{In} Focus Newsletter Business Newsletter / June 2016
Welcome!
www.foxcu.org/business
Welcome to Fox Communities Credit Union’s business newsletter, {In} Focus. We are off to a great start of 2016, and hope that you are too! Summer is here, the warm air is upon us, the flowers are in full bloom… and so is our business services team at Fox! During the past few months, we have been building a strong team to better serve our business members. This first quarter, Chris Allen was promoted to our VP of Business Services, Dawn Doberstein and Scott Yukel have recently joined us as VPs of Commercial Lending, and we have added a Commercial Portfolio Support Specialist to the team! Our focus is, and always will be, to build and enhance our business members’ banking relationship. We are working on new products and services to better fit your needs and focus our efforts on enhancing your relationship with us. In this issue, we will discuss some reasons why it’s great to be part of a credit union, and tell you about some great business events we are offering. Fox Communities Credit Union appreciates our business members. We value your feedback, and invite you to provide suggestions on how we can improve our service to you. We are Making Business Happen, thanks to people like you. Thank you for your business, The Business Services Team
Featured Business Member (to the left) Jason and Shauna Schmidt, owners of Little Inspirations Childcare. Learn how Fox was able to help Schmidt make his small business a success, on page 2.
In this issue: Business Events • Featured Business Member • Preventing Identity Theft Featured Business Products • Score Corner
Featured Business Products Remote Deposit Capture: depositing checks just got a whole lot easier! Remote Deposit Capture service employs leading-edge technology to provide your company with a fast, secure way to make check deposits directly from your office using a desktop computer, check scanner, and a secure Internet connection. By signing up for Remote Deposit Capture, you can: • Save time and money by making deposits when it’s convenient for you. • Enjoy improved cash flow with no holds on your funds and same business day account settlement. • Reduce the potential for fraud as checks are presented for payment quickly. • Store processed checks in a locked secure location for 90 days and then shred. • Have peace of mind, as the scanner and scanner support is included as part of the monthly service fee.
FREE Mobile Check Deposit* Can’t make it into a Branch Office? Depositing checks into your Fox Communities checking account is as easy as snapping a photo with your smartphone or tablet with our free mobile banking app – wherever, whenever. Deposits are protected through login credentials, layered security, data encryption and other controls. Depositing a check is easy as: • Downloading Fox’s FREE mobile app. In the Fox app click on “Deposit” in the menu bar. • Scroll to the bottom of the login page and click on “Signup For Account.” All members must be qualified for this service. Once you have been approved, you will be notified by email within 48 hours of application. *Member must be an online banking member to have access to mobile banking. Checks submitted after 3pm Monday - Friday, may not be deposited until the following business day.
Visit www.foxcu.org to learn more about Fox’s many Business Products.
Featured Business Member “Chris Allen and the entire Fox Communities Credit Union team have been instrumental to not only our personal finances, but also with the success of our businesses. Chris is always available to answer any questions and to ensure that every transaction goes smoothly as planned. Fox Communities has a great team to assist you to accomplish whatever your dreams are. We couldn’t have done it without them!” - Jason Schmidt, Little Inspirations Childcare
Futures Grow with our Experienced Business Services Team Appleton 920.993.9000 • Green Bay & Lakeshore 920.490.2900
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Preventing Identity Theft Business Identity Theft - Personal Risks for Business Owners and Officers You have significantly increased risks over an average consumer because your personal information, credit, and finances are so closely intertwined with your business. As a small business owner, you and your business identity may be virtually one and the same - and anything that impacts your business directly impacts you. There are new unexpected risks to you and your business risks they don't teach you about in business school:
Risk: Inability to Meet Payroll, Tax Obligations, or Pay Bills - Loss of business income may leave your
business unable to meet payroll, employment and income taxes, pay business bills, or purchase necessary supplies. As a result of having to cut back on important parts of your business such as employees.
Risk: Personal Liabilities - Most business credit cards, loans, lines of credit, and other accounts require a
personal guarantee from one or more of the business owner(s). If your business is unable to make the required payments, you may be held personally liable for the debt.
Risk: Negative Credit Reporting - Any business debt sent to collections may be negatively reported on your personal credit report as well.
Risk: Loss of Personal Income - When you rely on your business to generate income for you and your
family, lost customers, lost suppliers, lost contracts, or time taken away from running your business while trying to dispute and resolve a case of business identity theft means your business is generating less income.
Risk: Business Failure - Depending upon the thieves' actions and the severity of the financial losses, your business may become insolvent and unable to continue to operate - putting your employment, income, credit, and financial future at risks. Learn more about Business Identity Theft at www.businessidtheft.org
Immediately notify your financial if you feel you are a victim of Identity Theft.
Business Events Business Member Appreciation Events:
Thank you for those who attended our annual Business Appreciation Events in May! We truly enjoy working with all of you and feel honored to be your chosen financial. Your continued patronage and suggestions are a vital part of our growth. And for that, we are most grateful. Thanks again! We look forward to serving you for many years to come. Visit www.foxcu.org/calendar to learn more about upcoming events.
1 Million Cups - Meet every Wednesday at 9am:
This free, weekly program is designed to educate, engage, and connect entrepreneurs. As a partner of 1 Million cups, we invite you to join their 9am meetings in a supportive, neutral space welcoming entrepreneurs to be open and honest about your business(es) and the challenges you face. Learn more at www.1millioncups.com/appleton
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Score Corner: Bringing you FREE Business Expertise! Do you need business advice? Looking to bounce around some ideas and options for your business? SCORE, a national non-profit organization, and an affiliate of the Small Business Administration. They offer free confidential business advice to small businesses. Mentors are volunteers who have owned a business, have a specific business skill or are business educators. These volunteers meet with small business owners and entrepreneurs face-to-face, by phone or online. The local chapters have 50+ volunteers with backgrounds in marketing, website development, business and patent law, accounting, banking, human resources, engineering and operations. In addition to one-on-one counseling, existing businesses, of three years or more, may request a Business Scan team to review the overall company or a specific issue or business area. This team of marketing, financial and operations (plus any specific skill requested) backgrounds completes a SWOT (strengths, weaknesses, opportunities and threats) analysis and provides the owner(s) a written report. Business owners can extend the review to include an action plan proposal as well as implementation plan. To support our goal of helping small businesses succeed, they provide low cost (generally $25-$35) seminars and workshops to help small business owners improve their skills and know-how. SCORE Fox Cities has weekly “BizTalk with SCORE” radio programs, which air on 1150 WHBY on Saturday mornings at 11am, featuring entrepreneurs and business experts discussing challenges, successes and “if I’d only known” topics. SCORE helps businesses at all phases. From start-up to expansion, getting ready to sell and closing down. To initiate a request, go to the local chapters websites, www.foxcities.score.org or www.greenbay.score.org.
Fox’s Mission We at Fox Communities Credit Union have a commitment to enrich the quality of life for our members through personalized financial services. The Credit Union is dedicated to the protection of our members’ financial well-being and to operate in an economically sound manner. The Credit Union will provide an atmosphere of professionalism, friendliness, and mutual trust. We shall remain strong in the communities through our support and involvement.
Federally Insured by NCUA. Equal Housing Opportunity.
Locations Appleton
920.993.9000
Black Creek
920.984.4200
Clintonville
715.823.2191
Green Bay
920.490.2900
Manitowoc
920.682.6946
New London
920.982.9420
Oshkosh
920.233.2890
Two Rivers
920.793.1700
www.foxcu.org/business