Non-Profit Savings & Checking Accounts

Eligibility · Requirements · Required Documents by Business Type

Non-Profit Saving & Checking Accounts

Non-profit organizations can have affordable business accounts, services, and loans at LES People’s FCU. Supporting Non-profit organizations and community groups is part of our mission and we look forward to build a deeper relationship to have an impact in our communities.

Eligibility

  • You can join LES People’s if your organization meets one of the following requirements:

  • Business or Organization is located in our field of membership Lower East Side See map,, East Harlem See map, Central Harlem See map, or the North Shore of Staten Island See map; or

  • Business or Organization is an HDFC Co-op building; or

  • Business or Organization is a Select Partner Group (SPG)

  • One of the authorized officers of Business or Organization is a member of LES People’s FCU

Requirements

A Business/Organization Share (Savings) Account requires:

  • Annual Account Service Fee (charged on July 31) - $5.00

  • Minimum deposit required/value of one share - $25.00

  • Minimum balance to avoid Monthly Maintenance Fee - $75.00

  • Monthly Maintenance Fee of $3.00 for accounts with combined balance below $75.00

A Business/Organization Share Draft (Checking) Account requires:

  • Initial deposit required - $50.00

  • No Monthly Maintenance Fee

  • No minimum balance required

  • Unlimited check transactions

Required Documents by Non-Profit Type

For Incorporated Non-Profit (Formal)

For Unincorporated Non-Profit (Informal)

  • Completed Business Application Package

  • Social Security or ITIN number of Officer (if applicable)

  • Proof of Non-Profit Address

  • Minutes from staff/board meeting acknowledging account opening, signers and/or changes to account/signers.

Personal Information of Officers/Owners: Applies to all business types

  • 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.

See our Fee Schedule.

Contact one of our Member Service Representatives if you have additional questions at (212) 529-8197, (or (718) 554-4544 or by emailing lespfcu@lespfcu.org.