Business Accounts

You must schedule an appointment to open a business account.

Appointments are only available Monday - Friday.

BAFCU Business Account Advantages Include:

Minimum share account balance of $25.00
No minimum balance checking account
Free online bill pay service
Mobile app with mobile check deposit and spend tracking tools
Optional BAFCU overdraft advance protection – $300 limit
Member business debit cards with instant issue
Member business credit cards with no balance transfer fees
Low monthly maintenance fee of $25

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.

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.