Business FAQs

Busniess acct image for FAQ

What are the monthly fees?

There are no monthly maintenance fees for your business account. None. Nada.

What is minimum balance I have to carry?

There is no minimum balance requirement for checking or savings accounts.  The $5 membership share stays reserved in the savings account, but there is no other balance requirement.

Can I get checks?

Yes! Checks are available for business accounts. We have a wide variety of products to choose from, including computer checks, top- and end-stub checks, and deposit tickets.

Can I have a debit card?

If your business is registered under a EIN or TIN, you can have a debit card for your account. If, however, your business is registered under your social security number we cannot issue a debit card for that account.

Do you offer online services?

We do! We offer a full range of online services from Bill Pay to online account transfers to online loan applications.

Can I pay a loan payment for a loan I have with another bank?

Yes. With online Bill Pay, it’s easy. You just need the account number and contact information for the other financial institution. You can set up one-time payments or recurring payments and you can make changes at any time.

What about payroll for my employees?

Currently, if all your employees have a WCCU account, we can provide payroll direct deposit services. We are investigating expanded options for payroll, so stay tuned for updates.

What kind of overdraft protection is offered?

We offer overdraft protection in the form of a share transfer. If a payment comes through and the checking funds are insufficient to cover it, we will automatically transfer the required amount to the checking from the savings. There is a $5 transfer fee each time this occurs.

We also offer a Line of Credit loan that can be used as overdraft protection. This loan is attached to your checking/share (savings) account and is activated when used for overdraft protection or for a revolving line of credit.

  • Funds will be automatically disbursed from the Line of Credit loan to cover an overdraft
  • NO return check fees to pay
  • Overdraft advances given in increments of $100.00

Commercial Lending

What kind of commercial real estate loan do you offer?

Our commercial real estate loans are written as adjustable-rate loans. No more worrying about the refinancing risk that comes with balloon loans. We want you to succeed!

What documents do I need to apply for a business loan?

Here’s a basic checklist:

  • Driver’s license/State ID and Social Security card
  • Two years of your Federal tax returns and two years of your business’s Federal tax returns. (If your business is less than two years old, we’ll accept a year-to-date Profit and Loss statement.)
  • If your business is a Corporation, please bring your Corporate Resolution documents.
  • Other business documents: DBA, Articles of Incorporation, or Articles of Organization (for organizations and corporations)
  • Executed Purchase Agreement (if applicable)
  • Dealer Write-up (if applicable)

The following documents need to be completed as well; get copies from your accountant or let your WCCU Personal Banker help you complete them during your appointment:

  • Personal Financial Statement
  • Balance SheetTools
  • Income Statement
  • Statement of Cash Flows

Can I pay off my loan early?

You can, and there’s no penalty for it, either. You read that correctly: No prepayment penalty.

Other questions

Call Melissa at 231.775.2081 x310 to get more information and to set up your appointment today.