Forums: Discussions for entrepreneurs and small business.

First time poster here.

I`ve recently started Rowdy Labs LLC, a software tool development company. I just went through the process to set up a bank account at Wachovia, a national-sized bank for the time being to handle immeadiate deposits.

I`m looking at that, and I`m wondering if I shouldn`t be looking at Credit Unions and smaller banks for both future loan prospects, customer flexibility, lower check holding periods, and all around better service. What do you suggest, and why?

I`m of the web generation, and bank almost exclusively online. How qualified are these smaller institutions to fit this need of mine?

         --Michael Langford

I was thrilled when my Credit Union (30 years as a member) started offering business accounts about 18 months ago.  I cancelled my account with WAMU and immediately signed up with the CU.  Now, I haven`t asked for money from them, but the terms for my account were much more favorable than WAMU.  My history with that particular CU gives me a "edge",  I believe, should I ever need to get a business loan from them.

~Kim

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