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Friday, July 19, 2024

Credit Union, Bank Executives to Engage in Friendly/Informative Debate

Last updated Tuesday, November 12, 2013 22:07 ET

Rare Joint Panel Discussion Explores Divides, Similarities Between Bank and Credit Union Financing

Denver, United States, 11/12/2013 / SubmitMyPR /

In the spirit of putting aside age-old acrimony in order to offer local businesses the most comprehensive options for business loans, executives from FirstBank and credit union service organization Centennial Lending, LLC will discuss the divides – and the similarities – between bank and credit union financing for commercial real estate. Panel moderator and sponsor is Brian McDonald, CCIM, National Account Manager for First American Title in Denver.

Topics to be addressed include:

Where are the best deals on interest rates for commercial and multifamily real estate loans?
How tight are today’s’ underwriting standards?
Who’s the best choice for construction financing?
What king of depository relationship is required?
Who is most flexible on recourse?
What’s my best choice for a large project loan? A small balance loan?
Who is doing land loans?
What kinds of covenants need to be made?

WHO:
Laura Romero, Senior Vice President, FirstBank, Aurora Colorado
Tim Thomas, Senior Business Development Officer - Commercial Real Estate Lending, Centennial Lending, LLC, Longmont, Colorado

WHERE:
Hacienda Colorado
4100 East Mexico Avenue (Colorado Blvd. and Mexico Ave.)
Denver, CO

WHEN:
11:30 am Wednesday, November 20, 2013

BACKGROUND:
Since their existence, banks and credit unions have had an acrimonious relationship. Banks are taxed by the U.S. government. Credit unions are not. In the U.S., there are just under 7,000 credit unions; serving 93.4 million members. In Colorado there are approximately 100 credit unions, and 143 banks. Both offer unique products, but they also offer products that are complementary to both types of financial institutions. Working through their differences FirstBank and Centennial Lending, LLC offer an overall picture of commercial financing available to businesses, developers and commercial real estate investors.