Businesses, located in our field of membership or operated by at least one individual who qualifies for membership, can open a Business Savings and Checking accounts at LES People’s FCU and enjoy our low-maintenance business accounts. Money Market Accounts and Certificates of Deposits are also available for Business members.
Business Share (Savings) & Share Draft (Checking) Account Requirements
A Business Savings Account can be open with a membership fee of $5 and a deposit of $25 minimum. Once the savings account is open, your Business Checking Account can be started with an initial minimum deposit of $50.
There is a $3.00 monthly maintenance fee if your combined balance is less than $75 in all your accounts.
Requirements to open a Business Savings Account by legal type of the business:
- Business Certificate*
- Social Security Number or ITIN of Owner (if you have one)
- Signed Account Resolution (Download the account resolution form here)
*If business’ and owner’s names are exactly the same, no Business Certificate is necessary.
Partnerships, Limited Liability Companies (LLCs), Corporations
- Certificate of Incorporation
- Employer Identification Number (EIN) from IRS
- Signed Account Resolution (Form provided by LESPFCU)
Personal Information: In addition, the following personal information is required from all business owners:
- A valid photo ID
- 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.
Contact our Member Service Representatives if you have additional questions at 212-529-8197 ext. 115 or firstname.lastname@example.org