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At CCU, we are dedicated to serving our member’s needs. Whether you are a start-up company or a multi-million dollar corporation, we have a business account tailored to fit your needs. Find out more about our competitive and easily manageable accounts below.
Must be doing business in Illinois or Wisconsin and accounts must be opened in person at one of our many branches.
Business accounts can only be opened if at least one of the owners/signers is a current CCU member.
Freedom Business Checking
Enjoy the freedom of stress free checking. Freedom Business Checking was designed for businesses that have lower account activity. 100 free transactions* and no minimum balance requirements.
Power Business Checking
Experience the strength of the Power Business Checking account, which was created for businesses that have more advanced needs and higher activity levels. Revel in 500 free transactions* while maintaining a $5,000 average daily balance, and avoid paying the $20 monthly maintenance fee. Plus, we pay you dividends!
Choice Commercial Checking
If your company has higher volumes and uses a variety of treasury management services, say yes to Choice Commercial Checking. Aimed to help you run your business more efficiently and keep up with its high demands, this account helps offset fees with an earning credit each month.
Community Checking – (Not for Profit & Nonprofits)
We understand that Not for Profit, Nonprofits, and Government Entities have distinct needs, which is why our Community Checking members enjoy 300 transactions* a month for free, no minimum balance requirements and earn dividends on balances over $500. This allows you to keep your attention on what matters, our communities.
| Features | Freedom Business Checking | Power Business Checking | Community Checking | Fee/Detail | Choice Commercial Checking |
|---|---|---|---|---|---|
| Minimum Average Collected Balance to avoid monthly maintenance fee | $0 | $5,000 | $0 | Earning Credit based, consult Member Business Services. | |
| Transactions allowed with no charge | 100 | 500 | 300 | $0.25 per item in excess | |
| Monthly Maintenance Fee | $0 | $20 | $0 | Waived if maintains average daily balance requirement | |
| Business Online Banking | ✔ | ✔ | ✔ | Two users for free; $5 each month per user thereafter | |
| Business Bill pay | ✔ | ✔ | ✔ | 40 free; $0.50 thereafter | |
| Electronic Statements | ✔ | ✔ | ✔ | No charge | |
| Paper Statements | ✔ | ✔ | ✔ | $5/month /account |
Business Savings
CCU means business with all of the opportunities we offer to company leaders. Business Membership Savings is the entry-level, short-term savings account that allows you access to all of the high-end banking features to help grow your business.
- $5 membership fee to open
- No minimum balance required if you have a business checking account
- Earn dividends on balances exceeding $5
Business Money Market
In this account, your money will work hard for you but will never be far from reach. You'll have instant access to liquid capital through personalized checks! Some limitations do apply – please ask a representative for more details.
- Open your account with as little as $5
- Earn dividends on balances exceeding $500
- Earn up to 4.13% APY!*
*APY=Annual Percentage Yield. Fees may reduce earnings.This is a tiered earnings account, with at least a $500,000 balance needed for this rate. Rate may change after the account is opened. Other rates available.
What Information Will I Need to Open a Business Account?
Must be doing business in Illinois or Wisconsin and accounts must be opened in person at one of our many service centers.
- Sole Proprietor – You will need an Assumed Name Certificate, IRS Tax ID Letter or the first page of last year’s tax return, and Valid Picture ID's and SSN's for all account signers.
- Limited Liability Corporation (LLC) – You will need an Operating Agreement, Articles of Organization, IRS Tax ID Letter or the first page of last year’s tax return, and Valid Picture ID's and SSN's for all account signers. Additionally, an Assumed Name Certificate is required if you are doing business under a name different from the legal business name.
- Corporation – You will need Articles of Incorporation, Bylaws, IRS Tax ID Letter or the first page of last year’s tax return, and Valid Picture ID's and SSN's for all account signers. Additionally, an Assumed Name Certificate is required if you are doing business under a name different form the legal business name.
- Non-Profit Organizations - You will need Articles of Organization, Bylaws, IRS Tax ID Letter or the first page of last year’s tax return, and Valid Picture ID's and SSN's for all account signers.
- Not for Profit Organization or Association – Proof of Organization or meeting minutes indicating who the signers can be, Tax ID, and Valid Picture ID's and SSN's for all account signers is required.
- Partnership – The Certificate of Limited Partnership and Partnership Agreement explaining who the partners are, and indicating which partners are authorized to sign, is required. You will also need to provide an IRS Tax ID Letter or the first page of last year’s tax return, and Valid Picture ID's and SSN's for all account signers. Additionally, an Assumed Name Certificate is required if you are doing business under a name different from the legal business name.
CCU does not offer accounts for political services or campaigns, cannabis related businesses or money service businesses.