Business Savings
- No monthly fee
- This account establishes your Business Membership
- Overdraft protection on your business checking account
- User-friendly Online Banking and Mobile Banking app
| Savings | 0.50% APR* |
0.50% APY** |
Features You'll Appreciate
For many small businesses, a critical step is opening a business checking and savings account. Think of these accounts as essential tools to help your small business grow and thrive.
Federally Insured Funds
Rest easy knowing your money is protected. The funds in your Members Choice deposit accounts are federally insured up to $250,000 by the NCUA.
Mobile Deposit
Deposit checks anytime, from anywhere with the Members Choice Mobile Banking app.
E-Statements
Make the intelligent switch from paper statements to e-Statements. Conveniently archived, environmentally friendly, and receive them promptly at the first of every month!
How to Open Your Members Choice Business Savings Account
Take care of business your way, every day! Apply in person at any location or call (606) 329-7876 to set up an appointment.
1 Gather personal info, including government-issued ID and Social Security number, for every signer on the account
2 Provide the required documents needed for your type of business
3 Complete membership application in person at any Members Choice location
4 Once your application is approved, fund your account by setting up online transfers via Members Choice Mobile or Online Banking
New Business Account Documentation Requirements
Business must be organized and in the state of Kentucky. Picture ID of all authorized signers required.
-
Sole Proprietorship
(Provide one or more of the following documents)
- State of Kentucky Certificate
- Business License
- Vendors or Contractor’s License
- Business Tax Certificate
- City Tax Certificate
- Documentation of the Kentucky Sales Tax Number for the Business
-
Not-for-Profit/Association/Church
(Provide all the following documents)
- Bylaws, Charter, Constitutions or similar documents outlining the purpose of the organization
- Resolution from Board specifying which officers are authorized to sign for the organization/association
- TIN/EIN issued by IRS
-
LLC
(Provide all the following documents)
- Articles of Organization
- Operating Agreement
- TIN/EIN issued by IRS
-
Corporation
(Provide all the following documents)
- Articles of Incorporation
- Resolution from Board specifying which officers are authorized to sign for the corporation
- TIN/EIN issued by IRS
-
Partnership
(Provide all the following documents)
- Assumed Name Certificate issued by the Kentucky Secretary of State
- Written Partnership Agreement
- TIN/EIN issued by IRS
Building Blocks for Your Business
A critical step for many businesses is a business checking and savings account. Think of these accounts as essential tools to help your small business grow and thrive.
Business Perks for Your Employees
Coach: Setting Up Your Business
*Rates are determined based on applicable credit review. Rates, fees, and terms are subject to change. Members Choice reserves the right to change account terms (including APRs) in accordance with your Business Card Agreement.