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Commercial Loans: The Lifeblood of Growing Businesses

A new project in downtown South Bend is the latest illustration of the growing impact Teacher Credit Union’s commercial loan business is making around the state. TCU is the sole lender for The Barnes & Thornburg Building, the city’s first new Class A office building in nearly 20 years. 

At a groundbreaking ceremony on April 9 for The Barnes & Thornburg Building, South Bend Mayor Pete Buttigieg said, “This is exactly what we hoped, what we dared to hope, South Bend’s comeback would look like.” The opportunity to support a major local business like the Barnes & Thornburg law firm represents the heart of TCU’s mission: fueling development that strengthens communities.

“This project, like several others we’ve financed throughout the state, demonstrates TCU’s capacity to provide capital for multimillion-dollar projects,” TCU’s Vice President of Commercial Lending Joshua Neff said. “The clients we support also highlight the deep roots we have in the communities we serve.”

Among the projects TCU’s commercial loan department has helped finance:

  • Main Street Place, an 11-story office building in downtown Fort Wayne that opened in 2016.
     
  • A state-of-the-art 56-unit senior living facility in Plymouth slated to open this spring.
     
  • Satori Flats, an apartment complex in Avon, just west of downtown Indianapolis.
     
  • Ethos, an off-campus apartment community near Indiana University in Bloomington.

“TCU emphasizes adding value to businesses and institutions in our communities,” Neff said. “That sense of mission, along with the capacity to offer clients a high level of service both personally and financially, has attracted talented and experienced relationship managers to TCU from throughout the state who are knowledgeable and passionate about their local communities.”

In addition to commercial real estate development, TCU’s breadth of cash management products makes the credit union a great option for manufacturers and service providers. TCU has partnered with several businesses to provide equipment and working capital loans, along with a suite of cash management products that drive growth. 

“It’s all about finding solutions that meet a client’s needs,” Neff said. “That differs from business to business and project to project. Our deep local connections allow our team members to understand those needs at an individual level. Combined with the resources TCU offers, the service we provide develops true partnerships that help businesses grow and communities thrive.”