Business owners can conveniently apply for an account online. The application is easy and takes approximately 20 minutes.

Once we receive your application, we’ll email you additional information to finalize your new account. A Member Relationship Specialist will follow up to review your account options with you and take time to understand your business needs. 

To expedite your application, please be prepared to provide information for the Controlling Individuals, Beneficial Owners, and Authorized Signers, if needed as defined below:

  • An Authorized Signer can perform transactions on the business account including deposits and withdrawals, both in person and online/electronically.
  • A Beneficial Owner is anyone who owns 25% or more of the business. A Beneficial Owner often benefits from the transactions on a given account and may not be primarily responsible for the ongoing management of an account but could have some oversight.
  • A Controlling Individual/Owner is anyone whose responsibility is to control, open and/or manage an account on behalf of the legally defined business—typically, a CEO, COO, or CFO. Unlike the Beneficial Owner, a Controlling Individual/Owner will be involved in the ongoing management of an account, including input or decisioning on who has access.

Federal law requires us to obtain this information from applicants applying for a business account:

We do not require this information for roles that don’t apply to your business. For example, if ownership of your business is distributed so no one person has 25% or more, there are no Beneficial Owners. Or, if you are a sole proprietor who is both the CEO and Authorized Signer, we will require your information as it applies to both roles.

If you have questions, please call us at 1 (800) 479-7928 – we’re happy to help!