Business Checking

Beneficial Ownership Information (BOI)

At Union Savings and Loan Association, we are committed to complying with regulatory requirements regarding Beneficial Ownership Information. The new Corporate Transparency Act mandates that businesses must report their Beneficial Ownership Information directly to FinCEN (Financial Crimes Enforcement Network). While we continue to request this information from our customers as part of account opening and ongoing compliance procedures, please note that we are not required to submit this data to FinCEN, nor do we have access to the FinCEN database. It is important for businesses to take action and report their beneficial ownership details online through the FinCEN website. For assistance, FinCEN provides a helpful 5-minute video on their website that walks businesses through the registration process. We encourage you to review this resource to ensure compliance with the new regulations.

BOI - Customer Notice

Checking Accounts benefits:

FREE CHECKING ACCOUNTS for businesses with less than 300 debits per month
Online Banking Access including QuickBooks, Quicken export
Debit Cards
Elavon Merchant Service (Credit Card Machine)
Health Savings Accounts also available
Personal Customer Service

Compare Our Checking Accounts
Account	Business Preferred Plus Checking	Business 1000 Checking	Business Analysis Checking
Account Description	A free checking account perfect for small business needs	Business checking account for business customers that have between 101 – 300 debit transactions per month	Business checking account for business customers that have over 300 debit transactions per month
Minimum Opening Deposit	$100	$100	$100
Minimum Balance Requirement	None	$1000 Average Monthly Balance	N/A
Service Charge	Free	Free ($10 if minimum not maintained)	Based on analysis of usage
Transaction Limits	100 Debit transactions per month	300 Debit transactions per month	Unlimited
Statements	Image statements showing front copy of checks.	Image statements showing front copy of checks.	Image statements showing front copy of checks.
Overdraft Privilege	$500	$500	$500
Online Banking	Yes	Yes	Yes
Online Bill Pay	Add on Option	Add on Option	Add on Option
Debit Card	Yes	Yes	Yes
Sweep Functionality	Add on Option	Add on Option	Add on Option
Overdraft Protection	Line of credit available in varying amounts. Requires credit approval.	Line of credit available in varying amounts. Requires credit approval.	Line of credit available in varying amounts. Requires credit approval.
Checks	Checks available at cost depending on design	Checks available at cost depending on design	Checks available at cost depending on design

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We’re available to assist you with your needs. Please give us a call or visit a branch to get started.

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