Comerica Bank Launches Innovative New Programs to Support Local Small Businesses

Rhea-AI Summary

Comerica has launched the SmallBizCo-Op program in North Texas to enhance support for local small businesses. This initiative provides unique benefits aimed at helping these businesses thrive, addressing their common challenges. Key offerings include access to SizeUp for market research, a Sports Ticket Program for client entertainment, and a Small Business Advertising Program. The program also features significant discounts on office supplies and technology solutions. With small businesses making up 99.9% of U.S. businesses, this move underscores Comerica's commitment to empower them. The bank plans to expand this initiative nationwide.

Positive

• Launch of SmallBizCo-Op program to support local small businesses.
• Free access to SizeUp for competitive market research.
• Sports Ticket Program offers free tickets for client entertainment.
• Advertising opportunities for small businesses through Comerica's media.

Negative

• None.

Comerica's new SmallBizCo-Op program will provide North Texas small business customers access to elevated experiences and unique benefits

DALLAS, Jan. 26, 2023 /PRNewswire/ -- Comerica Bank is expanding its support for small businesses in a big way by providing North Texas customers with a set of unique new product and service offerings designed to help them grow and thrive. Through its new Comerica SmallBizCo-Op™ concept, Comerica will share its assets and resources with small business customers in the region to help them achieve their goals.

The backbone of our economy, small businesses account for 99.9% of all U.S. and 99.8% of all Texas businesses¹. Yet, most are often at a disadvantage compared to their bigger competitors – with significantly smaller budgets and fewer employees, and the owner usually playing multiple roles at once.

"At Comerica, we believe in doing everything possible to empower our small business customers and give them the opportunity to succeed," said Cassandra McKinney, Comerica Bank's Executive Director of the Retail Bank. "These opportunities are designed to deliver real value to our customers and create an even stronger relationship with them. In turn, our small business customers can then leverage these opportunities to help strengthen their own customer relationships."

Comerica SmallBizCo-Op: Unlocking new online benefits
Comerica SmallBizCo-Op is now available as a no-cost benefit to Comerica small business customers. The bank is sharing its assets and its clout to provide its small business customers with a competitive advantage in a challenging business environment. The specific components of SmallBizCo-Op include:

• SizeUp by Comerica – Allows Comerica small business customers to access competitive market research & data, better understand how their business compares to the competition, and ultimately make more informed business decisions. This perk is coming soon.
• Sports Ticket Program – Provides small business customers with the opportunity to entertain a client or share a perk with their employees through free Dallas Stars, Texas Rangers or other Dallas sports tickets. Comerica will provide small business customers two tickets to one home game every 12 months.
• Small Business Advertising Program – Gives small business customers the opportunity to advertise their business through Comerica's sports media inventory, banking center marketing TVs, sponsored events and more. Comerica will advertise small businesses for free during Dallas Stars, Texas Rangers or other Dallas sports games. Businesses are limited to one radio ad placement over the life of the Comerica SmallBizCo-op program.

Comerica SmallBizCo-op also offers customers the opportunity to save on everyday business expenses such as computer equipment, office supplies and more through multiple savings, rewards and discount programs. This includes opportunities such as the following:

• Comerica is passing on its buying clout and big company pricing discount with a major office supply retailer to its small business customers, allowing them to purchase office supplies for up to 40% less.
• Similarly, small business customers will get access to discounted pricing on software, hardware, computers and other small business technology solutions.
• Comerica CoReward$™ – Small business customers gain access to a one-stop, online shop with thousands of discounts in more than 25 categories, such as travel, home goods, cars, health and more, that are updated daily.

The launch of Comerica SmallBizCo-Op is just the first of several elevated experiences in Comerica's longer-term strategy of sharing its resources with its small business customers. Expanded elevated experiences are expected to rollout further in 2023.

"During our initial planning phase, we engaged many of our small business customers and invited them to share with us directly their specific pain points and needs. The product and service offerings we introduced today, as well as those planned for launch in 2023, have been designed specifically to address many of those needs," explained Omar Salah, Comerica Bank's Director of Small Business Banking.

Based upon the performance of its pilot program in North Texas, Comerica plans to introduce its SmallBizCo-Op program into other markets across the country in the months and years to come.

Interested small business customers can learn more about Comerica's Small Business benefits at comerica.com/succeed.

Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $85.4 billion as of Dec. 31, 2022.

Source:
   1. "2022 Small Business Profiles For The States, Territories, And Nation." SBA.gov.

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SOURCE Comerica Bank

FAQ

What is the Comerica SmallBizCo-Op program?

The Comerica SmallBizCo-Op program provides unique benefits to small business customers in North Texas, including market research tools, sports tickets, and advertising opportunities.

When was the Comerica SmallBizCo-Op launched?

The Comerica SmallBizCo-Op was launched on January 26, 2023.

What benefits does Comerica offer small businesses through the SmallBizCo-Op?

Benefits include access to SizeUp for market research, free sports tickets, advertising opportunities, and discounts on office supplies and technology.

Where is the Comerica SmallBizCo-Op program available?

The program is currently available for small businesses in North Texas, with plans for expansion to other markets in the future.