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Open a Business Account

Begin the process by collecting the proper documents.

North Carolina clubs and charities also qualify for business checking and savings accounts

Here’s how businesses and other organizations can open Coastal accounts:

  • A business owner must be a Coastal Credit Union member in order to open a Small Business Checking Account.
  • A business or organization must have a Business Savings Account, with a minimum $100 initial deposit, to open a checking account.
  • All businesses or organizations seeking to open accounts must provide a copy of the letter assigning their Federal Employer Identification (EIN) numbers.
  • Other required documentation varies by type of business or organization (see table below).

Congratulations on taking a big step forward in running a successful business or organization.

Yes, there are a few additional steps to take when opening business checking and savings accounts with Coastal. Honestly, the documents we request are for your protection as well as ours. After all, you don’t want people who aren’t authorized to handle your money get access to your account.

Not only can you rest assured that your finances are in good hands, your business accounts will enjoy the same benefits as our personal checking and savings accounts, with easy access to funds and high dividend rates on savings. At Coastal, we put people first – including the people who run businesses and organizations.

Documentation Needed for Business Account

If you are conducting business as a: Please provide the following:

Recreation/
Club/
Association/
Religion/
Charitable/
Educational/
Tax Exempt Organization

  • A copy of your IRS Federal Employer Identification Number (EIN) assignment letter
  • A copy of your Registered Assumed Name Certificate filed with the County Clerk
  • Recent meeting minutes reflecting approval for the account to be opened and assigning transactional authority.

C or S Corporation

  • A copy of your IRS Federal Employer Identification Number (EIN) assignment letter
  • A copy of your Registered Articles of Incorporation
  • Authorization Designation Form

General Partnership

  • A copy of your IRS Federal Employer Identification Number (EIN) assignment letter
  • A copy of your Registered Assumed Name Certificate filed with the County Clerk
  • A copy of your Partnership Agreement indicating position responsible for business account.

Limited Partnership/
Limited Liability Partnership

  • A copy of your IRS Federal Employer Identification Number (EIN) assignment letter
  • Limited Partnership Agreement or Registered Assumed Name Certificate.

Limited Liability Company (LLC)

  • A copy of your IRS Federal Employer Identification Number (EIN) assignment letter
  • A copy of your Registered Articles of Organization
  • Authorization Designation Form

Sole Proprietorship

  • A copy of your Social Security Card and/or Employer Identification Number (EIN) assignment letter
  • A copy of your Registered Assumed Name Certificate filed with the County Clerk
50 Years
50 Years
Catch up on 50 years of success stories.

It's great to be with a financial institution that rewards its members!
David M.

Frequently Asked Questions

As long as you have an established business account, you can apply for a loan in your business name.

You can open a small business account at any branch location. Depending on the type of business, a few additional documents will be needed to open the account.

To sign up for Digital Banking, you must accept the terms of the Digital Banking Services Agreement and Disclosure. Click on the link to Register a Business or Trust Account. Fill in the blanks for Account Number, Business or Trust Name, SSN/TIN, and Zip Code exactly the way the business or Trust is named. Press submit when complete. You will then be prompted to create a User ID and Password. Then, follow the steps when prompted.

Need help with Open a Business Account?

Call 800-868-4262 to speak with a representative