Yacht Loans Made Easier: Boston Bank Adds Boat Financing

September 13, 2012

First Trade Union Bank announced rejoined the yacht-financing market and hired a senior executive to manage its yacht-financing program. The bank named Jim Velez Senior V.P. of Yacht Lending and said he will be responsible for expanding its consumer lending portfolio in that business.

The bank said Velez, who lives in Fort Lauderdale, has more than 30 years of experience in the yacht lending industry. Before he joined First Trade, Velez worked for KeyBank and has also been president of First New England Financial, where First Trade said he built a portfolio of yacht loans that included individual transactions of as much as $25 million.

The Boston-based bank has offices in Massachusetts and New York.

FOR IMMEDIATE RELEASE
Contact:
Stephanie Rollins
Marketing Officer
First Trade Union Bank
Phone: (617) 728-7318
E-Mail: srollins@ftub.com
Friday, September 07, 2012
FTUB Hires Jim Velez, SVP / Yacht Lending
Boston, MA – First Trade Union Bank (www.ftub.com), a full-service bank with offices in Massachusetts and New York, recently hired a seasoned marine lending professional as it announced its re-entrance into the Yacht Financing market.
Jim Velez was named Senior Vice President / Yacht Lending for First Trade. In his role, Mr. Velez will manage the Bank’s Yacht Financing program and will be responsible for expanding its consumer lending portfolio in this area. Mr. Velez, who resides in Fort Lauderdale, FL, has over 30 years of experience in the marine lending industry. Prior to joining First Trade, Velez worked for KeyBank and has also served as President of First New England Financial, where he built a portfolio of yacht loans that included individual transactions of up to $25 million.
“I am very excited to announce that First Trade Union Bank has re-entered the Yacht Financing market, hiring Jim Velez to lead this initiative,” commented Paul Bolger, First Trade’s EVP / Chief Banking Officer. “He brings a wealth of experience and knowledge of the boating industry to First Trade and we look forward to the many benefits and opportunities this new division will provide the Bank.”
First Trade is actively lending and looking to make yacht loans to consumers. To learn more about the Bank’s Yacht Lending program, contact Jim at jvelez@ftub.com or by phone at 954-557-5148.
About First Trade Union Bank
With assets over $576 million, First Trade Union Bank is a well-capitalized community bank offering a full complement of business and consumer products and services. First Trade has a long-standing reputation for serving middle market, small business, unions, government entities and consumers as its core clients. The Bank has a profound understanding of its role in the industry: to provide a complete offering of products and services that respond to the needs of their clients, delivered in a way that encompasses the highest level of personal service in-person,
online, or by phone. First Trade is deep in category experience and committed to providing the attentive service that today’s businesses and consumers require. First Trade also offers mobile banking, 24-hour ATM service, and the most advanced technologies in Online Banking for consumer and business customers. Customers can readily access traditional, personalized branch banking at their offices located throughout Massachusetts and New York. First Trade is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For further information call 800-242-0272 or visit the Bank’s website at www.ftub.com.
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