Autobooks is a small business payment and accounting platform integrated
within a financial institution’s digital banking experience. Today, the
company reports that Community Choice Credit Union, 4Front Credit Union
and ChoiceOne Bank are growing deposits and identifying new
opportunities to increase fee income with Autobooks’ small business
banking platform.
Autobooks provides the underserved small business market with a way to
make banking better through simple payment and accounting tools. These
progressive institutions launched their small business networks with
Autobooks in early 2018. Since then, Community Choice Credit Union
enabled small businesses to invoice $4.8 million; members of 4Front
Credit Union invoiced $2.5 million; and ChoiceOne Bank customers
surpassed $1 million in invoicing. These financial institutions
attribute the gains to making collecting and sending invoices easy for
small businesses, which ultimately accelerates cash flow and access to
working capital, supporting their local economies.
Traverse City, Mich.-based 4Front Credit Union understands the challenge
of generating small business membership and demonstrating its value.
Keith Carey, vice president of marketing at the $525 million-asset
credit union, commented, “Autobooks helps us stand out as a better
banking provider in a crowded marketplace. Their team acts as an
extension of our credit union, helping us to build a small business
offering that resonates with our members and provides a more valuable
membership experience.”
Grand Rapids, Mich.-based ChoiceOne Bank is dedicated to meeting the
need that small businesses have for convenient banking solutions; they
aim to provide convenient services in one place instead of sending
customers to various non-bank providers. Adom Greenland, chief operating
officer at the $666 million-asset bank, commented, “Small business
owners are seeking to manage their finances in as simple as a way
possible – which previously happened using retail banking accounts or
several non-bank competitors. With Autobooks, our bank can become the
solution, offering personal support, expedited payments and easy
accounting. We are in a position to ease some of the financial stress
small businesses face.”
Similarly, Farmington Hills, Mich.-based Community Choice Credit Union
wanted to help small businesses in their communities reconcile their
books and send invoices that accept multiple forms of payments. Dan
Munro, executive vice president and chief operations officer at the $1.1
billion-asset credit union, added, “Backed by the support and expertise
from Autobooks, we can engage our neighbors with a product that
positions our community for success. Autobooks doesn’t sell a product as
much as they do a banking experience; it’s important for us to have a
partner that prioritizes the needs of our members above all else.”
Steve Robert, co-founder and CEO of Autobooks, said, “We are proud to
recognize Community Choice Credit Union, 4Front Credit Union and
ChoiceOne Bank for helping small businesses collect more than $8 million
to support local economies. This is a strong beginning to their growing
small business services. Together, we can help more small business
owners bank better and equip their companies to flourish.”
About Autobooks
Detroit-based Autobooks is a provider of small business banking
solutions that integrate within a financial institution’s digital
experience. Through Autobooks, banks and credit unions can become a
digital destination for small business owners, helping build stronger
relationships, grow deposits and identify opportunities to increase fee
income. Please visit www.autobooks.co
to learn more.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190619005142/en/