Celebrating Small Business Month with IAA Credit Union
In celebration of National Small Business Month, IAA Credit Union (IAACU) proudly highlights its ongoing commitment to supporting small businesses. As a trusted partner in the community, IAACU offers a suite of tailored financial solutions—from flexible business checking accounts to a variety of loan options—designed to foster growth, sustainability, and long-term success for all the entrepreneurs working with us.
Comprehensive Business Solutions
IAACU provides a range of services to meet the diverse needs of small businesses:
• Business Checking Accounts: IAACU's Simple Business Checking Account features no monthly fees and offers the first 100 transactions free each month, with a nominal fee of $0.25 per subsequent transaction. Account holders can manage their finances seamlessly online or via mobile devices, and benefit from free bill pay services.
• Business Loans: Recognizing the unique challenges faced by small businesses, IAACU offers various loan options, including:
- Owner and Non-Owner-Occupied Real Estate Loans: Financing solutions for purchasing or refinancing commercial properties.
- Equipment Loans: Loans tailored for acquiring and refinancing properties essential business equipment and vehicles.
- Operating and Asset-Backed Lines of Credit: Flexible credit lines to support day-to-day operations or leverage assets for business growth.
Community First Accelerate Grant Program
In collaboration with the Federal Home Loan Bank of Chicago (FHLBank Chicago), IAACU participates in the Community First® Accelerate Grant program, which provides grants to support the growth and development of small businesses in Illinois and Wisconsin. In 2024, IAACU awarded a total of $33,000 in grants to two local businesses:
• Smiley's Daycare: This daycare offers affordable, high-quality childcare by blending the comforts of home daycare with the educational benefits of larger facilities. The grant enabled Smiley's Daycare to purchase a storage shed, enhancing their ability to organize resources and provide a wider range of activities tailored to children's developmental needs.
• Clean Cans: Specializing in environmentally safe cleaning services, Clean Cans disinfects, sanitizes, and deodorizes residential and commercial trash and recycling cans. The grant supported the company's expansion plans, allowing them to invest in additional equipment and broaden their service area.
These grants, comprising $15,000 from FHLBank Chicago and an additional $1,500 from IAACU for each business, underscore IAACU's dedication to fostering local entrepreneurship and community development.
A Trusted Partner for Small Businesses
IAACU continues to be a trusted financial partner, offering personalized service and competitive financial products. Whether through innovative banking solutions or collaborative grant programs, IAACU remains committed to empowering businesses and strengthening the communities it serves.
To speak with a member of our Small Business team, visit www.iaacu.org/business.