Elevations Credit Union

Elevations Credit Union: Making Business Banking Easy

For over 60 years, Elevations Credit Union has joined together with its members and the Colorado community to build a successful, local co-op organization. When you trust Elevations to manage and grow your money, it stays right here in the community, empowering you and uplifting others all at once.


From youth education programs to philanthropic support of local organizations, Elevations actively reinvests in the places we call home. From volunteer time off for employees to community events and sponsorships, giving back is second nature at Elevations Credit Union. Because prosperity is best served shared.


In addition to supporting the community and providing members with personal financial solutions, Elevations also provides a consultative approach to make business banking easy. Check out an excerpt from the Elevations blog here, with tips on determining whether to buy or lease a property for your business by Ken Bauer, Elevations VP of Business Banking:


As your business grows and matures, it is almost inevitable you will ask yourself whether to buy or lease space from which to operate. Ultimately, the choice you make can have a significant long-term impact for your business.


Capital Requirements

When purchasing a commercial property, it is important to not only consider the up-front capital in the form of a down payment (typically a minimum of 20 percent of the purchase price), but also the ongoing costs of operating the building such as taxes, interest and insurance expenses, maintenance, management fees (if applicable) and repairs or replacement of systems and infrastructure. These costs can be significant and oftentimes catch a building owner off guard. Proper planning and a disciplined approach for maintaining capital reserves to handle those unexpected costs is critical. Leasing a property, on the other hand, places the responsibility for all these costs on the building’s owner, freeing you up to focus only on making your monthly rent payment.


Relative Illiquidity

Consider the relative illiquidity of a commercial property. Should you need or want to sell your property for any number of reasons, it is crucial to understand that doing so could, and likely will, take a significant amount of time, and the building must continue being maintained during that time, which costs money. When leasing, on the other hand, your financial commitment is limited only to the number of monthly payments remaining on your lease.

Read more key considerations when buying a building for your business in the blog.

Elevations local business bankers are here to help you—whether it’s deciding whether to rent or buy, improving your cash flow, reducing your borrowing needs or deciding whether a term loan or line-of-credit is best, including quick-turn credit decisions. And Elevations has locations across the Front Range, including two branches in Fort Collins. Click here to learn more about Elevations business banking and schedule an appointment at a branch near you.

Share this post

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email