Non-Profit Savings & Checking

Non-Profit Saving & Checking Accounts

Non-Profit Organizations located in our field of membership, operated by at least one individual who qualifies for membership, or a Select Partner Group can open Non-Profit Savings and Checking accounts at LES People’s FCU and enjoy our low-maintenance accounts. Money Market Accounts and Certificates of Deposits are also available for Non-Profit organization members.

Requirement to open a Non-Profit Savings and Checking Account by incorporation type

For Incorporated Non-Profit (Formal)

  • Completed Business Application Package (Download the business/nonprofit package here)
  • Certificate of Incorporation
  • Employer Identification Number (EIN) from IRS
  • Proof of Non-Profit Address
  • Minutes from staff/board meeting acknowledging account opening, signers and/or changes to account/signers.
  • Personal Information from all officers:

For Unincorporated Non-Profit (Informal)

All owners/ partners/ officers must be present at the credit union to open the business account.

Personal Information of Officers/Owners:

  • A valid government picture ID such as Driver’s License, State issued ID, Passport, NYC ID, Consular ID, or Benefit card
  • Present a most recent proof of address such as a utility bill, pay stub, voter ID or a notarized letter of residence.

Business Rates and Fees

Contact our Member Service Representatives if you have additional questions at 212-529-8197 ext. 115 or lespfcu@lespfcu.org 

Non-Profit Share (Savings) Accounts

The   Non-Profit   Share   (Savings)   Account  fees  are  as follows:

  • Annual $5 membership fee
  • No monthly fee for balances above $75**
  • No fee for minimum balances for members over 65 and children under 18

**Otherwise a $3 monthly fee applies. The “Monthly Fee” refers to the combined funds in both Share (Savings) and Share Draft (Checking) accounts.

Non-Profit Share Draft (Checking) Accounts

To Open a Non-Profit Share Draft Account, you need:

  • A Non-Profit Share (Savings) Account
  • Minimum deposit of $50

The Share Draft Account fees are as follows:

  • No monthly fee
  • No minimum balance required
  • Unlimited transactions ( teller or ATM deposits; teller, check or ATM withdrawals; ATM, telephone or online transfers)

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