Business Checking & Savings

Member Business Services is flourishing at P1FCU! We now have multiple savings and checking products to help you find the right fit for your business needs paired with the attention you expect from your credit union.

Expand all | Collapse all

  • Business Checking  

    A P1FCU business checking account provides you with a simple, cost-effective way to manage your cash flow and process your daily cash receipts and disbursements. We can give you basic options for a small business, or more complex capabilities for you as your business grows.

      Minimum Balance Monthly Maintenance Fee Dividends Paid Check Writing Fee Deposit Fee Cash Deposit Fee Non-Sufficient Funds Fee
    Non-Profit $0 $0 Yes $0 $0 $0 $25
    No Fee $0 $0 No $0 $0.20 per item over 50 deposit items per month $0.05 per $100 deposited over $1000 per month $25
    Premium** $1000 $10 Yes* $0 $0 $0.05 per $100 deposited over $5000 per month $25
      Returned Item Fee Paid Overdrafts Stop Payment Fee Debit Card Online Banking Enhanced Online Banking EZ Office Deposit
    Non-Profit $5 $25 $20 No-Fee Standard No No
    No Fee $5 $25 $20 No-Fee Standard No No
    Premium** $5 $25 $20 No-Fee Enhanced Yes $20 monthly maintenance fee Yes $40 monthly maintenance fee

    *Dividends paid when the minimum balance is maintained.
    No fee is accrued if balance falls below $1000.
    **Special dividends apply to balances $25,000.01+.

    Non-Profit APY*
    $0.01 + 0.15%

     

    Business No Fee APY*
    Not qualified to earn dividends on any dollar amount 0.00%

     

    Business Premium APY*
    Business (Premium Account Only, minimum $1000 balance to earn dividends)  
    $0.00 - $999.99 0.00%
    $1000.00 - $25,000 0.15%
    $25,000.01+ 0.55%

    Other Benefits

    Online Banking

    Our Online Banking solution includes an all new array of business functions to make running your business on the go as easy as the push of a button!

    Standard Features Include:

    E-Alerts
    E-Statements
    External Transfers
    Download to your Quicken & Quickbooks software
    Free Billpay
    View Images of Cleared Checks
    Mobile Remote Deposit

    Enhanced Features Include (Premium Checking Only):

    ($20 monthly maintenance fee)
    Payroll
    ACH Payments
    EFTPS (Electronic Federal Tax Payment System)

    EZ Office Deposit

    With EZ Office Deposit you can deposit checks electronically from your office. A Premium business checking account is required for this service and a monthly maintenance fee of $40 is charged. Purchase or lease of equipment is required.

  • Business Savings  

    Regular Savings

    Getting started is easy with a P1FCU savings account that requires just $35 to open.
    Your account has:

    • No monthly fee
    • Earns dividends
    • Free Online Banking
     
    Savings APY*
    Regular Savings 0.25%

    Money Market Savings

    If you are looking to earn a competitive rate on a bigger balance, you might need our Money Market Savings account. With no fee and tiered dividends, you will see the rewards pile up for savings efforts!
    This account does require a Business Checking account.

    Money Market Savings ** APY*
    $500.00 - $9,999.99 0.55%
    $10,000.00 - $99,999.99 0.55%
    $100,000.00 + 0.55%

    *APY - Annual Percentage Yield. Rates and terms subject to change without notice.

    ** Minimum balance requirements: The balance required to open this account is $500.00. You must maintain a minimum average daily balance of $500.00 in your account to obtain the disclosed annual percentage yield.

  • Business Documents Guide  

    Not sure what to bring with you to set up an account? Check out the table below.

    **All businesses must be registered with the Secretary of State in either Idaho or Washington.
    The business must be located in one of 13 counties that P1FCU serves.

    Type of Entity Tax ID # Key Documents
    Sole Proprietor SSN or EIN of Sole Proprietorship  Certificate of Assumed Business Name or Registration of Trade Name
    LLC EIN of LLC
    • Operating Agreement
    • Certificate of Organization
    • If Members/Managers differ from Operating Agreement and/or additional signers will be added, signed meeting minutes detailing the changes are required
    • Certificate of Assumed Business Name if LLC is taking deposits under a name other than the LLC name
    Corporation EIN of Corporation
    • Articles of Incorporation
    • By-Laws
    • Articles of Incorporation State Filing
    • If signers differ from by-laws and/or additional signers will be added, signed meeting minutes detailing the changes are required
    • Certificate of Assumed Business Name if Corporation is taking deposits under a name other than the Corporation name
    Partnership EIN of Partnership
    • Partnership Agreement
    • Statement of Partnership
    • Certificate of Assumed Business Name if Partnership is taking deposits under a name other than the Partnership name
    Limited Liability Partnership EIN of LLP
    • Partnership Agreement
    • Statement of Partnership 
    • Certificate of Assumed Business Name if Partnership is taking deposits under a name other than the Partnership name