PALO ALTO, Calif.-Expect to see enhanced small business tools when Stanford FCU launches a new website in July, said Jim Phillips, SVP and CIO at the $1.4-billion organization here.
Small business members will get enhanced commercial deposit services with cash management features, Phillips said. "We're rolling out checking that is truly competitive with large banks.
"Members will be able to click to compare fees for deposit accounts across the competition, said Phillips. "We'll show them how to pay fewer fees and take better advantage of the accounts.
"A "sweep" program will allow member businesses to keep their merchant and investment accounts in balance by automatically moving money externally or internally. "Members can eliminate nonworking capital," Phillips explained. "A lot of other institutions offer sweep programs, and we're missing out."
