Business Accounts
You must schedule an appointment to open a business account.
Appointments are only available Monday - Friday.
BAFCU Business Account Advantages Include:
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Minimum share account balance of $25.00
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No minimum balance checking account with Overdraft Protection
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Free on-line bill pay
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Free BAFCU Remote Deposit Capture
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BAFCU Mobile application
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BAFCU Overdraft Advance Protection – $300 limit
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Member Business debit cards – instant issue
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Member Business Credit Cards – Platinum and Classic with fixed rates and NO balance transfer fees
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Low monthly maintenance fee of $25
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Click here to download the information on this page in a printable PDF format.
Business Account Documentation Requirements
Business Type
Documentation
Sole Proprietor
Copy of SSN or EIN certificate; Physical address of business (no PO box); Fictitious name certificate (if applicable*); business license (if any); Financial statement
Copy of SSN or EIN certificate; Physical address of business (no PO box); Copy of the partnership agreement; Fictitious name certificate (if applicable*); business license (if any); Financial statement
Partnership LLC
Copy of SSN or EIN certificate; Physical address of business (no PO box); Copy of the articles of incorporation; Fictitious name certificate (if applicable*); business license (if any); Financial statement
Corporation INC or CO
Club or Association
Copy of SSN or EIN certificate; Physical address of business; Copy of meeting minutes, charter/bylaws, other documents to establish the organization; document of authority of signers; Financial statement
Limited Liability Company
Copy of SSN or EIN certificate; Physical address of business; Copy of articles of organization; business license (if any); Financial statement
*Fictitious Name Paperwork is not required if the name of the individual owner is also the name of the company/partnership
DISCLOSURE: The partnership/company owner(s) must be within our FOM to qualify for Business account membership. All signers must provide current state identification with valid address and proof of membership eligibility.
Beneficial Ownership Information (1/1/2024)
Beginning on January 1, 2024, many companies in the United States will have to report information about their beneficial owners, i.e., the individuals who ultimately own or control the company. Business owners will have to report the information to the Financial Crimes Enforcement Network (FinCEN), which is a bureau of the U.S. Department of the Treasury.
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As a courtesy to our business members, PDF copies of the FAQ and Small Entity Compliance Guide in both English and Spanish are available for download below.
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Click to download the Small Entity Compliance Guide (English)
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Click to download the Small Entity Compliance Guide (Spanish)
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For additional information and instructions on how to report can be found on the FinCEN website.