Many local businesses are experiencing the strain of seeing fewer customers through the door. When expenditure has been reigned in, planning and efficiency are areas where the bottom line can still be powerfully impacted.
BCU Chief Executive Lyndon Kingston believes that as a regional credit union with staff based in the heart of local communities, BCU is well aware of the issues affecting our business members.
"As far as regional business goes, ours has grown to be one of the biggest"
But that doesn't mean that we aren't encountering, on a daily basis, the same issues that the tradies, family business and contractors are going through," Lyndon said.
"It is at difficult times like these that strategic planning is vital to any business to adapt to changing market conditions.
"At BCU, we have addressed recent economic pressures with a renewed focus on the key drivers from our members' perspective, asking ourselves, how can we ensure we at BCU really are the best people locally to talk to about money?
"The result has been a strong push towards changing the way we do many of the
behind-the-scenes operations with the aim of increasing our agility, efficiency and service levels.
"By being innovative about the way we do business, we can reduce our costs while still growing and improving the services we offer. It's about taking the best expertise, technology and innovation that is available to you without losing your point of difference; which for BCU is our service and our community banking model," Lyndon said.
Executive Manager, Member Relationships, Rod Macpherson, said BCU's competitive business banking package allowed locals to tap into efficiencies that could improve their bottom line, with the bonus of keeping funds locally to bolster the local economy.
"Most of all, we offer efficiency and convenience, which can make or break a business in times like these," Rod said.
"We have local people on the ground that BCU business members can access.
These Business Service Officers go out to your business to set up accounts; train staff in Business iBank, order any necessary resources; and customise your banking in the most efficient way.
"Ultimately, it saves busy business owners time and money," Rod said. "It means members can focus on their business, knowing that their accounts have been structured and managed by a business professional who understands their goals."
BCU's business products are aimed squarely at family business - business loans, overdrafts, equipment leasing, business Visa debit cards, and online business banking - but it's the added extras that make the difference to busy business owners.
"The fact that we specialise in business banking still surprises some of our members," Rod said. "They think that because we are a credit union that we only do transaction accounts, and maybe home loans, but that's just not the case.
"We have members that have had a personal savings account or maybe a credit card with us for years, who still don't realise what we could be doing for their business."
Rod said the beauty of BCU was that the credit union could provide local family business with the same level of hands-on service and expertise that other financial institutions reserve for bigger business.
"What we can do for business is quite substantial," Rod said. "And it comes with the added benefit of knowing your money stays in the local community.
"If you've got a business, and you are not getting the service or support from your bank that you need, come and talk to us; or we'll come and talk to you," Rod said.
Could your business benefit from...
- Flexible loans to suit your cash flow
- Mobile lenders and business experts
- who come to you
- Free Business Visa Debit cards
- Online business banking to streamline payroll, bookkeeping & superannuation
- BPay
- Free promotion of your business through the Member 2 Member program
- Free deposit books, access cards and express banking bags
- Free sub accounts; internal BCU transfers and external internet transfers
- Generous loyalty rebates
- Interest yielding sub-accounts for staff leave holdings & GST
- Free sweep facilities to maximise interest and reduce fees
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