Give your business the service it deserves. Open a business account at Educational Credit Union and receive ownership not only of your business, but the credit union as well. Ownership has its privileges - preferred loan rates, member discounts, complete business banking services, high rates on investments and exceptional customer service.
Or, thinking about starting a new business? Take a look at our helpful information at the bottom of the page to help you get started.
Business checking account options
All business checking accounts include:
- Free Visa business check card
- Free online banking with BillPay
- Monthly interest**
- Five (5) FREE change orders per month***
Principal Checking
ECU believes your business checking account should be easy and made with your business in mind. Our principal checking account gives you what you need, as well as a nice monthly interest rate.
100 FREE itemized transactions*
Minimum average balance of $300.00**
Superintendent Checking
Receive more with this business checking account. By holding a larger monthly balance, your funds will earn a higher interest rate and you will receive additional free itemized transactions.
200 FREE itemized transactions*
Minimum average balance of $1,000.00**
* Per item charge on debit and credit transactions. Principal checking receives 100 and superintendent checking receives 200 free itemized transactions per month cycle. There is a charge of $0.10 per item thereafter.
** If average balance is maintained service charge is waived. Service charge for principal checking is $5.00 per month when minimum average balance is below $300.00, and superintendent checking is $10.00 per month when minimum average balance is below $1,000.00.
*** Rolls and Straps, $0.10 per
Business investment options
Business Share Account
Our business share account allows your business to earn interest.
Business Money Market Accounts
Investing into ECU's business money market account is a smart move if you are looking to earn a higher interest rate. This tiered account offers earning potential to businesses that maintain balances of $1,000.00 or more.
Tier levels are as follows:
$1,000.00 - $9,999.99
$10,000.00 - $24,999.99
$25,000.00 - $49,999.99
$50,000.00 - $99,999.99
$100,000.00 or greater
Click here to view business money market rates
Business lending
Lending for Equipment
Being able to purchase new company assets or improving old ones can set you apart from the competition. Term loans will afford you the luxury of making:
- Purchases of machinery, equipment, furniture, fixtures and leasehold improvements
- Additions to long term working capital
- Expansions or modernization of facilities
- Vehicle or other business transportation
Line of Credit
With a line of credit you may borrow up to a set amount and pay it down repeatedly. With a business line of credit you may:
- Cover short-term cash needs
- Take advantage of supplier discounts
- Use for inventory, materials or seasonal working capital
Commercial Real Estate
When it comes to commercial real estate, ECU has the ability to offer you incredibly competitive financing. This may include:
- Commercial property, both owner and non-owner occupied
- Rental housing
- Combination business/residential properties
Business VISA Credit Card
With a business Visa credit card from ECU you will be able to work more efficiently. Business Visa credit card benefits include:
- Increase capital instantly with no annual fees and a competitive APR
- Manage and control expenses with individual credit lines for employees that let you predetermine how much money is spent
- Enjoy tax benefits and simplify tax preparation
- Improve cash flow with payment flexibility
Business services
Merchant Card Service
Educational Credit Union offers efficient and cost-effective solutions for accepting card payments. Accepting Visa and MasterCard payments allows your business to offer additional payment options, making it easier to sell services or products. A merchant account will provide:
- Convenience
- Reduced receivables
- Fast availability of funds
- Easy reconciliation
Online Banking & ACH Origination
Utilizing Educational Credit Union's online banking, you have the ability to send and receive payments (such as payroll) electronically through a secure automated clearinghouse.
Online Banking Benefits:
- Checking and saving account details
- Loan balances and details
- Credit card and credit line transactions
- Transfers and payments
- Stop payments
- Direct deposit and payroll
- Bill payments
- E*Statements
Helpful business documents
Business Plan Questionnaire
Make sure that you have thought of everything. This questionnaire asks the important questions needed before launching your business venture. Click here
Business Application
In order to have an ECU business account you will first need to fill out this application and mail or fax back the information. Click here
Business Loan Checklist
In order to receive a commercial loan, you will need to make sure you have all the appropriate documentation. To help you with this we have put together a checklist. Click here
Business Loan Application
Needing extra funds to purchase machinery, furniture, real estate expenses, or to cover short-term cash needs? Whatever the case may be start by filling out this application and fax or mail the information to the address below. Click here
Individual Financial Statement
A business's financial statement is needed in addition to a business loan application. It is also usefull in order to have a better understanding of how your business is performing. Click here
Mail all applications to 2808 SW Arrowhead Rd., Topeka, KS 66614, or fax to 785.271.6868; Attn. Jennifer Kirmse.
Helpful business seminars & resources
|
The Washburn University Small Business Development Center (SBDC) helps northeast Kansas entrepreneurs start and grow their businesses by providing professional consulting services, training seminars, and access to helpful small business resources.
For a listing of upcoming seminars, additional helpful links and resources, personal consulting, and other information please go to www.washburn.edu/sbdc or email ksbdc@washburn.edu. |
|
|
