Healthy Business Choices

Dr. Terry Estrin, Vancouver
G&F Financial Group

After registered psychologist Dr. Terry Estrin earned his PhD from Simon Fraser University three years ago, he needed money to start up his new practice but, one after another, the traditional banks turned him down.

“All they saw was the amount I owed on my student loans, and I didn’t make enough,” says Terry, who now runs a very busy practice with two offices, one in Vancouver and another in Richmond. A BC credit union, G&F Financial Group, made it possible.

“When I walked in, I wasn’t a client, but they saw more than a bank account with legs. They listened to my vision…and believed it! They gave me an extended line of credit tailored to my needs and now I’m doing very well.” (And he’s paying back his student loans.)

A G&F staff member, Andrew Solnordal, let Terry know that they were there to offer financial advice and to help him out with his business plan but he’d already done his due diligence.

“It’s different in the real world than in grad school. They need to teach students the business side of running a psychology practice,” says Terry, who has since visited his alma mater to talk to students about this matter.

BC’s credit unions recognize personal initiative and determination, qualities that are more important to business success than the size of one’s existing account. It’s a healthy perspective that pays. When startups start to generate business they tend to stick with their credit unions, establishing long term and mutually respectful relationships.

“I like the way people interact [at my credit union]. I know all the tellers’ names and they know mine. They’re nice people.”

Dr. Terry Estrin’s experience is proof that BC’s credit unions stand behind the slogan, “People before profits.”

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