Savings and checking can be opened for a variety of business types including: Club/Organization, Corporation, General Partnership, Limited Partnership, Limited Liability Company, and Sole Proprietorship/DBA. Businesses must be established within Southern California.
When opening a business account, you must provide a business account agreement; letter from the Department of Treasury confirming your Employer Identification Number (EIN) or Social Security Number (for Sole Proprietorships) ; business license, if applicable; a valid social security number for each signer; a valid unexpired, government-issued photo identification for each signer; confirmation that you have reviewed our business account disclosure; and business account service questionnaire and certification regarding beneficial owners of legal entity customers. Depending on your business type, additional documents may also be required.
Rules and Regulations
Due to special governmental rules and regulations, we do not offer business accounts with a large volume of business activity on an ongoing basis. These accounts require an ongoing enhanced level of due diligence and we are not equipped to adhere to these regulations. Your business information will be reviewed to determine the eligibility of your business account.
To open a business account today, visit a LAFCU Branch.