Florida’s Largest CU Launches Treasury Management Services
TMS will provide a new suite of products and services for more than 56,000 Suncoast business members.
Florida’s largest credit union said Wednesday it launched treasury management services for business members.
The $18.1 billion Suncoast Credit Union in Tampa said its treasury management services will offer a suite of commercial products and services including automated clearing house, remote deposit capture and fraud prevention tools.
“Our suite of commercial treasury management products provides the insight, technology and flexibility commercial businesses need to maximize their resources and optimize operations,” Suncoast Vice President of Commercial Services Dominic DiMaio said in a prepared statement. “These sophisticated products help businesses achieve their goals with the support of experienced teams that are dedicated to helping navigate the business landscape – all at a lower cost structure than banks.”
Through Suncoast’s partnership with Tru Treasury, a treasury management solutions provider, commercial business members will be able to drive efficiencies and controls for payment processes, simplify billing to receive faster payments, improve cash flow, eliminate paper checks and leverage enhanced fraud protection tools.
Suncoast serves 56,075 business members and manages $260.4 million in commercial loans and more than $692 million in business deposits, according to the credit union’s 2023 Annual Report. In addition, Suncoast manages $8.1 million in microloans for new company start-ups or for the expansion of existing small businesses. The average loan amount is $30,000, the Annual Report showed.