BUSINESS LOANS

Business Account Required Documents

• The items listed below are documents and requirements of all Business Account types
• Please note that Business Services does have the right to ask for additional information if needed
• Sole Owner LLCs and Sole Proprietors are allowed to utilize their Social Security number in lieu of a Tax ID Number. Please note that if the member does receive a TAX ID number in time from the IRS, it will need to be provided to the Credit Union
• DBAs/
  Fictitious/Trade Names will need the following to proceed:
  • Trade Name/Fictitious Name Certificate (Document from SOS)
  • Current SOS reflecting it as “current.”
  • Fictitious Name Statement (Document of submission to the state)
• Member is required to provide the NAICS code for their business

Association

• IRS Tax Letter disclosing the TAX ID Number
• Copy of Charter or By-Laws
• Articles of Organization
• Specific Letter of Request to state who will be listed on the account and signed by the governing officers of the business. This will need to be an official letter on letterhead
  • Clearly stating who the authorized signers are
  • Where are the funds coming from?
  • What is the money being used for?
• Minutes from the most recent meetings to identify officers, titles and nature of the business signed by the secretary of the Organization

Non-Profit Corporation

• IRS Tax Letter disclosing the TAX ID Number as well as the determination letter for any that are 501(C)
• Copy of Charter or By-Laws
• Articles of Incorporation
• Specific Letter of Request to state who will be on the account and signed by governing officers of the business. This will need to be an official letter on letterhead
  • • Clearly stating who the authorized signers are
    • Where are the funds coming from?
    • What is the money being used for?
• Minutes from most recent meetings to identify officers, titles and nature of the business signed by the secretary of Non-Profit Corporation
• Certificate of Good Standing – This will need to be up to date, with all active signers

Corporation or S Corporation

• IRS Tax Letter disclosing the TAX ID Number
• Corporate Resolution signed by all owners. It must clearly state their ownership percentage and position. This will need to be signed by those individuals
• Minutes from the most recent meeting to identify officers, titles and nature of the business signed by secretary
• Certificate of Good Standing: This will need to be up to date and current with the owners of the institution
• Articles of Incorporation – Also known as Certificate of Formation

LLC

• IRS Tax Letter disclosing the TAX ID Number
• Certificate of Good Standing: This will need to be up to date and current with the owners of this institution
• LLC Operating Agreement
  • The purpose of the Operating Agreement is to advise the credit union of who within the business has the authority to open depository accounts
  • It also needs to clearly disclose the owners of the business, and their percentage of ownership
  • This will need to be signed by all owners/authorized signers going on the account
• Articles of Organization – Also known as Certificate of Formation

Partnership

Partnership/Limited Partnership/Limited Liability Partnership/Limited Liability Limited Partnership

• • • IRS Tax Letter disclosing the TAX ID Number
    • Certificate of Good Standing: This will need to be up to date and current with the owners of this institution
    • Partnership Agreement
      • This will need to clearly disclose who is listed as owners, and their percentage of partnership
      • The type of partnership
      • The partnership will need to be signed by everyone involved in the partnership
• Articles of Organization – Also known as Certificate of Formation

Sole Proprietor

• Occupational Tax License/Privilege Tax License
• IRS Tax Letter disclosing the TAX ID Number

The business owner does not need to be a member in order for the business to open an account at Keesler Federal; however, each of the business owners need to be within our field of membership. We believe that most business owners will open their personal accounts at the credit union once they see the value of the products and the services that we offer.

Business services may be extended to members who are within our field of membership and in any area where we have a branch location.

We do not offer business services in the U.K.