SPOKANE, Wash. - Numerica CU has found a way to make it the first resource small businesses turn to for help by donating space at one of its branches for use by a program geared towards helping local small businesses.
Numerica CU is giving BIZStreet, Greater Spokane Incorporated's small business program, space at one of its branches to set up shop. BIZStreet will receive some office space, a desk, a computer with Internet access as well as the opportunity to distribute its literature at the $750 million credit union's Wandermere branch located along a major state highway.
Spokane Incorporated, a joint venture of the chamber of commerce and the city's economic development office, created BIZStreet as an effort to help businesses with 20 or fewer employees-88% of the city's commercial establishments-connect with one another and with vendors, as well as learn how to best leverage their opportunities in the region.
"There are a number of different hats that a business owner has to wear when they are in small business and it is our job to provide resources to help them achieve all of their goals," said BIZStreet Resource Coordinator Tate White, who emphasized the organization's focus on the growing home-based business sector. "When you're in a home based business it can be kind of lonely so it can be difficult to market your products and services, so this gives them an opportunity to get out."
The space donation should help Numerica increase its visibility in the small business community, though it already boasts impressive numbers.
"This is a joint venture with mutual benefits," said Numerica public relations coordinator Kelli Hawkins. "The obvious benefit for Numerica, is that individuals looking to start up a small business are walking into a Numerica branch for help. It's easy to walk over to our member service representatives and talk about our business services."
The 70,000-member-strong credit union ranks second among all financial institutions for small business loans in the Spokane area and sixth in the entire state. While it lags behind the banking giants, Numerica does claim supremacy among all credit unions in the small business-lending category.
"The BIZStreet center is one more way for Numerica to show support of the development and success of small businesses in the Spokane community. Their success is vital to a growing and sound economy," Hawkins said.
Numerica spent very little on the venture, paying only for the signage; the space the small business help center now takes up was not being utilized by the credit union at the time. Now businesses are meeting with BIZStreet representatives at the branch on a fairly regular basis and Hawkins believes it may just be a matter of time until the credit union reaps rewards in the form of new business members.
"So far, we see an average of one meeting per week scheduled at the Wandermere location. Some weeks there are more," she pointed out. "From these meetings, people have inquired about Numerica's small business services, and the branch manager sees interest in our products. The BIZStreet center opened in June, so it is still early to see direct loan applications and new accounts from it."(c) 2008 Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com/ http://www.sourcemedia.com/
