Business Certificate Accounts

Certificates earn more than most savings accounts and are less risky than investing in the stock market.

Over the past 18 years, we’ve given our members more than $104 million in interest refunds and bonus dividends.

Terms for our Business Certificate accounts are 12, 24 and 60 months, so you can choose the account that best suits your plans.

A sole proprietorship is a business owned by an individual. This type of ownership is the simplest and most basic type of business structure. A sole proprietor has total control, receives all profits from, and is responsible for the taxes and liabilities of the business.

• Valid Social Security Number (All Signers)
• Unexpired Government Issued ID (All Signers)
• Business License and/or Business Card (If Applicable)

A limited liability company consists of one or more “members” or “managers,” which may be individuals, partnerships, limited partnerships, trusts, estates, associations, corporations, other limited liability companies or business entities.

• Valid Social Security Number (All Signers)
• Unexpired Government Issued ID (All Signers)
• Valid Tax ID or EIN
• Articles of Organization (LLC-1)
• Completed Beneficial Owner Form
• Copy of the Operating Agreement (Required for all limited liability companies with more than one (1) member)
• Filed fictitious business name statement/DBA (Required only if the business entity does not include the surname of the owner or if the name suggests additional owners)

An unincorporated association is an organization that has not been given a corporate legal form but is recognized by the law as having a status and an existence. This type of account is often requested for recreational clubs, social clubs, and non-profit organizations. (Examples: Knights of Columbus, Girl Scouts or Rotary Clubs).

• Valid Social Security Number (All Signers)
• Unexpired Government Issued ID (All Signers)
• Valid Tax ID or EIN
• Certified copy of a resolution or minutes authorizing the account opening
• Letter signed by the governing body of the legal entity authorizing designated individuals to open the account and act on its behalf

In a general partnership, each partner shares in the profits, losses and management of the business. Each partner can, by its acts or conduct, bind the partnership, and each is personally liable for the debts and obligations of the partnership, so that its individual assets can be subject to execution to satisfy partnership debts when partnership assets are insufficient to pay those obligations.

• Valid Social Security Number (All Signers)
• Unexpired Government Issued ID (All Signers)
• Valid Tax ID or EIN
• Signed copy of the partnership agreement identifying the partners and their authority
• Completed Beneficial Owner Form

A corporation and an incorporated association are legal forms of business organization where an individual or group of individuals (known as shareholders or stockholders) acts as a distinct legal entity.

• Valid Social Security Number (All Signers)
• Unexpired Government Issued ID (All Signers)
• Valid Tax ID or EIN
• Articles of Incorporation/Charter (For profit charter SS-4417. For non-profit charter SS-4418)
• Copy of Corporate Minutes
• Bylaws
• Completed Beneficial Owner Form
• Filed fictitious business name statement/DBA (Required only if the corporation does business in a name other than its corporate name)
• Corporate Resolution (Only if not all named officers are signers, if signers include persons not named as officers or if Corporate Minutes reflect multiple signatures required) (Ascend will not open account if dual signatures are required.)

An informal organization or club is a group formed for unofficial purposes. While not actually a business, these accounts are held by a non-natural person and the credit union will take steps to satisfy that the organization is a bona fide entity. (Examples: ABC Activities Committee, ABC Ski Club, ABC Employee Birthday Fund).

• Valid Social Security Number (All Signers)
• Unexpired Government Issued ID (All Signers)
• Valid Tax ID or EIN
• Letter on company letterhead explains the purpose of the club (if available)
• Minutes (if applicable)