How Local Credit Unions Like Del Norte Can Support Your Small Business

Imagine a business banking partner that knows your name, understands your unique challenges, and is as invested in your community’s success as you are. This isn’t a fantasy — it’s the reality that businesses enjoy when they choose to bank with a local credit union.

At Del Norte, we recognize that small business is the backbone of local economies, and nurturing them and giving them opportunities to thrive is key to supporting their surrounding communities — from the ground up. That’s why we offer a range of services that cater specifically to small business needs, from flexible financing options to community-focused initiatives. Looking for a small business banking partner? Keep reading to learn more about what we can do to help your New Mexico business prosper.

What Sets Us Apart

When you choose a local credit union like DNCU, you can experience numerous advantages over banking with a large, national bank. These benefits stem from our community-centric approach, personalized services, and commitment to local economic growth. Let’s take a look at each of these to see what sets up apart.

A Community-Centric Approach

Unlike big banks, we are deeply embedded in the Central communities we serve, prioritizing building and maintaining successful partnerships with small businesses from northern Albuquerque to Española. When our customers and communities thrive, we do too, creating a reciprocal relationship that benefits everyone.

Flexibility and Personalization

Working with local credit unions means engaging with real people who understand the unique demands and requirements of small businesses. At Del Norte, our team lives and works in your community, and understands its unique needs and strengths. We use our local knowledge and understanding to allow us to offer more flexibility in our financing solutions, including qualifying requirement and payment plans, so small businesses and startups can access the funds they need.

Supportive Resources

From connections to other area businesses, professionals, and supportive services, to in-house guidance and educational materials, local financial institutions offer resources tailored to business owners. At Del Norte, our educational resources are designed to help business owners develop critical money management skills – and our team is always happy to assist your small business in navigating commercial lending, breaking into local business networks, or simply setting up your first checking account. Check out other entries into our blog, which cover topics from understanding KPIs to boosting sales with merchant services.

Keeping Money Local

When partnering with a credit union, funds are reinvested locally, providing loans for other small businesses, supporting community development, and providing jobs to local residents. When you keep your money local, you support both New Mexico businesses and the broader community.

 

Products and Services that Support Small Business

At Del Norte Credit Union, we offer a variety of tailored products and services designed to support the unique needs of local small businesses. From everyday banking to specialized lending options, these services help small businesses thrive in their communities. Here are just a few of the services and products we offer.

1.  Business Checking & Business Savings Accounts

Full-Service Banking: Our business checking and savings accounts can help small business owners manage daily finances, transactions, and purchases efficiently.

Financial Tools: Our deposit accounts come with a suite of tools, including digital banking access and fraud protection, tailored to meet the needs of your small businesses.

Low Fees: Credit union business accounts typically have lower fees compared to those of big banks, reducing the financial burden on small businesses. At Del Norte, our monthly Business Checking Account fees range from only $5 to $15 per month — and come with a host of perks.

Personalized Service: Business owners receive personalized attention and service when they partner with us. We’ll work hard to ensure your specific banking needs are met promptly and effectively.

2.  Business Credit Cards

Competitive Rates: Our Credit Cards for Businesses offer competitive rates, helping to lower your interest costs.

Incentives: In addition to competitive rates, you can take advantage of a robust rewards program, allowing you to earn points, cash back, or other rewards on your purchases.

Security: Our commercial credit cards always come with enhanced security features, including fraud detection and zero-liability protection, to safeguard business transactions.

3.  Small Business Term Loans

Variety of Loan Options: We provide a range of small business loans, including financing for equipment, vehicles, and commercial real estate (more on these later).

Competitive Rates: Our business loan interest rates and fees are often lower than those of big banks, and our financing decisions are made locally to offer more flexibility.

Quick Approval Process: Our community focus and local decision-making allow us to offer a smooth approval process to give you access to your funds faster.

 

4.  Business Lines of Credit

Flexible Access to Funds: Our Business Lines of Credit provide flexible access to funds when needed, helping businesses manage cash flow and cover unexpected expenses.

Revolving Funds: As a revolving credit option, business lines of credit allow businesses to borrow, repay, and borrow again, providing ongoing access to funds, as needed.

What is a business line of credit and how does it work? Get a deeper understanding of this important financing option in our Financial Fitness section.

5.  Merchant Services

Payment Processing: If you are looking to expand your payment options and meet customers’ evolving preferences, our merchant services can provide the tools you need to accept credit and debit card payments efficiently.

Point of Sale (POS) Systems: Whether you have a brick-and-mortar store front, online platform, or need to accept payments on the go, our POS systems can help your business manage a variety of sales transactions, inventory, and even customer data securely and effectively.

A key to success in modern business? Making it easy for customers to pay. Check out the list of merchant services every small business needs.

6.  Commercial Real Estate Loans

Property Acquisition and Development: Our Commercial Real Estate Loans can support your property acquisition, development, and improvement needs.

Favorable Terms: From competitive interest rates to customizable repayment periods, we work hard to make our real estate loans more accessible and affordable for our small business partners.

Other Ways We Support New Mexico Communities

Beyond banking services, local credit unions like Del Norte provide various services to their local communities, as well as partnership and growth opportunities that can benefit small businesses. At Del Norte, we are proud to support the following events for our community and members:

Membership Appreciation Events: Throughout the spring, summer, and fall of 2024, we’ve held events at our local branches to say “thank-you” for giving us 70 fulfilling years as your preferred community credit union.

Shred Days: To help community members and small businesses protect their sensitive information, we host annual Shred Days at branches throughout the region.

Community Activities: From Pancakes in the Plaza in Santa Fe to the Thrive Community Mural Arts Project, we’re always looking for ways to engage with members of our community.

Charitable Support: We proudly support community initiatives throughout Central New Mexico.

Financial Literacy Workshops: Our free virtual financial education offerings discuss a variety of topics to increase help improve financial awareness and help you reach your personal goals.

It’s Time to Get Down to Business With Del Norte Credit Union…

Teaming up with a local credit union isn’t just about managing finances — it’s about forging a partnership that fosters community growth and small business success. At DNCU, we are deeply invested in the prosperity of the areas we serve, offering a range of services and opportunities designed specifically to support our small business partners. From low fees and competitive interest rates to personalized service and financial education resources, we can provide the essential tools that your business needs to thrive.

Choosing dncuBUSINESS empowers you with a partner who understands your business’s unique needs and is committed to your success. Check out the full line of dncuBUSINESS services, including business loans, credit cards, equipment loans, vehicle loans, digital banking, specialty services, and more.

Need assistance? Call us today at (505) 455-4678 or reach out to a member of the dncuBUSINESS team to get started on putting your business first in New Mexico and beyond.

Disclosure: This blog is for informational purposes only and does not constitute financial advice or an offer to provide any specific product or service. Please consult with a financial professional for advice tailored to your individual circumstances. Terms, conditions, and fees for products and services mentioned may vary. All products and services are subject to approval. Rates, terms, and conditions are subject to change. Please contact us for the most  current information.