Looking to build a relationship with a local credit union in RI

[Marc Beaulieu]

I live in Rhode Island and am looking to find a lender that I can develop a relationship with. I currently own five investment properties and would like to tap into some of the equity I have built up. My goal would be to do a cash out refinance on one property, establish a line of credit on another and get pre approved for a new investment property. Has anyone had a good experience with lenders in the area? I have used a different lender for all five houses and would like to bring all my business to one person. 

[Anthony Thompson]

Marc, I've had good experiences with Pawtucket Credit Union, Navigant Credit Union and Coastway Community Bank. I had a closing with Coastway yesterday and attended the PCU annual meeting Monday. There are several good community banks & credit unions in RI, I'm sure others will be able to chime in with different names as well.

Besides general recommendations from other people, I'd also have to recommend (as silly as it sounds) picking based on convenience and proximity to where you live or spend most of your time.

There's nothing like being able to drive 5-10 minutes to the local branch to discuss new business or resolve an issue, and being able to make deposits in person (yes even in the age of mobile banking) does build up relationships over time.

One of my business partners does exactly that and when he had a minor issue recently, one of the VPs called him to let him know he's been put on a special list to be accommodated in the future.