What do I need to open a business account?
Different organizations require different documentation. To see what you'll need, simply click on your business type below. If you'd like to review these documents and materials prior to submitting an application, please email BusinessServices@visionsfcu.org.
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Sole Proprietorships
- No formal documentation for business. Proprietor may use their SSN as the business TIN
- Proof of business address, valid identification and SSN for all beneficial owners and authorized signers
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DBAs ("Doing Business As")
- DBA Certificate – Original Certificate with County Clerk stamp (may also be called: fictitious name, assumed name, alternate name, or trade name certificate)
- IRS Tax ID number (IRS letter stating TIN is preferred)
- Proof of business address, valid identification and SSN for all beneficial owners and authorized signers
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Partnerships
- Certificate of Registration with State Filing Receipt or Certificate of Assumed Name for Partnership
- Partnership agreement
- IRS Tax ID number (document stating TIN is preferred)
- Proof of business address, valid identification and SSN for all beneficial owners and authorized signers
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LLCs – Limited Liability Companies
- Documentation varies by state:
— NY: Articles of Organization with State Filing Receipt
— NJ: Certificate of Formation with State Filing Receipt
— PA: Certificate of Organization with State Filing Receipt - Signed operating agreement
- IRS Tax ID number (document stating TIN is preferred)
- Proof of business address, valid identification and SSN for all beneficial owners and authorized signers
- Documentation varies by state:
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Corporations
- Certificate of Incorporation with State Filing Receipt
- Corporate bylaws (should include breakdown of beneficial owners)
- IRS Tax ID number (document stating TIN is preferred)
- Proof of business address, valid identification and SSN for all beneficial owners and authorized signers
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Organizations (Associations/Clubs/Nonprofits)
- IRS Tax ID number (document stating TIN is preferred)
- Proof of organization address, valid identification and SSN for any beneficial owners and authorized signers
- Signed letter from organization or Meeting Minutes listing:
— Names of current officers/directors
— Names of anyone who will be a signer on the account - If organization is incorporated, we will also need:
— Certificate of Incorporation with State Filing Receipt
— Corporate bylaws
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Out of State Provisions
If there are circumstances where the business or organization provides out of state documents (i.e.: any state outside of New Jersey, New York, or Pennsylvania), these will need to be reviewed on a case-by-case basis by a representative from our Business Services team.
Email: BusinessServices@visionsfcu.org
Organizations and/or owners must be eligible for membership. Visions membership requires $1 minimum deposit. Certain membership eligibility restrictions apply; ask for details. Visions Federal Credit Union cannot open accounts for local governments or businesses/organizations that deposit public and/or municipal funds.
Business Loans
How do I apply for a business loan?
Applying for a business loan is easy! When you apply for a business loan, you will work directly with one of our experienced Member Business Loan Officers to discuss your loan needs.
Click here for details and to start your application today.
Financial and supplemental information requirements may include:
- Three years financial statements, including income statements and balance sheets – either accountant prepared or tax returns
- Interim financial statements, balance sheet, and income statement dated within 90 days of application
- Three years of personal tax returns on all principals and guarantors
- Current personal financial statement on all principals and guarantors
Need help growing your business? Check out the SBA
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States.
Visions Federal Credit Union cannot open accounts for local governments or businesses/organizations that deposit public and/or municipal funds.
Organizations and/or owners must be eligible for membership. Check your eligibility at visionsfcu.org/join.
