University of Iowa Community Credit Union offers a variety of checking and savings accounts to fit your business, big or small. 

Checking Services | Savings Services | Documentation Needed to Open a Business Account


Checking Services

All checking accounts require a $50 initial deposit when opening the account.


Business Basic Checking

Designed for accounts that have less than 50 transactions per month.

  • No minimum deposit
  • No monthly maintenance fee
  • Per debit fee: $0.25 per debit after 50


Business Checking

Designed for accounts that have between 100 and 250 transactions per month.

  • No minimum deposit
  • Monthly maintenance fee: $6 plus tax
  • $500 minimum average daily balance to avoid maintenance fee
  • Per debit fee: $0.25 per debit after 100


Commercial Checking

Designed for accounts that have more than 250 transactions per month.

  • No minimum deposit
  • Dividend-bearing   (view current rates)
  • Monthly maintenance fee: $25 plus tax
  • $5,000 minimum average daily balance to avoid the maintenance fee and to earn dividends
  • Per debit fee: $0.15 per debit after 400


Savings Services

A $5.00 deposit to savings is required to establish membership.


Business Savings

  • Dividends paid and compounded monthly (view current rates)
  • Dividends paid on balances over $500
  • Dividend tiers at $1,000 and $25,000
  • Limit 3 withdrawals per month: $1 per debit after 3


Business Premier Money Market

  • Dividends paid and compounded monthly  (view current rates)
  • Dividends paid on balances over $10,000
  • Dividend tiers at $50,000, $100,000 and $250,000
  • Limit 3 withdrawals per month: $15 per debit after 3


Business Mega Money Market

  • Dividends paid and compounded monthly  (view current rates) 
  • Dividends paid on balances over $25,000 
  • Dividend tiers at $50,000, $100,000 and $250,000 
  • Limit 3 withdrawals per month: $10 per debit after 3 


Documentation Needed to Open a Business Deposit Account

To open a business deposit account, UICCU will need to obtain information to verify your business as well as the individuals associated with it. Please find the applicable business type in the list below and review the documentation needed in order to open an account. You must have the documentation listed below or we will be unable to open your account.


DBA/Sole Proprietorship

  • Trade Name Form*
  • Copy of driver’s license


Organizations/Associations/Clubs

  • Meeting Minutes stating authorized signers and titles
  • Organization/Association Articles or Bylaws
  • EIN
  • Basic information for all authorized signers and copies of driver’s licenses


Partnerships

  • Partnership Agreement
  • EIN 
  • Basic information for all authorized signers and copies of driver’s licenses


Limited Liability Companies

  • Certificate of Organization
  • Operating Agreement**
  • EIN
  • Fictitious Name Certificate or Statement, if applicable
  • Basic information for all authorized signers and copies of driver’s licenses


Corporations

  • Articles of Incorporation
  • Bylaws***
  • EIN
  • Fictitious Name Certificate or Statement, if applicable
  • Basic information for all authorized signers and copies of driver’s licenses


Resources

EIN - Visit the IRS website to obtain an EIN number

Trade Name Form

Statement in Lieu of Operating Agreement (for Single Owner LLC)

Statement in Lieu of Bylaws (for Single Owner Corporation)



* The Trade Name Form is only necessary if the member’s last name is not included in the business name.

** If you do not have an Operating Agreement and are a single owner LLC, UICCU will accept a “Statement in Lieu of Operating Agreement”. 

*** If no bylaws exist and are a single owner corporation,  we will accept a “Statement in Lieu of Bylaws”.