Spokane-based Associated Industries’ nearly 1,000 members can now access business services and products through a new partnership with Liberty Lake-based STCU.

STCU is providing members of Associated Industries, who are also members of the credit union, with exclusive merchant services pricing, lines of credit, lines of financing, and payroll services, as well as access to business deposit accounts, loans and treasury management services, and a co-branded business debit card, says Steve Hauschild, senior vice president of business banking at STCU. 

“We provide a wide array of products and services for the business members of STCU, and we also make those available to Associated Industry members as well,” Hauschild says.

Associated Industries members who currently aren’t STCU members can still meet with professionals at the credit union for financial expertise and consulting, he adds.

Special merchant services pricing is available to Associated Industries members on a case-by-case basis, Hauschild explains.

Nicole Tedrow, president and CEO of Associated Industries, says she's wanted to connect the company to a financial partner for years and expects member companies to also benefit from the partnership.

“The vast majority of our businesses are small businesses with less than 250 employees, and as a small business, you're always looking for that financial partner, and that's not something that we do, but we want to have the right partner for it,” she says. “We've looked for a long time, so this feels really good, and we are very excited about it.”

Associated Industries provides member businesses across Washington, Idaho, Oregon, and Alaska with human resources services, access to staff attorneys, health care benefits, and 401(k) program support, Tedrow explains.

The company maintains 25 full-time employees and has been in operation since 1910, she says.

STCU was founded in 1934. The credit union has over 300,000 members and operates 51 branches in Washington, North Idaho, and Eastern Oregon, according to a press release about the partnership provided by STCU.