Business Savings & Checking Accounts

Eligibility · Requirements · Required Documents by Business Type

Small businesses and microenterprises throughout New York City have turned to LES People’s FCU for affordable business accounts, services and loans for over thirty years. We’ve helped businesses, established and start-ups, expand and preserve their businesses.

Eligibility

You can join LES People’s if your Business meets one of the following requirements:

  • Business or Organization is located in our field of membership Lower East Side See map,, East Harlem See map, Central Harlem See map, or the North Shore of Staten Island See map; or

  • Business or Organization is an HDFC Co-op building; or

  • Business or Organization becomes a Select Partner Group (SPG)

  • One of the Business’ or Organization’s authorized officers of is a member of LES People’s FCU

Requirements

A Business or Organization Share (Savings) Account requires:

  • Annual Account Service Fee (charged on July 31) - $5.00

  • Minimum deposit required/value of one share - $25.00

  • Minimum Balance to avoid Monthly Maintenance Fee - $75.00

  • Monthly Maintenance Fee of $3.00 for accounts with combined balance below $75.00

A Business/Organization Share Draft (Checking) Account requires:

  • Initial deposit required- $50.00

  • No Monthly Maintenance Fee

  • No Minimum Balance required

  • Unlimited check transactions

Required Documents by Business Type

Sole-Proprietors

  • Completed Business Application Package

  • Business Certificate necessary only when business and owner’s names are not the same

  • Business Proof of Address

  • Employer Identification Number (EIN) from IRS

  • Personal Information from business owner

Partnerships, Limited Liability Companies (LLCs), Corporations

  • Completed Business Application Package

  • Certificate of Incorporation

  • Business Proof of Address

  • Employer Identification Number (EIN) from IRS

  • Personal Information from all business owners

Personal Information: In addition, the following personal information is required from all business owners:

  • A valid government picture ID such as Driver’s License, State issued ID, Passport, NYC ID, Consular ID, or Benefit card

  • Present a most recent proof of address such as a utility bill, pay stub, voter ID or a notarized letter of residence

Business Rates and Fees

Contact one of our Member Service Representatives if you have additional questions at (212) 529-8197, or (718) 554-4544 or by emailing lespfcu@lespfcu.org.