Products and Services Offered Through This Provider

Member Business Services Through a Referral Program:  Micro-lending Program (Branch cash advance), payroll services, merchant processing, data storage, health and benefit insurance, business lending and website design, development and hosting.

Who is Newtek Business Services Corp?

Newtek Business Services Corp (NASDAQ: NEWT) provides services to more than 100,000 business accounts in all 50 states. CUNA Strategic Service's alliance with Newtek began in February 2003. Newtek is a solutions provider to small and medium sized business owners through their website www.newtekone.com. The website is a portal for small-business owners who desire market data, intelligence, advice and services. 

How do credit unions benefit from this strategic alliance?

Retain your members. Provide a service to the community. And earn a fee for referring business to Newtek. It’s as easy as asking members,“Can I tell you about the small business products that we offer?” If there’s interest, a professional from Newtek will do the rest.

• There is no cost to your credit union 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.
• Your credit unions can begin offering business services to your members quickly, with no up-front investment in additional staff or infrastructure.
• Newtek provides marketing and training support for your credit union, including social media content.
• NewTracker™, an online referral system, allows credit union staff to enter and track the status of member referrals online, 24/7.
• Choose which services your credit union wants to offer to members—from one service to the entire suite.

Why this provider over another?

Newtek is focused solely on providing services to small and medium-size businesses, and does so primarily through alliance relationships. Newtek is a non-depository institution, which means they are not competing for your members' accounts. As such, the company works to preserve the relationship between each member and your credit union. A business services specialist will answer each member's questions, provide thoughtful guidance, and assist the member in the completion of the application.

Ready to get started?

For more information, contact Brenda Halverson, CUNA Strategic Services alliance manager, at 800-356-9655, ext. 4110, or bhalverson@cuna.com. Or contact Newtek directly by calling 1-855-763-9835.

More Information About Newtek

Branch cash advance program: Newtek provides your credit union with an easy way to offer cash advances at your branch locations. Benefits include:

• Non-interest income – earn revenue with every cash advance
• No cost/loe cost options available – Newtek will supply  EMV compliant payment solutions for your branch
• No liability – cash advances sit on the balance sheet of the card issuer
• Increased engagement – create an opportunity to introduce your services to non-members and enhance member loyalty
• Convenience – members and non-members with a Visa®, Discover® or MasterCard® that allows cash advance balances can access available credit line

Payroll Services: Newtek offers payroll services that are safe, sophisticated, and completely online. All transactions use 128-bit SSL encryption, which ensures data transmissions are secure. The hosting data center is SAS 70 Type II certified, meeting the strictest privacy and security standards, including Sarbanes-Oxley and HIPAA. Automatic backups, redundancy, and disaster recovery ensure the integrity and availability of all data. These payroll services are perfect for small businesses, whether they employ one or 250 employees.

• Cloud-based payroll solution, including online payroll, benefits management, time & attendance, and HR support
• Tax management and payroll experts available to answer questions
• Highly skilled Implementation Specialists to get you started quickly
• Management and employee access to payroll documents including check stubs and year-end
• Full low-touch integration of workers compensation, benefits, general ledger, and employee deductions
• Quick and easy HRIS and benefits enrollment all located on the payroll platform

Merchant Processing: In addition to credit and debit card processing, Newtek's services include:

• Point-of-Sale (POS) Solutions: Having an efficient point of sale (POS) system that includes features such as inventory and stock management, sales monitoring and reporting, employee management and many more
• Zero Cost Processing: Join the thousands of merchants who benefiting from this new solution while eliminate up to 100% of their credit card processing fees.  
• Mobile Processing: Accept payments anywhere you are using your mobile phone or tablet. With features like emailing or texting receipts, Bluetooth card readers that are EMV chip compliant with Apple Pay and Google Wallet capabilities.  
• E-commerce: Services include website builder, secure Internet payment gateway and shopping cart to run an online business
• ACH: ACH payments gives consumers more ways to pay – guarantee and non-guarantee programs available. 
• Advantage club: Merchant club offers discounted supplies and online reports
• Electronic check services: Check acceptance opens up a new transactional stream – both guarantee and verification programs available

Data Storage: Newtek provides fast, secure, off-site data backup, storage and retrieval systems designed to meet specific regulatory and compliance needs.

• No large, upfront hardware or software costs
• Access to files 24/7/365 via secure web-based administration portal
• Fully automated process with the ability to schedule backups to fit specific business needs
• Maintain detailed document versioning and history with quick and easy retrieval
• Meet all regulatory and legal requirements for data backup and retention

Health and Benefit Insurance: By working through Newtek Insurance Agency, credit union small business members now have access to health and benefit insurance. Licensed in all 50 states, Newtek Insurance Agency works with more than 40 highly rated carriers to provide the best and most cost-effective health and benefits products, including:

• Group health
• Group life
• Group accidental death and dismemberment (AD&D)
• Group short-term disability (STD)
• Group long-term disability (LTD)
• Group dental
• Group vision
• Individual and family health

Business Lending: Newtek provides SBA-guaranteed small business loans, accounts receivable financing and commercial real estate financing. Funds can be used for a wide range of business needs including:

• Purchase or refinance commercial real estate
• Open, expand or acquire a business
• Working capital
• Purchase equipment
• Make leasehold improvements
• Refinance existing business debt

Check out the FAQs on Newtek's business lending. 

Website Design, Development & Hosting: Newtek is in the unique position to offer small and medium-sized businesses a comprehensive and effective web presence. From one-on-one brainstorming sessions with a design specialist, to custom implementation and development, to personal account management throughout the life of an account, Newtek has the tools and resources to meet a business's needs. 

Connect with Newtek Business Services Corp