Check eligibility before choosing a credit union

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					                                                  Credit unions


Check eligibility before choosing a credit union                                                                                                       first time may need to do a bit more legwork,
                                                                                                                                                       one expert said.
                                                                                                                                                             “One of the first steps in choosing a credit
                                                                                                                                                       union is to research which ones the company
            By Martin C. Daks                          “We had a great experience with Affinity       she applied for the loan, “and credit was
                                                                                                                                                       is eligible to join,” said Erna Laielli, a business
When EsthEr Luongo Psarkis wanted to              Federal Credit union when we got our home           greatly squeezed, it was business as usual
                                                                                                                                                       development specialist at northfield-based Jer-
expand her home-based specialty food busi-        mortgage, so it was natural to go to Affinity for   at Affinity.”
                                                                                                                                                       sey shore Federal Credit union.
ness by taking on retail space in hillsborough,   a commercial mortgage,” said Psarkis, owner              Psarkis had a benchmark, since she
                                                                                                                                                             Some credit unions may not offer business
she turned to a lender in the Basking Ridge       and founder of taste of Crete.                      already had an established relationship with
                                                                                                                                                       services, although more seem to be joining the
section of Bernards Township that she had              “even though the banking crisis was            a credit union. But entrepreneurs who are
                                                                                                                                                       bandwagon. Among those that are courting
worked with in the past.                          really boiling in October,” when she said           dipping their toes into a credit union for the
                                                                                                                                                       companies, geography is often cited as a mem-
                                                                                                                                                       bership requirement.
                                                                                                                                                             “Jersey Shore, for example, is community



     Does your bank make
                                                                                                                                                       based,” Laielli said. “So individuals who live,
                                                                                                                                                       work, worship or volunteer in Atlantic and
                                                                                                                                                       Cape May counties are eligible for member-




      you jump through hoops                                                                                                                                      “It’s always best for a small
                                                                                                                                                                 business to take the time to sit
                                                                                                                                                                   down with a credit union

                                            
				
DOCUMENT INFO
Description: Some credit unions may not offer business services, although more seem to be joining the bandwagon.
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