Prospective Member:
A Savings Account is required for membership with Actors Federal Credit Union (Actors FCU). Business accounts require an initial deposit of $100 to the savings account at opening. A balance of $100 must be in the savings account before the end of each calendar month and one member-initiated transaction must be completed every twelve months to avoid fees.
Business accounts (savings and checking) are available to individuals that have (and must maintain open) an existing personal account and belong to one of our affiliated membership organizations (https://www.actorsfcu.com/about/about-us/member-organizations) or are related to an immediate family member (parent, child, sibling, spouse/domestic partner, grandparent or grandchild) with an existing account.
WHAT WE NEED FROM YOU:
In order to open a Business Account with Actors FCU, please prepare the following items/documents:
1. Completed membership application package with wet signature(s) – No Digital Signatures.
2. Proof of membership eligibility:
- Select Employee Group (SEG) affiliation (unexpired union card, recent pay stub or original letter from employer). OR
- Proof of relationship to current member (certification of relationship form).
3. Copy of Valid Government-issued photo ID for all account holders.
4. Proof of address (e.g., utility bill or lease agreement) if the address on the custodian’s photo ID does not match the address listed on your membership application.
5. Additional Requirements by Type of business;
- Sole Proprietor (DBA - Doing Business As)
- Official DBA Certificate from County Recorder’s Office.
- For this type of account, you can use your personal Social Security Number or Tax Identification Number (Copy of SS-4 form from IRS).
- Partnership
- Official Business Partnership Certificate from County Clerk’s Office.
- For this type of account, the social security number of the president of the partnership can be used or a Tax Identification Number (copy of SS-4 form from IRS).
- Corporation & LLC
- Copy of SS-4 response form from IRS (Not application).
- Proof of Business State Registration with original official seals;.
- Corporate By-Laws (signed minutes).
- Articles of Incorporation (Traditional, S Corp, C Corp, etc…).
- LLC Certificate.
- Equity Bond
- Original Security Agreement letter from Actors Equity Association.
- Official DBA/Business Partnership Certificate from County Recorder’s Office (Original) or Proof of Business State Registration (Corporate By-Laws, Articles of Incorporation, LLC Certificate, etc…).
- Copy of SS-4 response form from IRS (Not application).
HOW TO SUBMIT YOUR INFORMATION:
Our preferred method of document submission is through our Secure File Upload Center located on our website. Complete the required fields and upload all items listed above.
If you do not have the ability to submit your application via our Secure File Upload Center, we can also accept your application and documents in person or via USPS mail. Applications should be submitted to the Actors FCU Branch that is nearest to your home address. Applications that are submitted via mail or fax may require additional time for processing. Our branch locations are listed on the footer of this letter or at https://www.actorsfcu.com/about/locations/locations.
PROCESSING THE APPLICATION:
Once we have received the completed application and all supporting documents, the package will be assigned to a new account representative within 1 to 3 business days. You will receive an email with the name and email address of the assigned representative. Once the application is assigned, please allow 7 to 10 business days for account opening. Please note that incomplete packages will delay these processing times.
FUND YOUR NEW ACCOUNT:
You must deposit at least $100 to establish this membership.
If you have any questions or need assistance, please contact us at 212.869.8926, option 6.
