By Janet Weyandt
2018 was a record year for revenue, member enrollment, vendor participation and most importantly, the financial benefit it brings to users.
“Member purchase volume reached record levels in 2018,” said Chris Moore, the commercial loan manager and program director for BSF, outlining the best year for the solution since its 2011 inception. “And we are on pace for another record in 2019. It’s really exciting to see members take advantage of the increasing Member Unit (MU) funding levels.”
Because BrandSource Financial is a member-owned entity of AVB and is not run to create profits for investors, all potential profits are pushed back to members. And the more the members use the solution, the more benefits the member receives. Members can receive their share of the profits through Membership Units, which are retained as a retirement nest egg or through annual payouts with Annual Cash Distributions (ACD).
“It’s incredible to watch the impact members are having on the success of this program,” said Dave Meekings, CTO of AVB. “Because members have bought into the concept that more participation means greater rewards, we have been able to increase our MU funding levels by over 50 percent in the past four years.”
“Our scheduled 2019 MU distribution is $400 for every $100,000 in purchases,” Moore said. “And there are no growth or volume targets to receive that funding. That make this the richest program for our members in the industry.”
Carl Snyder, of Carl’s Appliance in Grand Bank Michigan, is a member who appreciates the benefits BSF brings. “I really appreciate how flexible BSF has been in accommodating my needs,” he said. “Someone is always available to answer my questions and is willing to work with me. As a small business owner it means a lot that they know who I am, and that they know my business.”
With 49 years in the industry under his belt, Snyder is also in tune with the value that BSF brings to the table. “In terms of dollars saved, the value of the BSF financing alone is worth what I pay in dues to be a member of this group,” he said. “I’m investing in my business, my future as well as helping to sustain other small business just like mine. It is a win, win, win.”
YSN is published by BrandSource parent company AVB Inc.