Envision Financial



Envision Financial

February 14, 2014 11:49 ET

Reality Bites: Envision Financial Expert Shares Five Signs Your Bank Just Isn't That Into You

LANGLEY, BRITISH COLUMBIA--(Marketwired - Feb. 14, 2014) - Just like the dating world, where men and women have a seemingly endless pool of potential mates to choose from, so too do small business owners when it comes to choosing their financial institution. Some may choose to do business with one of the big banks, while others may choose to go with their local credit union. Whatever choice you make, Lisa Boyes, a small business commercial account manager at Envision Financial advises that one thing should remain constant-you should always feel like you are a priority in the relationship, and that your business is valued.

Boyes points to the recent hubbub surrounding HSBC's decision to end banking relationships with select small business banking accounts as a prime example. "No one should feel like they're getting the brush-off from their financial institution. At Envision Financial, we believe that small businesses form the backbone of our communities and we welcome anyone who's looking to make the switch to our local credit union. In fact, we're offering three months free access to our Unlimited Chequing for Business Account and one free order of business cheques as an added incentive."

Beyond feeling valued, Boyes shares some tips on how you can proactively gauge whether your financial institution is in it with you for the long haul:

Jumping straight to the good night kiss

"Just as open and honest communication is key to any successful relationship, taking the time to really get to know one another is so important," says Boyes. "Your account manager should want to get to know your business, why you opened it up in the first place and what drives you to succeed. That's the only way we can better understand how to help you realize your dreams and how we can get you there financially."

Judging a book by its cover

"Nobody likes it when people judge you by the clothes you wear or the car you drive," says Boyes. "So your account manager shouldn't judge you or treat you differently based on the size of your business. If someone comes into the branch looking for a small line of credit, they should be treated the same as a client who owns a multi-million dollar business. We value you and your business regardless of your size and the revenue you generate."

Doing the long-distance thing

"Long-distance relationships are tough and that goes for the one you have with your bank as well," says Boyes. "For example, if a decision needs to go all the way out east to the big bank's head office for approval, how much longer would that process take than if your account manager just walks down the hall to get approval for your request at your local credit union? At Envision Financial, our local leadership and local expertise gives us an advantage to make informed and timely decisions and act quickly. As the saying goes, 'time is money' and when we're able to save our business clients' time from having to wait for answers, we know we're making a difference."

All you do is give, give, give

Atm fees, overdraft fees, debit card fees. Small business owners everywhere know what it is like to get dinged with charges and fees for their everyday banking transactions. "Instead of sticking their hand out to collect your monthly transaction fees, your financial institution should be looking for ways to help save you money," says Boyes. "It's very easy to check-in with your business members to make sure their accounts are working from them. If I find they're not making use of certain features of their existing account, or overusing another feature, it's my responsibility as their account manager to suggest other accounts that Envision Financial offers that might be a better fit."

The cold shoulder

"Regardless of what financial institution you bank with, you should always feel like you and your business are a priority," says Boyes. "If your account manager starts avoiding you or is taking a long time to return your calls or emails, it can be a sign that you're getting the brush-off. Generally speaking, financial institutions don't play hard to get-if they want you as a customer, they will work hard to seal the deal and do their best to keep you happy."

About Envision Financial

Envision Financial is a division of First West Credit Union, B.C.'s third-largest credit union, with 40 branches and 28 insurance offices throughout the province operating under the Envision Financial, Valley First and Enderby & District Financial brands. Led by Launi Skinner, First West has $7.1 billion in assets under administration, more than 171,000 members and close to 1,300 employees. For eight years running, Envision was named one of the 50 Best Employers in Canada. For its extensive community involvement, Envision Financial is designated a Caring Company by Imagine Canada. For more information on Envision Financial, visit www.envisionfinancial.ca.

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