HOW TO OPEN A BUSINESS ACCOUNT:
To be eligible to open a Business Checking account, individuals must be at least 18 years old and first open a Business Share Savings Account with a membership fee of $10 and a “share” deposit of $50 or more. Once the savings account is open, your Business Checking Account can be started with an opening deposit of $50 or more.
BUSINESS SHARE (SAVINGS) & SHARE DRAFT (CHECKING) ACCOUNT REQUIREMENTS
To Open a Business Share Account, you need the following business information according to the legal type of the business:
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CORPORATIONS |
PARTNERSHIPS |
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Tax Identification Number (TIN, FEI, or EIN)
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Social Security Number (for each officer and authorized signer)
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2 Valid Photo Ids for ALL signers (Drivers Licenses, Passport)
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Articles of Incorporation (Certified Copy)
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Trade Name Registration (required for DBA only)
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Other Information (if applicable):
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Occupational Licenses
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Meeting Minutes
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Certification Regarding Beneficial Owners
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Tax Identification Number (TIN, FEI, or EIN)
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Social Security Number (for each partner and authorized signer)
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2 Valid Photo Ids for ALL signers (Drivers Licenses, Passport)
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Articles of Partnership Agreement (Certified Copy)
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Trade Name Registration (required for DBA only)
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Other Information (if applicable):
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Occupational Licenses
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Meeting Minutes
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Certification Regarding Beneficial Owners
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SOLE PROPRIETORSHIPS |
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Social Security Number (SSN) for sole proprietor (owner) is used as the primary and the (SSN) for any (co-owner) or Tax Identification Number (EIN) for the business, if applicable)
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2 Valid Photo Ids for ALL signers (Drivers Licenses, Passport)
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Articles of Incorporation (Certified Copy)
Trade Name Registration (required for DBA only)
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Other Information (if applicable):
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Occupational Licenses
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Meeting Minutes
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LIMITED LIABILITY COMPANY (LLC) |
RECREATION, CLUBS, ORGANIZATIONS OR SIMILAR |
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Tax Identification Number (TIN, FEI, or EIN)
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Social Security Number (for each officer and authorized signer)
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2 Valid Photo Ids for ALL signers (Drivers Licenses, Passport)
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Articles of Organization or Operating
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Agreement (Certified Copy preferred)
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Trade Name Registration (required for DBA only)
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Other Information (if applicable):
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Occupational Licenses
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Meeting Minutes
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Certification Regarding Beneficial Owners
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Social Security Number or Tax ID# (whichever is applicable)
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Social Security Number (for each officer and authorized signer)
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2 Valid Photo Ids for ALL signers (Drivers Licenses, Passport)
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Board of Directors’ Minutes (or similar documentation authorizing who is allowed to open accounts and sign checks on behalf of the Club or Organization)
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Trade Name Registration (required for DBA only):
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Other Information (if applicable):
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PERSONAL INFORMATION
In addition, the following personal information is required from all business owners:
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A valid photo ID
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Proof of eligibility for membership at WUHEFCU
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A personal WUHEFCU membership is required
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Proof of Address, such as utility bill, pay stub, voter card, notarized letter of residence
All owners/ partners/ officers must be present at the credit union to open the business account.