks.

Small business is the lifeblood of America’s economy, and we shouldn’t hesitate to say credit unions have often been the lifeblood of small business.

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