Transcript THIS IS A TITLE FOR THIS

Northern Credit
Union
Building Financial
Futures Together
Commercial Mission Statement
To provide a lifetime of
financial well-being to our
members
Commercial Relationships
Commercial banking is one
of relationship building.
We focus on tailoring our
lending to the needs of
your business.
We work with you to
contribute to your
successes!
What is the Difference Between
a Credit Union and a Bank?
Credit Union vs. Bank
• At the Credit Union you are a member
(voluntary membership)
• Democratic Member Control – you have the
opportunity to impact decisions. (Delegate
Group and Board)
• You are an equal owner and have a stake in
the Credit Union
• Exists to Benefit the Members
• EMPOWER LOCAL RELATIONSHIP
MANAGERS to make decisions.
BENEFITS TO COMMERCIAL
BANKING WITH NORTHERN
• At Northern Decision Making is made
in North Eastern Ontario by people
who reside here.
• At Northern You receive One on One
Relationship Management
BENEFITS TO COMMERCIAL
BANKING WITH NORTHERN
Continued
• At Northern Our lending policies are
tailored to reflect our market and
economy
• At Northern We have the discretion to
match pricing to retain our valued
members and attract new members
• At Northern We are able to offer the
same products of our competitors.
WE KNOW YOUR BUSINESS
All of our Commercial
Relationship Managers were Born and
Raised in North Eastern Ontario
We understand local conditions
because we share those conditions
with you.
Member Reference
“Northern Decision makers are more
accessible because they are here – that
gives them a clearer understanding of
our business case”
Mike Tulloch
Member Reference
“They have the ability and the power to
cut through typical banking red tape
because they can make decisions close
to home”
Ryan Saari
WE ARE
INTERESTED IN
YOUR
BUSINESS
WE ARE IN THE COMMERCIAL
BUSINESS
• Every Business is unique! That’s why we tailor our
lending to meet your business needs- We look for
ways to provide you financing
• We never refuse business before we asses the
potential opportunity
Types of Industry
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Commercial/ Residential Real Estate
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Accommodation/Food Service
Land Development
Manufacturing
Retail
Governments
Transportation
Professionals
Wholesale
Oil and Gas
Health and Social Services
Agriculture
Mining
Communication Technology
WHAT PRODUCTS
DO WE OFFER
TYPES OF LENDING PRODUCTS
Term Loans – Fixed or Variable Rate
Conventional Mortgages
Collateral Mortgages
Lines of Credit
Letters of Guarantee/Credit
Canadian Small Business Loan Financing
CMHC Secured Mortgages – Multi Unit
Residential Properties
NORTHERN STREAMLINED
BUSINESS LOAN or LINE OF
CREDIT (NSBL) PRODUCT
• This product is offered at the branch
level and are specifically for small
business members wishing to borrow
up to $25,000
NSBL Features
• FEATURES:
• Specifically for smaller businesses
who may need some extra money to
purchase equipment, inventory or
operating expenses
• Fast hassle-free application process
• Blended monthly payment for term
loans-Interest only for operating
loans.
NSBL Features
• FEATURES CONTINUED
• Simple Security Package: General
Security Agreement and Personal
Guarantee (If Required)
• Open for prepayment at any time without
penalty
• Life insurance mandatory; disability
insurance optional
• ALL MEMBER BUSINESSES ELIGIBLE
NSBL Benefits
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No annual reviews required
Term Loan with Fixed monthly
payment or Line of Credit Financing
options available
Life insured
On site authority for quick
turnaround
CORE SERVICES & PRODUCTS
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The Business 1 Account Package
Online Banking
Current Accounts and Operating Lines
Dedicated Relationship Managers
Business Loan Insurance
Card Services (Point of Sale & MasterCard)
ATM Access
Payroll Services
Wealth Management Consultants
HOW TO
PREPARE FOR
OUR FIRST
MEETING
WHAT DO YOU NEED?
• Have a Business Plan
• Projections of Income or Financial
Statements (minimum 2 years for companies currently
operating)
• Personal Net Worth Statement (assets and
liabilities)
• Any other supporting documents that
would help us to help you with your
financing needs
NOT SURE WHAT YOU NEED?
• As every business is unique – our
requirements are different for each
business.
• Make an appointment – We would be
happy to review your needs with you
and provide you with guidance.
We look forward to getting to
know you and learning more about
your company
QUESTIONS
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