Business Services
Lending a Hand in Business
When it came time to put your savings in someone else’s hands, you chose someone you knew and could trust. Shouldn’t you do the same for your business?
Auto Body Credit Union established our business services products to help members as they pursued their dreams and ambitions of running their own business.
Disclosure
Fees
Business Account Eligibility
The member business owner must be eligible for membership with ABCU. Proper documentation must be obtained before a business account is opened.
Required Business Forms
-DBA, Partnership Agreement, Articles of Incorporation, or Articles of Organization (for LLC and an Operating Agreement if applicable)
-Completed Business Account Application and Copy of Resolution
Business Share Account
This represents your ownership in Auto Body Credit Union.
Money Market Account
Featuring a four-tier interest rate structure, this savings account puts your savings plan into overdrive. Based upon minimum balances of $2,000, $20,000, $75,000 and $200,000, these accounts make your savings work even harder with higher interest rates. Interest is calculated using the daily balance method and is paid monthly.
Certificates of Deposit
Certificates of Deposit are longer-term investments with a guaranteed rate of return. Typically, certificates offer the highest rate of return on savings. Offering varying terms of maturity, certificates require a minimum investment of $500; interest is paid monthly.
Checking
Whether you are simply paying bills or you want your money to earn interest, you’re sure to find a good fit with our business checking products.
Business Basics Checking
Safe and convenient, our no-nonsense checking features:
• No monthly statement charges
• No minimum balance requirement
• Debit card
• Identity theft resolution services and overdraft protection may be available
• Transactions: 75 free transactions per month*
*$.25 per transaction over 75
Business Advantage Checking
If you want an interest-bearing checking account, Business Advantage is for you:
• Minimum Balance: $1,000 average daily balance to earn interest
• Interest is paid monthly using the daily balance method
• Debit card
• Identity theft resolution services and overdraft protection may be available
• Transactions: 250 free transactions**
**$.25 per transaction over 250
Loans
ABCU has a proud tradition of offering low loan rates and affordable repayment terms. We are building on that tradition by offering business loans up to $50,000.
• Secured Loan—provides the funds you need to invest in equipment, inventory or other facets of your growing business.
• Line of Credit—offers you the benefits of open-end financing with 72 months repayment and access to a line of credit up to $15,000. Revolving credit allows you to borrow for nearly any purpose.
Card Services
VISA®
Get the credit you deserve with an ABCU VISA card. Our card provides you with valuable member credit benefits, affordable rates, and worldwide acceptance. Finding a credit card that’s right for you has never been easier.
• Cash Rewards • Travel Rewards
ATM Card
Our instant issue ATM card provides access to your accounts 24 hours a day, every day of the year. You can use it to withdraw cash, make transfers, check balances, deposit cash or checks. Simply come in to any Auto Body Credit Union office and we’ll issue it on the spot. Transactions at ABCU ATMs are free, and you may make five free transactions per month at non-ABCU ATMs before incurring charges. ABCU 24-hour ATMs are available at all Lansing branches.
Debit Card
If you have a checking account with Auto Body Credit Union, you should be experiencing the convenience of our MasterMoney Debit Card. It looks like a credit card, but works like a check. Use it for purchases at millions of locations worldwide—simply present your debit card at the point of sale and the funds are automatically deducted from your checking account. It’s easy to use and eliminates the hassle of carrying your checkbook or the worry of carrying large amounts of cash. Best of all, your debit card also serves as your ABCU ATM card at affiliated networks across the country, giving you 24-hour access to your funds.
ACH Origination
Need to make a “one-time” electronic transfer or would you prefer to arrange periodic transfers? ABCU’s ACH origination provides a convenient, cost-effective means of transferring funds between financial institutions. Talk with a member services representative to arrange an ACH transfer.
