Business Accounts

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:

CORPORATIONS PARTNERSHIPS
  • Tax Identification Number (TIN, FEI, or EIN)
  • Social Security Number (for each officer and authorized signer)
  • 2 Valid Photo Ids for ALL signers (Drivers Licenses, Passport)
  • Articles of Incorporation (Certified Copy)
  • Trade Name Registration (required for DBA only)
  • Other Information (if applicable):
    • ​Occupational Licenses
    • Meeting Minutes
    • Certification Regarding Beneficial Owners
  • Tax Identification Number (TIN, FEI, or EIN)
  • Social Security Number (for each partner and authorized signer)
  • 2 Valid Photo Ids for ALL signers (Drivers Licenses, Passport)
  • Articles of Partnership Agreement (Certified Copy)
  • Trade Name Registration (required for DBA only)
  • Other Information (if applicable):
    • Occupational Licenses
    • Meeting Minutes
    • Certification Regarding Beneficial Owners
SOLE PROPRIETORSHIPS  
  • 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)
  • 2 Valid Photo Ids for ALL signers (Drivers Licenses, Passport)
  • Articles of Incorporation (Certified Copy)
    Trade Name Registration (required for DBA only)
  • Other Information (if applicable):
    • ​Occupational Licenses
    • Meeting Minutes
LIMITED LIABILITY COMPANY (LLC) RECREATION, CLUBS, ORGANIZATIONS OR SIMILAR
  • Tax Identification Number (TIN, FEI, or EIN)
  • Social Security Number (for each officer and authorized signer)
  • 2 Valid Photo Ids for ALL signers (Drivers Licenses, Passport)
  • Articles of Organization or Operating
  • Agreement (Certified Copy preferred)
  • Trade Name Registration (required for DBA only)
  • Other Information (if applicable):
    • Occupational Licenses
    • Meeting Minutes
    • Certification Regarding Beneficial Owners
  • Social Security Number or Tax ID# (whichever is applicable)
  • Social Security Number (for each officer and authorized signer)
  • 2 Valid Photo Ids for ALL signers (Drivers Licenses, Passport)
  • Board of Directors’ Minutes (or similar documentation authorizing who is allowed to open accounts and sign checks on behalf of the Club or Organization)
  • Trade Name Registration (required for DBA only):
  • Other Information (if applicable):
    • Occupational License

 

PERSONAL INFORMATION
In addition, the following personal information is required from all business owners:

  • A valid photo ID
  • Proof of eligibility for membership at WUHEFCU
  • A personal WUHEFCU membership is required
  • 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.

To Apply For A Business Account Click Here

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Phone: 516-493-9400 | Fax: 516-441-6769
Email: info@wuhefcu.org
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