Newtek Business Services Corp
Business services for credit unions and their members
Who is Newtek?
Newtek Business Services Corp (NASDAQ: NEWT) is a solutions provider to businesses of all sizes. From business lending and merchant processes to insurance and website services, Newtek lets credit unions expand their small business offerings without in-house expertise.
How a strategic alliance with Newtek benefits credit unions
Offer your members business services from a trusted provider that aims to help you keep your members served and engaged. When you refer members to Newtek, you earn a referral fee, which creates a new revenue stream for your credit union without overhead or expansion.
Newtek is a non-depository institution, which means they are not competing for your members' accounts. They understand the importance of preserving the relationship between each member and your credit union.
Why choose Newtek
Newtek provides services to more than 100,000 business accounts in all 50 states. CUNA Strategic Services began our alliance with Newtek in February 2003. Developing a new revenue stream and better serving members is as easy as asking, “Can I tell you about the business products that we offer?” If there’s interest, a professional from Newtek will do the rest.
Products and services
Newtek offers flexibility in their credit union small business referral program. Choose which services your credit union wants to offer to members—from one service to the entire suite. You can begin offering business services to your members quickly, with no up-front investment in additional staff or infrastructure.
There is no cost to your credit union for these services, and you'll receive a one-time referral fee or an ongoing revenue share, depending on the specific service, providing a source of non-interest income.
Newtek provides marketing and training support, including social media content. And with NewTracker, an online referral system, credit union staff can enter and track the status of member referrals online, 24/7.
Why we like these solutions:
- Offer your members useful services without overhead and infrastructure
- Gain additional non-interest income
- Newtek handles sales and fulfillment
- Backed by a trusted provider
Connect with Newtek
Talk to one of our CUNA Strategic Services alliance managers to learn more about Newtek. We’ll help you identify and evaluate the best solution for your credit union.
Newtek has exclusive pricing and solutions reserved for CUNA Strategic Services and the credit unions and leagues we work with.