SCCU Positions Itself As Alternative Source for Commercial Loans
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Brevard Business BBN News Vol. 31 No. 5 February 4, 2013 A Weekly Space Coast Business Magazine printed in Brevard County, Florida since 1984 SCCU positions itself as alternative source for commercial loans By Ken Datzman Credit unions around the nation saw their loan portfolios grow in 2012, with the third quarter a record one for the industry. In that quarter, credit unions posted 31 percent growth in loan originations over the previous year’s performance, topping $88 billion, according to Callahan & Associates in Washington, D.C., which tracks the industry. Since 2007, the start of the recession in the U.S., credit unions have originated more than 105 million loans, to consumers and small businesses, totaling $1.5 trillion. Credit–union members, it seems, continue to see value in their cooperatives, which are positioning themselves as an alternative source for businesses pursuing a commercial loan, at a critical time in the recovery when more small firms are beginning to think about future growth. Credit unions, which have a tax–exempt status, made a push into commercial lending years ago to better accommodate their business members. “From a commercial–lending standpoint, we are trying to get the word out that we feel like we are a good alternative or even a good first choice within the local communities we serve,” said Randall “Randy” Vostrejs, director of business sales and services for Melbourne–based Space Coast Credit Union. “We have the ability to provide services to any business in Brevard County. We help small businesses grow by financing their expansion efforts, supporting their working capital, and providing competitive commercial–lending products and services.” Currently, the law caps credit–union lending at 12.25 percent of total assets. The Credit Union National Association, the trade organization serving the industry, has asked Congress in a letter to enact H.R. 1418, the Small Business Lending Enhancement Act, which would BBN photo — Adrienne B. Roth raise the credit–union business–lending cap to 27.5 percent of total Randy Vostrejs is director of business sales and services for Space Coast Credit Union. He said the refinancing of commercial assets. real–estate loans for SCCU ‘took off in 2012,’ driven by competitive rates and the expansion to five commercial–lending The CUNA says that would permit credit unions to lend an specialists. Vostrejs, who is at the corporate office on North Wickham Road in Melbourne, said he sees continuing growth additional $13 billion to small businesses in the first year after this year from refinancing. enactment, helping them to create 140,000 new jobs at “no cost to taxpayers.” Space Coast Credit Union offers small businesses “competitive” NEWS, INC. NEWS, interest rates and loan products that cover real–estate purchases, BUSINESS BREVARD equipment loans, business vehicles, working capital, and refinanc- PAID ing. POSTAGE US “The refinancing of commercial real–estate loans took off for us STANDARD PRESORTED Please see Space Coast Credit Union, page 19 BBN BREVARD BUSINESS NEWS Former newspaper editor Stewart joins 2–1–1 Brevard as its communications manager Belinda Stewart of Melbourne, a former editor at “Florida Today,” has joined 2–1–1 Brevard Inc. as communications manager. Stewart started at the newspaper in 2003 as assistant metro editor and became metro editor in 2006, supervis- ing local news reporters and editors. She left “Florida Today” in 2011. Stewart also is former managing editor of the Iowa City (Iowa) Press–Citizen and assistant manager editor of the Rockford (Ill.) Register–Star. At 2–1–1 Brevard, she will lead marketing, grant–writing, social–media and other communications initiatives. She also will serve as spokeswoman. 2–1–1 Brevard is a United Way–supported nonprofit that operates a telephone–based helpline offering information, referral and crisis intervention 24 hours a day, seven days a week. Funding also comes from the Florida Department of Children and Families, Brevard County and other sources. CIA Theater veteran Hank Rion is named artistic director at the Henegar Center The Henegar Center for the Arts in downtown Melbourne has announced the hiring of Hank Rion of Indialantic as its artistic director, effective mid–February, initially on a part–time basis. He will assume the position full time in mid–May. tall one Rion has extensive experience in all aspects of theatrical production. He is currently director of the Drama Department in the Satellite High School Fine Arts Academy, where he has led the award–winning program for more than five years. Previously (2001–2007) he was an assistant professor at the College of the Albemarle in Elizabeth City, N.C. He FULL COLOR served as the college’s Fine Arts Department chairman from 2003 to 2005. Rion has performed in several national tours including “Grease” and “42nd Street.” He