Business Checking

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Business Checking

Business Checking
and Savings. For members who operate their own businesses.

Business Checking

  • Separate business shares savings required
  • No balance requirements
  • No monthly service fees
  • No per-check or per-deposit fees
  • No limit on writing checks
  • Free online access

Business Savings

  • $100 minimum balance to avoid a quarterly service fee
  • Competitive interest paid

Membership Requirements

  • Personal Savings Account
  • Taxpayer ID Number of the business - SS4 Form issued by IRS
  • Copy of the Certificate of Incorporation, By-Law Papers, LLC certificate, or DBA certificate
  • Minimum deposit of $100 in Business Savings Account

VISA Merchant

Participating organizations and ActorsFCU members who operate a business can apply for our Merchant Program, making it possible to accept VISA cards as payment for dues or purchases. Call our partner, Intuit, Inc., makers of Quickbooks, to set up your account today:  800.650.1119.

A few of the benefits:

  • No set-up fee
  • No long-term contract
  • First two months free

Retirement Plans for Businesses

“It’s about fiduciary responsibility: you need the right plan, the right cost, and someone you can trust to get your members or employees the very best.”

– Gary Ginsberg, Financial Consultant

Member organizations that would like to offer their members or employees the benefit of an employer-sponsored retirement program, such as a 401k, can obtain this service from ActorsFCU through Royal Alliance Associates, Inc., member FINRA / SIPC.

Gary Ginsberg, as an independent broker, has the ability to find the right pension provider to best suit your needs and those of your members or employees. He can be reached at 212.869.8926, ext. 318, for more information or to set up a plan.

How to Open a Business Account

  • STEP ONE: complete our fillable PDF application by selecting “Apply for Membership”
    • Enter your name and existing personal membership information under “Membership Eligibility”
    • If you want to add a checking account, check the box for "Draft (business checking)"
    • If you want a free VISA debit card, check the box for "VISA Check Card"
    • If you want to receive statements and other notices electronically, check the box for "eDocuments"
    • If you want the ability to deposit checks using your smartphone, check the box for "App Deposit"
    • Be sure to complete all relevant fields on the application and ownership certification form.
  • STEP TWO: Print your completed application & sign on the bottom of pages 1 and 6.  
    • NOTE: We do not accept eSignatures on any new membership applications.
       
  • STEP THREE: Submit your completed application and required documents via Secure Email*
    • Please CLICK HERE to email us at invite@actorsfcu.com to request a secure file transfer.
    • We will email you back within 1 to 3 business days with an encrypted email.
    • Once you receive our encrypted email, simply reply with the following attachments:
      • Completed application and ownership certification with wet signature(s)
      • Copy of Valid Government-issued photo ID(s) for all account signers
      • Legal documents evidencing business registration with the state (Articles of Incorporation, Certificate of Formation, partnership/DBA certificate, etc.)
      • EIN Assignment Letter (IRS Form SS-4)
      • Proof of address (e.g., utility bill or lease agreement) if the address on your photo ID or corporate papers does not match the address listed on your membership application
  • STEP FOUR: Once we have received the completed application and all supporting documents, the package will be assigned to a new account representative.  You will receive an email with the name and email address of the assigned representative. Please note that incomplete packages will delay the processing time.

  • STEP FIVE: Fund your new account. Your new business savings account requires a minimum deposit of $100 to satisfy our minimum balance requirements.

*If you do not have the ability to submit your application via Secure Email, we can also accept your application and documents via USPS mail or fax. Applications should be submitted to the ActorsFCU Branch that is nearest to your home address. Applications that are submitted via mail or fax may require additional time for processing. For fax numbers and branch locations, click here.

Amount APY APR
$100-$499.99 0.01% 0.01%
$500-$1,499.99 0.01% 0.01%
$1,500-$2,999.99 0.01% 0.01%
$3,000 and up 0.01% 0.01%

 

Rates apply to Business Savings Account.
APR = Annual Percentage Rate; APY = Annual Percentage Yield

Rates and terms subject to change without notice. As of 07/24/2024