"Robert Madsen, owner of U-Lock Mini Storage in Surrey, is looking forward to a successful 2015 with access to Coast Capital Business Centre staff like Vivian Lee, who has helped better meet the financial needs of his business."
Surrey, B.C.: Coast Capital Savings is kicking off 2015 by responding to the increasing recognition of cities like Surrey and Langley as emerging commercial hubs though its new centre dedicated solely to meeting the financial needs of area businesses.
The credit union’s Langley Business Centre, first opened in the fall, is well positioned to tap into the growing number of businesses setting up shop in Surrey, Langley, and Abbotsford, driven in part by high Vancouver real-estate prices.
“2015 will be a great year for businesses in the region,” said Wayne Berg, chief commercial officer, Coast Capital Savings. “The south side of the Fraser is an important and emerging area of business growth here in BC, and we have a well-resourced team to conveniently serve these business customers. Whether it is through our new Langley-based business centre, or our mobile team of experts bringing business banking offerings directly to customer locations, we are focused on making business banking simple and convenient for small and medium-sized business owners.”
Heather Tully, senior manager, business banking, for Coast Capital Savings, said the seven-person team at the new business centre enables Coast Capital Savings to better serve the approximately 17,000 business customers it has in the South Fraser area, while extending services to more small and medium-sized enterprises.
“The growth of small and medium-sized enterprises in cities like Surrey and Langley is dependent on access to reliable financing and sound financial advice and that’s exactly what the new Coast Capital Savings business centre provides, ” Tully said. “Whether it’s accessing business accounts and point-of-sale payment services, or providing expert financial advice, our goal is to deliver proactive portfolio management services to business customers across the South Fraser market.”
Tully points to surveys by the Canadian Federation of Independent Business that show credit unions consistently outperform chartered banks in serving the financial needs of small and medium-sized enterprises, adding that so far, area business owners are responding positively to the mobile approach.
“We love to visit, bring coffee and hear about their business first hand, on site,” she said. “We want small businesses to feel like big businesses. Just because you're small doesn't mean you don't count.”
Robert Madsen is the owner of U-Lock Mini Storage in Surrey, a small business that provides customers with personal or business storage units featuring state-of-the-art security systems and climate control. Madsen said he has taken advantage of visits to his location by centre staff as a way to save valuable time.
“I have the option to book an appointment at the centre, or have my relationship manager drop in to discuss my financial needs. For a busy small business owner, that makes a huge difference,” Madsen said. “Small businesses are not just looking for the right products for their needs, but they also want flexibility and convenience so the mobile concept is very appealing. It allows Coast Capital to really get to know and understand my business and to provide solutions that fit my needs.”
B.C. ministry of finance records indicate that while business incorporations in Vancouver have declined over the years, an increasing number of incorporated business are calling Surrey home, with an estimated 2,000 new small businesses opening in the city annually. Langley is also chalking successes in its efforts to grow the small business sector. In October, the city received its second consecutive BC Small Business Roundtable Open for Business award from the province for fostering a supportive environment for small businesses.
"The Greater Langley Chamber of Commerce welcomes Coast Capital Savings’ Business Center to Langley to provide access to financial services and programs that will help promote business growth and success in this growing market", said Kristine Simpson, president of the Greater Langley Chamber of Commerce.
"Langley and neighboring Fraser Valley communities have been identified as the high growth markets for the next number of years in southwestern British Columbia. Access to financial services and programs are critical to promote business growth and success.”
Berg said although the mission of the Coast Capital Savings Langley Business Centre is to support small to medium-sized businesses in its market, this will result in spin-off benefits to the regional economy as a whole.
“As small businesses grow, they create more jobs, so by providing entrepreneurs with the financial foundation needed to succeed, the centre will also be serving as an economic accelerator” Berg said. “Credit unions have always maintained close ties to local small businesses and local economies and this centre will help further these connections.”
Coast Capital Savings has 36,000 small business members, accounting for one out of every 10 small business customers in British Columbia. The credit union provides $3 billion annually in loans and financing to its small business members and manages $1.9 billion of business members’ deposits.
The Coast Capital Savings South Fraser Business Centre is located at 103 – 6424 200 St. in Langley. Business customers can arrange for a visit by the mobile business team by phoning the centre at (604) 517-7020.
About Coast Capital Savings
Coast Capital Savings is Canada’s second largest credit union, owned by its 512,000 members. It has 50 branches in the Metro Vancouver, Fraser Valley and Vancouver Island regions of British Columbia and has exciting plans to grow. Product innovations include Canada's first free chequing account from a full-service financial institution. Coast Capital offers one of Canada's 10 Most Admired Corporate Cultures™ and was named one of 2014’s BC Top Employers. It is a member of Canada's Best Managed Companies Platinum Club and an Imagine Canada Caring Company. To learn more, visit www.coastcapitalsavings.com.