Two More CUs Expand Into Business Services

EAST HARTFORD, Conn. – Two more CUs are expanding into business services. The $979-million Eagle Federal Credit Union here, through a partnership with CU Business Capital, LLC (CUBC), Miramar, Fla., has expanded its offerings to include business loans, leases and SBA loans, deposit products, business checking and MMAs, remote deposit capture, commercial insurance products and more. In the process, American Eagle has become a Tier II equity partner of CUBC, which is a CUSO, entitling it to pricing discounts on CUBC services. Meanwhile, in San Jose, Calif., $300-million Valley CU also has begun offering business services, with both lending and savings products. “When we noticed a prevalence of small business owners within our membership who were dissatisfied with the business banking services they were using at other financial institutions, we decided to develop a suite of products designed to fit their unique needs,” said Derrick Fortier, AVP of Operations at Valley CU.