Business Share Certificates

• Set aside for future savings goals
• Competitive, fixed rate for length of term
• A wide range of terms available (from 3 months to 5 years)
• Receive higher rates by selecting a longer term
• No setup or maintenance fees
• Flexible options at maturity
• Can ladder share certificates to increase liquidity
• Early withdrawals subject to penalty
• $500 minimum deposit to open
• Federally insured by NCUA up to $250,000

Dividends

Dividend earnings may be reinvested into the share certificate to enhance your total earnings. Or you may choose to have dividends deposited into a savings account or mailed directly to you.

Maturity

Unless specific arrangements are made with a member service representative, certificates will automatically renew at maturity. A statement will be sent out approximately 14 days prior to maturity and there will be a 7-day grace period. This provides convenience for members, and permits members nearly 30 days to change the terms or conditions of the certificate without penalty.

Laddering

A great way to build liquidity into certificates — and to make the most of rate changes — is to ladder your share certificates.

Laddering simply means dividing your money among several certificates, each with an increasingly longer term, instead of putting all your money into one certificate. This way, part of your investment becomes available periodically rather than locking the entire amount for the longest term.

In addition to making funds available if you need them, this gives the opportunity to take advantage of rates that are increasing since you can reinvest the share certificate that matures at the current rate.

Interested in opening a business account with us? We'll make it easy for you! Check out all of the items you will need to bring with you when you come to open your account.

There is a minimum $25 deposit required when opening a business share certificate.

DBA Sole Proprietorship

• Certified Business Registration Certificate
• Proof of EIN or Social Security Number

Need to register your business in Ingham County? Start here. 

Need to register your business in Jackson County? Start here.

Need to register your business in Washtenaw County? Start here.

Partnership

• Certified Business Registration Certificate
• Partnership Agreement
• Proof of EIN

Need to register your business in Ingham County? Start here.

Need to register your business in Jackson County? Start here.

Need to register your business in Washtenaw County? Start here.

Corporation

• Articles of Incorporation (complete package)
• Proof of EIN
• Officer listing by name and title
• Account opening resolution

State of Michigan Business Registration for LLCs and Corporations

Limited Liability Company (LLC)

• Articles of Organization
• Operating agreement
• Account opening resolution
• Proof of EIN
• Does not apply to sole member LLCs

State of Michigan Business Registration for LLC's and Corporations

Non-Profit Corporation 

• Articles of Incorporation
• Bylaws
• Account opening resolution
• Proof of EIN showing tax exempt
• Officer listing by name and title

State of Michigan Business Registration for LLC's and Corporations

Club Accounts

• Copy of Bylaws
• Meeting minutes or resolution for account opening
• Proof of EIN showing tax exempt status, if applicable
• Officer listing by name and title

Links

• IRS information for Employer ID Numbers (EIN)
• Reorder Checks