received his bachelor of fine arts/theater arts degree from Valdosta State University and his master’s of fine arts in directing from the City University of New York–Brooklyn College. Jess Parrish Medical Foundation accepting scholarship applications from area students TITUSVILLE — The Jess Parrish Medical Foundation is accepting scholarship applications from high–school seniors who plan to pursue a career in a medical or health–care field related to human health. Scholarship amounts range from $500 to $1,500 and recipients will be announced in May. Scholarships will be awarded to graduating high–school seniors who reside in the Parrish Medical Center service area (State Road 528 north to the Brevard–Volusia county line). Students must have a 3.0 grade–point average or greater, based on a 4.0 scale. Students who have been awarded a JPMF scholarship in previous years may reapply, provided they are continuing in a medical, health–care field related to human health and have maintained at least a 3.0 grade–point average. Students who attend Astronaut High, Space Coast High and Titusville High may obtain an application from the guidance office at their school. Others may obtain an application by calling the JPMF at 269–4066 or by visiting parrishmedfoundation.com. The deadline for submitting applications is Friday, March 15. Hilton Melbourne Rialto Place recognizes area agency as its Nonprofit of the Month In an effort to show appreciation for how Pregnancy Resources makes Brevard County a better community, the Hilton Melbourne Rialto Place has selected the organization as its Nonprofit of the Month for January. “Throughout the month our hotel is highlighting Pregnancy Resources through fund raising and awareness initia- tives,” said Kelly Williams, catering and sales manager for the Hilton Melbourne Rialto Place. “We know Pregnancy Resources is making a positive difference in the lives of local young families. We pride ourselves when it comes to working ERA closely with our area’s nonprofit organizations and we want to be a part of their efforts.” “What an encouragement for a local business to recognize our work,” added Judy Miller, executive director of Preg- pick up BBN nancy Resources. “Our staff and volunteers work tirelessly to help others and this is a great encouragement for all of us. We have also enjoyed breakfast items being delivered to our office each week this month!” 1/28/13 Pregnancy Resources provides free services, education and support in a “compassionate environment” to women and families facing unexpected pregnancy. For more information, or to register for a class, call 752–5540 or visit Page 9 www.MelbournePRI.com. Weichert executives bring firm’s program to real–estate agents at the Palm Bay office Barbara C. Wall Weichert Real Estate Affiliates’ Senior Vice President Bill Scott and Weichert Lead Network Vice President Bill Broker/Owner/President Spadea recently visited Weichert Realtors’ Hallmark Properties office in Palm Bay, which is managed by Donna Brown- [email protected] Wall www.BarbaraWall.com ing. pick up BBN Scott and Spadea came to the office to deliver “The Career Development Summit” to agents from Palm Bay and Melbourne. They travel to Weichert affiliated offices throughout the country to bring the program in–person to agents. 01/21/13 The traveling presentations are designed to bolster agent performance by offering information on “how to harness the power of the Weichert tools,” Scott said. Spadea’s training is focused on “getting the appointment in two minutes or less.” 2000 Highway AIA, Indian Harbour Beach, FL 32937 page ? The Weichert Palm Bay agency opened in July 2012 as one of two locations in Brevard County. The Melbourne office Bus 321-308-0335 Fax 321-768-1899 is managed by Michael Mattesi. Broker Steve Pilchick owns 18 Weichert franchises throughout Florida. Cell 321-749-2444 TollFULL Free 800-709-7600 COLOR Hallmark Properties is located at 5201 Babcock St., Suite 2. The telephone number is 821–4310. $QLQGHSHQGHQWO\RZQHGDQGRSHUDWHGPHPEHURI3UXGHQWLDO5HDO(VWDWH$I¿OLDWHV,QF BREVARD BUSINESS NEWS / 2 Call Adrienne Roth at 321-951-7777 for Advertising Information FEBRUARY 4, 2013 BBN BREVARD BUSINESS NEWS Henegar announces change in lineup with ‘A Grand Night for Singing’ now on schedule The Henegar Center for the Arts in Melbourne’s Downtown Theatre District has announced a change in its current season of shows. “A Grand Night for Singing,” the Tony Award–nominated musical revue by Rodgers and Hammerstein, will run March 8–24. The show replaces “Sunset Boulevard,” which the Henegar looks forward “to producing in the future.” “A Grand Night for Singing” opened the 1994 Broadway season with “flair and distinction,” earning two Tony Nomina- tions, including Best Musical. The show features “beloved songs” from “The King and I,” “South Pacific,” “State Fair” and more. “A Grand Night for Singing” runs through March 24 on Friday and Saturday evenings at 8 o’clock and Sundays at 2 p.m.