Business Savings & Checking

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:

Sole-Proprietors

  • Business Certificate*
  • Social Security Number or ITIN of Owner (if you have one)
  • Signed Account Resolution  (Form provided by LESPFCU)

*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.

Business Rates and Fees

Contact our Member Service Representatives if you have additional questions at 212-529-8197 ext. 131 or lespfcu@lespfcu.org 

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