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Serious question, has anyone else tried building a payment system with a local credit union versus a big bank?
We spent six months with a major bank's API, then switched to a small credit union in Guelph and had a working prototype in three weeks. The difference was just having a direct phone number to a person who could actually fix things.
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blair_martin18d ago
Wow, that tracks with what my buddy in fintech always says about credit unions.
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the_grace17d ago
But that direct line can be a trap. What happens when your one person is on vacation or leaves? Big banks have whole teams and documented processes. My cousin's bakery got locked out of their credit union payment system for a week because their main contact was sick. The structure @rowan658 likes can also mean no backup plan. For a business, that single point of failure is a huge risk compared to a big bank's slower but more reliable support system.
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Your buddy's point is good, but it's not just a fintech thing. That direct access to a real person who can make decisions is a huge deal for any small business trying to build something custom, whether it's payments or just a weird accounting setup.
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