iQ Credit Union Opens New Business Services Center
VANCOUVER, Wash.–iQ Credit Union here has opened a new facility here aimed dedicated to the local business community. The iQ Credit Union Business Services Center has been opened where formerly there had been a branch of Lacamas Credit Union. The credit union told the Vancouver SW Washington Business Journal that the new facility is meant to send a clear signal that it has money to lend to businesses.
According to the Business Journal, the business services center will serve as a hub for the credit union’s business lending department and will be home to 11 staffers, including loan officers, credit analysts and loan processors, as well as a 24/7 drive-up ATM.
The decision to open a new facility that’s solely focused on commercial activity should say a lot about the credit union’s confidence in the market, said Danette LaChapelle, iQ’s senior vice president of marketing.
“Coming out of the recession, people and business were skeptical and it was more difficult [to get a business loan],” Danette LaChapelle, SVP-marketing, told the Business Journal. “Since then, it has opened up. Many changes have been made and there is money to lend to businesses. This sends a good message to businesses that we are open for business and want to see them.”
The credit union said much of its current business involves lines of credit and term loans in the $50,000 to $500,000 range, but longer term iQ CU aims to be a “one-stop shop” for every small business’ needs.