Article provided by Steinbach Credit Union
For many businesses, positive cash flow is the difference between operating a successful and growing business or losing sleep over where or when your next dollar will come.
For Macanta Design Build co-owners Desmond Sweeney and Cory Kloos, Steinbach Credit Union (SCU) has played a vital role in the growth of their business while also supporting community development.
The partners believe that the secret to their success is thorough planning, good processes, and great people. Whether building their dream home or undertaking that renovation they’ve long imagined, Macanta’s focus is helping clients move from aspiration to realization. Only when the design is complete and approved by the client, and the planning process has been fully finalized, do they begin to execute the plan and deliver everything the client has requested, customized to their needs?
Sweeney’s first experience with SCU was well before he and Kloos started Macanta. He had come into a branch to open a US dollar account because the free banking account he was using couldn’t accommodate his needs. At the time, Sweeney didn’t know there was a difference between financial institutions, including banks and credit unions. As Sweeney continued to work with SCU, he began to see and feel the difference.
When asked to describe this difference, Sweeney said, “SCU seemed to care, and I am small potatoes in the big picture, but I was never treated as a small potato. Anytime I would call to ask questions, I would get great answers.”
Sweeney acknowledges that, in many ways, Macanta’s business growth has been related to its relationship with SCU. Much of this success is due to SCU’s knowledge of navigating the intricacies of builder mortgages and payment schedules. This is especially important when figuring out how to finance the gap between when a bank will pay out versus when subcontractors need to be paid.
SCU’s knowledge and experience have helped the company grow by providing expert advice whenever needed. “Sometimes we don’t know what we don’t know, and it’s beneficial to have somebody at the other end of the phone who picks up and is willing and able to provide expertise whenever we need it,” said Sweeney. He added, “When I first started in business, I thought that financial institutions were only there to provide money, either take mine or lend it. It turns out that it’s about more than just the money; it’s about having somebody in your corner who understands how money flows.”
When asked if he would recommend SCU, Sweeney said, “…ultimately, it’s about trust. Various financial institutions out there have money to lend, but I don’t know people there, and they don’t know me. I’ve worked with SCU long enough to know they are there for me when I need them.”