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Business Account Type Requirements
Our Commercial Services Division has your business covered with the accounts you need, quick & flexible loans, and expert advice drawn from hands-on experience.
Here's what we'll need from you to get you started:
|Entity Type||Account Title||Free Account Type||Tax ID Number||Required Documents|
|Corporation||Name of Corporation - must include at least one of the following: Incorporated, Corporation, Limited, Inc., Corp., or Ltd.||Corporation (R )||EIN of Corporation||
|Limited Liability Company||Name of Limited Liability Company must include Registered Limited Liability Partnership, Limited Company, LLC, or LC||Limited Liability Company (L)||EIN of Limited Liability Company||
|Sole Proprietorship||Name of Sole Proprietor DBA Name of Business (Sam Cook DBA Cook Moving Company)||Sole Proprietor (S)||SSN of Owner OR EIN of Business||
|General Partnership||Name of Partnership||Partnership (Q)||EIN of Partnership||
|Limited Partnership||Name of Limited Partnership must include Limited Partnership||Partnership (Q)||EIN of Partnership||
|Limited Liability Partnership||Name of Limited Liability Partnership must include Registered Limited Liability Partnership, Limited Liability Partnership, or LLP||Partnership (Q)||EIN of Partnership||
|Association||Name of Association||Organization (O)||EIN of Organization||
|Nonprofit/Charity||Name of Nonprofit/Charity||Organization (O)||EIN of Organization||
|Political Non-Government Organization (NGO)||Name of NGO||Organization (O)||EIN of Organization||
|Organization||Name of Organization||Organization (O)||EIN of Organization||
|Business Trust||Name of Trust||Trust (T)||EIN of Trust||Trust Instrument|
^If Corporate Resolution is not available, the Credit Union's Authorization Designation Form may be used instead.
^^An operating agreement is NOT required if the business itself was formed in Massachusetts. Other states may also require an operating agreement.
*Some businesses require licenses to perform their service, such as Accountants, Contractors, Hair Stylists, and Physical Therapists. Some businesses that do not require licenses are bakeries, clothing stores, and private music lessons.
**If sole proprietors can choose to use their SSN, an IRS letter confirming EIN is not required.
^^^If the member's name or legal last name is not in the title of the business, they will need the Business Certificate.