Getting Down To Business

Launch FCU Business Accounts

Local businesses are the lifeblood of the communities that we serve in Brevard and Volusia counties. That’s why we offer various business accounts to help our area businesses get established and enjoy prosperity and growth. Launch FCU offers business savings accounts and business checking accounts that can help you go beyond, and reach your financial goals.

Both our business savings accounts and business checking accounts have great features such as digital banking, eStatements, and more that can make running your business’ finances a breeze. Our business accounts are available to: sole proprietorship, nonprofit organizations, “S” corporations, LLCs, and partnerships. For more information, please view the tab boxes below.

Business Savings and Checking Accounts are available to:

A Sole Proprietorship is an unincorporated business that is owned by one individual. It is the simplest form of business organization to start and maintain. The business has no existence apart from you, the owner. Its liabilities are your personal liabilities and you undertake the risks of the business on your own tax return.

Example:
John Doe DBA Happy Handyman
John Q. Public DBA Happy Days Lawn Service

To open a Sole Proprietorship Account at Launch FCU, all signers must be present with the following documentation:

  • Business County Tax Receipt – A city tax receipt will also be required if the business is located within city limits.
  • Fictitious Name Registration Certificate- If applicable
  • Federal Tax ID Number (SSN of the owner or Employee Identification Number of the business)

A Non-Profit Organization is an association formed by a group of individuals for charitable, scientific, education, literary, or religious purposes, such as running a homeless shelter or a low-cost medical clinic.

To open an Unincorporated Organization Account at Launch FCU, all signers must be present with the following documentation:

  • Federal Tax ID Number (Employer Identification Number)
  • By-laws or Charter of the Organization
  • Minutes of the meeting appointing authorized persons

A corporation is an independent legal entity that exists separately from the people who own, control, or manage it. The legal name includes the word “corporation” or abbreviation “corp” or “inc.” Corporations can be classified as either “C” or “S” for tax purposes. Corporations can be registered with the Department of Corporations as either for profit or non-profit.

To open a corporation account at Launch FCU, all signers must be present with the following documentation:

  • County Business Tax Receipt- A city tax receipt will also be required if the business is located within city limits.
  • Federal Tax ID Number (Employer Identification Number)
  • Articles of Incorporation

A Limited Liability Company (LLC) offers limited personal liability similar to a corporation. LLCs provide more flexible tax options, and may be classified as a C Corporation, S Corporation, or Partnership for tax purposes. Owners of a LLC are members who may actively participate in management of the company. Separate managers may also be designated.

To open a LLC Account at Launch FCU, all signers must be present with the following documentation:

  • Federal Tax ID Number (Employer Identification Number).
  • Business County Tax Receipt- A city tax receipt will also be required if the business is located within city limits.
  • Articles of Organization
  • Operating Agreement

A partnership exists when two or more persons co-own a business and share the profits and loses of the business. Each person contributes money, property, labor, or skill, and expects to share in the profits or loses. A partnership is not a taxable entity.

To open a Partnership Account at Launch FCU, all signers must be present with the following documentation:

  • Business Tax Receipt- A city tax receipt will also be required if the business is located within city limits
  • Partnership Agreement
  • Federal Tax ID Number (Employer Identification Number)

Business Savings And Checking Features:

Business Savings Account Features:

Business Checking Account Features:

Business Non-Profit Checking Account Features:

Review all Launch FCU Business Account Fees and Charges.

For more information on Launch FCU Business Accounts, and how they can help your business go beyond, give us a call, or stop in to any of our conveniently located branches to set up your Business Accounts today!

To get started, give us a call at 321-455-9400 (inside Brevard) or 800-662-5257 (outside Brevard), or stop by any of our conveniently located branches.
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Mobile Banking is free from Launch FCU. Access rates or texting charges may apply, however, depending on your carrier and your plan. Online web access is needed to use these services.

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