Every business owner needs
to know their money is well protected, whether a sole proprietor operating out
of a one-person office, an entrepreneur with an expanding client base, or one
of Oregon’s largest employers. At SOFCU Community Credit Union, your business finances
are safe and sound because of the many years of history as an Oregon credit
unit combined with our recent affiliation with First Community Credit Union.
Our motto at SOFCU is
“It’s all about you,” and we really mean it. As a member owner of our credit
union, you get our complete attention, from simple transactions like making a
deposit or withdrawing money, to loan processing and help with financing to
expand your business.
Business owners have
specific needs at different times, so SOFCU staff is there to customize
services accordingly. The following are several different types of services
that business owners often need, and that SOFCU provides.
Vehicle Purchases or Leases
SOFCU provides term loans
for members to purchase autos, trucks and even growing fleets for businesses
that are growing.
Real Estate Purchase or Rental
Every business requires an
office or a facility in which to manufacture a product or provide a service.
SOFCU offers real estate loans and lines of equity for the purchase or
refinance of a commercial property, or for the lease or rental of a building or
office.
Equipment Upgrades or New Buys
Often times, business
expansion requires upgrades of equipment, or the purchase of new equipment. With SOFCU’s term loans, a business owner can
increase its capacity and efficiency to better serve customers.
Cash Flow
With a secured business
equity line of credit, company owners will improve their cash flow, have the
ability to make routine purchases, and have immediate access to money in case
of emergency.
Business Expenses
With a SOFCU credit card,
business owners can purchase supplies and pay for travel, entertainment or
other expenses. Credit cards not only offer buying power, but provide a
tracking method for expenses.
For more information on
business lending services, contact the SOFCU branch nearest you or call at
877-266-2601 to speak with a Branch Manager. You can also visit SOFCU’s website
at www.sofcu.com, or follow the Oregon credit union on Twitter and
Facebook.
Online
banking has really taken off, with an increasing number of people taking
advantage of this stay-at-home approach to managing their accounts and
finances. In most cases, credit unions and banks offer this service for free
because it reduces paperwork and staffing overhead. With online banking,
customers can get their account balances, transfer funds, pay bills online and
do a number of other transactions – all without having to go into the bank or
make a call to a branch office. 
As the economy has dipped over the past several years, people
have gotten used to living with less and many have learned how to budget better. Some have downsized their homes, purchased
fewer toys (as in boats, off-road vehicles, jet skis and the like), learned to
take advantage of sales in department stores, and started using coupons in
grocery stores. In addition, people have figured out how to have summer
vacations at home or in nearby cities.
There are some similarities, but also many significant
differences between banks and credit unions. For example, banks are profit-generating
businesses while credit unions are not-for-profit organizations that promote the
value of service over profitability. Credit unions are also well known for adherence
to sound financial standards, for providing employee-friendly workplaces, and
for credit union leadership and staff who are involved with volunteerism within
the communities they serve. 