Business Accounts

Business Account Basics

Savings Account

The share savings account at MC Federal is the key to becoming a member. The share account represents a member’s ownership in MC Federal Credit Union. The savings requires a $5.00 minimum deposit upon opening and is required to maintain membership status. It is the first and most convenient way to start saving.

Business Basic Checking

A simple account so that you can run your business without worrying about cash flow needs.

  • 250 FREE transactions per month*
  • No monthly service charges or minimum balance
  • Free Online/Mobile banking & BillPay
  • Direct Deposit
  • Earns dividends that are posted quarterly

Required Identification to Open Your Business Account

  • Photo Identification - Examples include a Driver’s License, State/Government ID, or Passport. This is required for each owner and/or authorized signer that will be on the account.
  • Secondary Form of Identification - Examples include a credit card, medical insurance card, or vehicle registration.
  • Social Security Number
  • Proof of Physical Address, if your address is not current on your Photo ID - Examples include a utility bill, copy of payroll check, credit card bill, etc.

Additional Account Opening Documentation

  1. Proof of EIN – IRS SS-4 (if applicable)
  2. Certification of Assumed Name aka Fictitious Name Certificate (if applicable)
  1. Proof of EIN – IRS SS-4
  2. Certificate of Organization – State Filing
  3. Operating Agreement (if applicable)
  1. Proof of EIN – IRS SS-4
  2. Partnership Agreement (required for Limited only)
  1. Proof of EIN – IRS SS-4
  2. Articles of Incorporation – State Filing
  3. Bylaws (if applicable)
  1. Proof of EIN – IRS SS-4
  2. Meeting Minutes detailing account opening at MC Federal Credit Union
  3. Letter from Secretary listing Authorized Signers

*Subject to change. Review MC Federal Credit Union Fee Schedule for current pricing information.