Alaska business banking trends: addressing customer needs and preferences.

• Author: Barbour, Tracy
• Position: FINANCIAL SERVICES

Recently, Denali Federal Credit Union began offering customers a special perk: the Denali Business Center. Business members can use the Midtown Anchorage facility to host meetings, conferences, and other events in a professional setting. They can take advantage of the center's private offices, small meeting rooms, state-of-the-art video conferencing, and copy and fax equipment. There's also a resident concierge available to help with everything from room reservations to refreshments.

The Denali Business Center is a valuable and much-needed resource in the community, particularly for small business owners, says Tara Tetzlaff, senior vice president, Business Lending And Services. The center is also a positive selling point for the Credit Union. "It is an excellent way to differentiate ourselves from the competition and to serve business owners who don't have the resources," Tetzlaff says. "It's high-tech, and they like it."

Denali's business customers can use the center's amenities for $25 per day or $300 per year. However, the credit union may be able to waive the annual fee for certain members. "It depends on the relationship," Tetzlaff says.

The Denali Business Center is an example of how Alaska's financial institutions are enhancing their products and services to meet the needs of business customers. Other business banking trends in Alaska range from increased interest in offerings from credit unions to a greater demand for technology, fraud protection, time-saving services, and small business solutions.

Credit Unions Catering to More Businesses

Today, credit unions are more focused on offering business banking services than they have been in the past, according to the National Credit Union Administration. Credit unions have found a niche supporting small businesses that may be neglected by other, larger institutions, Tetzlaff says. This is enabling them to expand their membership and better serve their existing customers. "For years, our consumer members who also owned businesses have requested services," she says. "By developing products to serve the needs of these members, we can provide the personal service and individualized products that retain their personal and business relationships."

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More business owners are looking toward credit unions to fulfill their commercial banking needs, Tetzlaff says. And Denali FCU is striving to meet their expectations. For instance, the credit union offers automated clearing house (ACH) service that enables customers to pay bills, withdraw payments, and direct deposit payroll conveniently online. They can also use remote deposit capture to deposit up to 150 check items in one scan without leaving their office, paying a courier service, or mailing the items.

Beyond its deposit products, Denali offers an array of business lending products to meet customers' needs. Recently, the credit union began issuing business Visa cards that offer the ability to establish cardholder limits and even control what items can be purchased.

In its efforts to cater to businesses, Denali allows business members to establish accounts according to their preference. Members can set up sub accounts as well as establish multiple accounts with unique numbers for different purposes. "Denali is flexible and can support a variety of needs," Tetzlaff says. "Our Business Financial Services team will take time to get to know our members and offer the mix of products that best fits their business operations."

The increased presence of credit unions in commercial banking is a positive trend for the business community, according to Dave Hamilton, executive director of Business and Commercial Services at Alaska USA Federal Credit Union. Alaska USA--which has offered...