Business Savings
A business savings account is the foundation of your relationship with Ascend. This dividend-earning account gives you access to all of Ascend's business services and solutions.
Dividends are earned on your daily balance and paid at the end of each month.
Ascend’s Night Deposit Service provides a secure place for business owners to place deposits after regular financial center hours.
Ascend members can buy tickets for select Live Nation events in the Ascend Amphitheater before they go on sale.
$5 Minimum Opening Deposit
Over the past 18 years, we’ve given our members more than $104 million in interest refunds and bonus dividends.
Manage your accounts from almost anywhere with Ascend’s digital banking services and mobile app.
As a member, you're also an owner, which means you have a say in how Ascend is run.
| Account | APY | Dividend |
|---|---|---|
| Business Savings | 0.20% | 0.20% |
Rates effective December 1, 2022. For more information regarding fees see the Fee Addendum.
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)
Similar to Limited Partnerships as defined above, with the exception that this type of partnership is for businesses that engage in the practice of public accountancy, the practice of law or the practice of architecture, or services related to accountancy or law. A “Limited Liability Partnership” (LLP) is needed to maintain a certain level of insurance as required by law.
- 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
- LLP Registration (Form LLP-1)
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 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
An unincorporated business organization in which two or more individuals are associated as co-owners for the conduct of an ongoing business enterprise and from which the partners share both profits and losses.
- 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
Similar to a general partnership except that the co-owners are associated for a temporary purpose, project or transaction.
- Valid Social Security Number (All Signers)
- Unexpired Government Issued ID (All Signers)
- Valid Tax ID or EIN
- Joint Venture Agreement
A legal form 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.)
Banking—wherever you need it.
Securely manage your account and credit score on Ascend's fast, free and convenient digital banking service, from either your computer or smartphone.
- Are there any fees related to having an Ascend Business Savings account?
The minimum balance to open the account is $5, and the account will earn dividends that will be paid monthly. There is no service charge for this account.
- How long will it take for my Business Savings account to be opened and available for use?
If you provide complete business entity documentation, your Business Savings account will be available for use the same day you open it.
Don't see the question you're looking for?
There are two different ways to contact an Ascend business specialist. Before you begin, please review our list of Required Documentation above and make sure you have the necessary documents on hand.