The items required for opening a membership are based upon the business structure you have selected. Please click on the tab and review the list for your business structure and have these items available to facilitate the membership opening process. All documents are subject to review by a Business Services Specialist prior to acceptance. *Additional documentation may be required in nonstandard situations.
All financial institutions are required to comply with the Customer Due Diligence (CDD) Requirements for Financial Institutions, as issued by the Financial Crimes Enforcement Network (FinCEN). Detailed information for any Beneficial Owner (25% owner) and at least one individual with significant responsibility for managing the legal entity will be required. This requirement primarily applies to Partnerships, Limited Liability Companies, and Corporations. Other business structures may be subject to parts of the CDD Requirements.
Customer Identification Program rules apply to Beneficial Owners, thereby requiring a copy of an unexpired, government-issued ID and a second form of ID, such as SS Card, Military ID, Work ID, etc.
This section applies to non-registered, unincorporated businesses run solely by one individual proprietor with no distinction between the business and the owner. These businesses will have been assigned an Employer Identification Number (EIN). *If you have not been assigned an EIN, your membership will be considered a consumer membership and subject to the consumer membership opening requirements.
Required Documents:
- Verification of your Employer Identification Number (EIN). This is usually verified by an IRS SS4 letter, Letter 147C, or the Federal Tax Return.
- 2 forms of ID for each authorized signer, one of which is a Government Issued Photo I.D. This can be a Driver’s License, Passport, State-issued I.D. Card, Military I.D. Card, or Permanent Resident Card (aka Green Card). The second form of ID may be any of the above listed examples or a Social Security Card.
- Must register with the County Clerk’s Office in the county of residence/operation.
This section applies to General Partnership (GP), Limited Partnership (LP), Limited Liability Partnership (LLP), and Professional Limited Liability Partnership (PLLP) structures.
Required Documents:
- Verification of your Employer Identification Number (EIN). This is usually verified by an IRS SS4 letter, Letter 147C, or the Federal Tax Return.
- 2 forms of ID for each authorized signer, one of which is a Government Issued Photo I.D. This can be a Driver’s License, Passport, State-issued I.D. Card, Military I.D. Card, or Permanent Resident Card (aka Green Card). The second form of ID may be any of the above listed examples or a Social Security Card.
- Partnership Agreement, completed and signed.
In lieu of a Partnership Agreement, the Partners may provide a Resolution that:- Is signed by all partners or the General Partner (if applicable)
- Authorizes the creation of the membership
- Lists all partners and their ownership percentages
- Lists all authorized signers, and
- Assigns an authorized agent (if applicable).
- Must register with the County Clerk of Residence or the Secretary of State, as described below:
- Limited Liability Partnerships (LPs, LLP, and PLLPs) must file a Statement of Qualification with the Secretary of State.
- General Partnerships that use a “dba” must file a Certificate of Assumed Name with the Secretary of State and the County Clerk of residence.
- Any partnership registered with the Secretary of State must be Active and in Good Standing. Proof of standing must not be older than 30 days prior to the membership date and is provided at the member’s expense (if applicable).
Required Documents:
- Verification of your Employer Identification Number (EIN). This is usually verified by an IRS SS4 letter, Letter 147C, or the Federal Tax Return.
- 2 forms of ID for each authorized signer, one of which is a Government Issued Photo I.D. This can be a Driver’s License, Passport, State-issued I.D. Card, Military I.D. Card, or Permanent Resident Card (aka Green Card). The second form of ID may be any of the above listed examples or a Social Security Card.
- Must register and file Articles of Organization with the Secretary of State where organized. Must be Active and in Good Standing. Proof of standing must not be older than 30 days prior to the membership date and is provided at the member’s expense (if applicable).
- Operating Agreement, completed and signed:
If the business is a single-member, member-managed LLC, a copy of the Operating Agreement is not required. However, the sole member/sole officer must provide a resolution, signed by the sole owner/sole officer in their official capacity, that:- Attests to the sole ownership and management of the business
- Authorizes the creation of the membership
- Names all authorized signers, and
- Assigns an authorized agent (if applicable).
- Authorizes the creation of the membership
- Lists the members and their ownership percentages
- Lists all authorized signers, and
- Assigns an authorized agent (if applicable).
- If the business operates under any name other than that of the LLC, such as a “dba”, it must file a Certificate of Assumed Name with the Secretary of State.
Required Documents:
- Verification of your Employer Identification Number (EIN). This is usually verified by an IRS SS4 letter, Letter 147C, or the Federal Tax Return.
- 2 forms of ID for each authorized signer, one of which is a Government Issued Photo I.D. This can be a Driver’s License, Passport, State-issued I.D. Card, Military I.D. Card, or Permanent Resident Card (aka Green Card). The second form of ID may be any of the above listed examples or a Social Security Card.
- Must register and file Articles of Incorporation with the Secretary of State where formed. Must be Active and in Good Standing. Proof of standing must not be older than 30 days prior to the membership date and is provided at the member’s expense (if applicable).
- Corporate Resolution:
Required for all incorporated businesses. All resolutions should be signed by the Board Secretary in their official capacity. At a minimum, a completed resolution should address:- A list of all shareholders/owners with at least 25% ownership
- A list of all officers and their positions
- A list of all authorized signers, and
- The assignment of any authorized agent (if applicable).
- If the business operates under any name other than that of the INC, such as a “dba”, it must file Certificate of Assumed Name with the Secretary of State.
This section applies to business entities such as clubs, societies, charities, non-profits, religious groups, etc., that are not registered as separate legal entities with the Secretary of State and have no owners.
Required Documents:
- Verification of your Employer Identification Number (EIN). This is usually verified by an IRS SS4 letter, Letter 147C, or the Federal Tax Return.
- 2 forms of ID for each authorized signer, one of which is a Government Issued Photo I.D. This can be a Driver’s License, Passport, State-issued I.D. Card, Military I.D. Card, or Permanent Resident Card (aka Green Card). The second form of ID may be any of the above listed examples or a Social Security Card.
- Resolution:
Required for all unincorporated businesses. All resolutions should be signed by the Board Secretary in their official capacity. At a minimum, a completed resolution should address:- A list of all officers and their positions
- A list of all authorized signers, and
- The assignment of any authorized agent (if applicable).