Business & Non-Profit Services

LES People’s Federal Credit Union offers Business Checking Accounts with no monthly maintenance fee*, no minimum balance requirement and unlimited transactions each month. Transactions include deposits (up to 30 items per deposit), ATM and teller withdrawals, transfers, checks paid, and any electronic deposit or payment.

With your business checking account you also are eligible for free:

  • ATM & Debit Cards to withdraw cash, make deposits, check balances and transfer funds between accounts for free from any of the Credit Union’s eight locations. You can also make purchases at all participating merchants, and make transactions from any ATM with the NYCE, Cirrus and MasterCard logos

  • On-line banking: available 24/7, with on-line banking you can pay your bills, check account balances, transfer funds between accounts review transactions and make loan payments. It’s secure, easy, and saves time and postage

  • Credit Card Payment Processing enables credit card purchase proceeds to be deposited into your business account, automatically. We offer you
    -Free Credit Card Equipment (for members only)
    -No Contract/Cancellation Fee (for members only)
    -Special Wholesale Rates with No Processor Transactions Fees for
    members that qualify
    – Local & 24 hour Customer Service
    For more information call (888) 368-4641

  • Overdraft Protection Line of Credit: where your checks get paid, even if you do not have sufficient funds in your Checking Account. You may apply for lines of credit up to $5,000.00. This service is free until you use it 

  • Paid Checks: you may view all the paid checks automatically through online banking  on a monthly basis.With your business checking account you also are eligible for free ATM & Debit Cards, Online Banking, Credit Card Payment Processing that enables credit card purchases to be automatically deposited in your 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 account service of $5.00 and a “share” deposit of $25.00 or more. Once the savings account is open, your Business Checking Account can be started with an opening deposit of $50.00 or more.

Businesses with higher balances would also benefit from opening an interest-bearing Money Market Account (presently 0.25%**, compounded daily), which offer six free withdrawals per month (minimum $200.00 per withdrawal) and no monthly fee for accounts of $1,000.00 or more.*  

A $3.00 monthly fee is waived for all accounts where they maintain a minimum combined balance of $75.00 in all your accounts.** Rate subject to change.

To learn more about these services and to open an account, please contact Alfonsina Morel at (212) 529-8197, ext. 115, or by email at amorel@lespfcu.org.