Cedar Point Federal Credit Union offers business accounts for all needs, from the largest corporations to the individual selling from catalogs in their living room. While the rate and fee structure is similar to our individual accounts, there are some differences. Please be sure to read the appropriate disclosures.
Businesses are eligible to open an account at Cedar Point Federal Credit Union if they regularly conduct business in St. Mary's, Calvert or Charles Counties in Maryland. Please see a Member Service Representative to get started.
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Opening a Business Account
In order to open a business account, we must have documentation to verify who has the authority to establish an account. Following is a list of appropriate documents depending on your type of business:
Articles of incorporation, business license and tax identification. We need one of the following items listed below to designate or change authority to transact business:
Limited Liability Company
Articles of organization, business license, tax identification and operating agreements. We need one of the following items listed below to designate or change authority to transact business
Partnership agreement, business license and tax identification. To designate or change authority to transact business a letter of instruction signed as stated in the partnership agreement.
Tax ID if available. All members associated with the club must fit into our field of membership. To designate or change authority to transact business, a letter of instruction signed by an authorized individual. In the absence of this signatory on account we will accept a letter from a person in position of authority.
Signed and dated charter, bylaws and minutes from the last held meeting appointing those entities as specified in the organization bylaws. To make any changes, we need one of the following: a letter of instruction signed by existing account holders and signatories on account stating who is designated to act on behalf of the corporation.
Sole proprietor using a tax id other than own SSN#
Trade name document, business license, and tax identification, or other supporting documentation.
Member accepting payments on behalf of a larger company
Who do we mean? Examples of a member accepting payments on behalf of a larger company are Mary Kay, Tupperware, or March of Dimes. For this we need a letter or contract from the actual business owner indicating authorization to transact business under that name.
Accepting Card Payments
ACH Payments Save Time & Money
Digital Deposits Can Help
Keep Devices Safe from Cyber Crime
Heartland Payment Solutions
Cedar Point Federal Credit Union and Heartland Payments Systems have partnered to offer you a comprehensive suite of financial solutions, all under one roof. From business checking accounts to card processing, payroll processing and more, our flexible solutions provide the highest standards. Plus, we handle the installation, training and service, so you can dedicate your resources to the aspects of your business that need them most.
Cedar Point Federal Credit Union and Heartland Payments Systems have partnered to offer you credit and debit card processing on state-of-the-art platforms, E3TM End-to-End Encryption technology that secures transactions and helps to ensure PCI compliance, full service payroll processing, including tax liability and reporting, through a single point of contact, local servicing personnel and 24/7/365 US-based support. Call 301-863-7071, ext. 8463 for more information.
Heartland offers these value-added solutions:
● Credit and debit card processing on state-of-the-art platforms
● E3TM End-to-End Encryption technology that secures transactions and helps to ensure PCI compliance
● Full service payroll processing, including tax liability and reporting, through a single point of contact
● Award-winning service organization that includes local servicing personnel and 24/7/365 US-based support
301-863-7071 ● 800-201-1647
Routing Number ● 255077736
APY = Annual Percentage Yield
APR = Annual Percentage Rate
*Early withdrawal penalties will apply.
Fees could reduce earnings on your account.
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Federally Insured by NCUA
We do Business in Accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.