A Closer Look: UCU Business Services in the Digital Age

The business world is rapidly shifting its operational structure to a digital system in direct response to the changing shopping patterns of their customers. Consumers are turning to the ease and simplicity of buying products online - and business owners are looking for digital solutions to better manage their cash flow and inventory.

UCU Business Banking is in step with this digital trend by providing its Members streamlined digital services that will transform their businesses and foster secure online engagements with their clients.

Lesya Babiy, Manager of Business Services - shares how UCU provides tailored digital services to its Members

Ukrainian Credit Union provides business services for every type of business, from a small start-up to a larger established business. You can count on our professional and experienced staff to recommend the best digital option for your business. We will review your current business situation and help you set up the digital services that best suit your growing business needs.

UCU Virtual Business Account Package - Grow Your Business and Your Business Savings

UCU Business offers 5 different business accounts, including the UCU Virtual Business Account which is a small business account for Members who want an online banking solution that will complement their growing e-commerce business.

This small business account is operated and managed by the business owner online – with no in-branch services provided. You can pay your company’s bills and move your company’s money using a computer, mobile phone or tablet without having to make a trip to your local branch.

You will be able to grow your business savings faster because the Virtual Business Account has no monthly fees, no minimum balance and no service charges. As a bonus, when you open a Business Virtual Account, you will automatically receive a Virtual High - Interest Business Savings Account.

This account will save you valuable time and money – that you can put towards growing your business.

You can find more information about UCU Business Account Packages on our website

Cash Management Services – Automate Your Business Cash Flow

Cash management is the day-to-day management of the flow of money coming into a business from its customers. Some of the money goes into a business savings account while the rest goes out to pay the company’s bills. It is a key component of the financial stability of any business.

UCU Business Services offers digital cash management services to help our Members better manage the payments their businesses receive and send.

Although some businesses continue to rely on the use of paper cheques – that volume is rapidly declining. More and more businesses are turning to the simplicity and security of an electronic payment system. UCU Business offers its Commercial Members many digital services including e-transfers and the Payment Stream AFT (Automated Fund Transfer).

Payment Stream AFT is an efficient way to send and receive one-time or recurring payments directly from or into your business account. You can pre-authorize payments coming into your business or going out of your business – scheduling the payments to automatically occur every month. This will save you time and money – no more cheques to write, mail or deposit. You will receive your payments faster, reduce error and control your cash flow management.

You can find more information about UCU Cash Management Services on our website

Merchant Services – Customize Your Business Digital Solutions

Customer behaviour is rapidly changing with an increased shift towards e-commerce. Customers want to shop and buy online, pay for their restaurant meals at their table or use their credit/debit cards when shopping at pop-up stores or markets. Businesses are looking for merchant services that will help with the transition to e-commerce and UCU Business Banking has the right solutions to help your business grow.

We have partnered with First Data to offer our Business Members the Clover Terminal and Ecwid. We have also partnered with Everlink to offer our Members the Square Terminal.

Clover is an all-in-one management system designed to help you run your business. It is both a payment terminal and point of sale terminal in one physical device. You can process more payments, offer digital receipts and manage your orders. You can also optimize your inventory with real-time updates and low-stock alerts. And clover online offers the ability for merchants to manage both their in-store and online inventory in one place.

Ecwid is an e-commerce platform that can help you create an easy-to-use online store. It will give your storefront business an online presence so you could sell your products in-house or online.

Square Terminal is an all-in-one device for payments and receipts. It accepts every type of payment securely and reliably.

You can find more information about UCU Merchant Services on our website

Business Borrowing – Keep Your Business Competitive

UCU continues to help its Commercial Members grow their business, finance properties or purchase equipment by offering competitive rates on all commercial mortgages, lines of credit and term loans. We also offer business overdraft protection so you can always pay your bills on time. You will have to visit your local branch to set up your loan but you can automate your repayment using the UCU Digital Service that best suits your business.

You can find more information about UCU Business Borrowing on our website

Contact Me if You Have Any Questions

I want to see your small business succeed and I will work with you and every UCU Commercial Member to provide custom digital solutions for your business.

Here is my contact information:

Lesya Babiy, Manager, UCU Business Services

Email: lbabiy@ukrainiancu.com

Phone: 416.233.1254 x236