Local credit union vs large bank?

[Sherman Dunn]

Which is best when planning to scale into a large apartment portfolio? Credit union for small multifamily, then large bank business account as I scale larger? Or should I get started with a large bank initially? Getting a few different opinions on the street so I’d like to get a few from the BP community.

[Charley C.]

I can get local banks up to about 4 million but once I go over a even a mill, then my loan officer has to ask more branches to sign off. However, your question is about whats better local banks/credit unions or big national brands. The big national brands are completely useless to any emerging business be it real estate or otherwise. All real economic booms I actually felt, came from a strong emergence of small business with the funding from their local small banks. Big banks to me are only good for buying consumer products I probably shouldn't be buying in the first place. Before calling the loan officers and setting up an appointment, go to their website and search locations, start with the bank that has the fewest  branch locations. They well need to be located nearest the property you want to buy. That is what works for me