Microbusiness Checking Accounts

Micro business Checking accounts allow you to make payments with security and ease under your business’ name. It will also help you separate the way you manage your personal finances with those of the business so that you can differentiate expenses and income from one and the other. This account will also help you have a more formal presence with suppliers and clients as they will have a better impression of you and your business.

You will save money and time because you will no longer need to buy money orders to pay your bills. Instead you can use checks or schedule direct payments from your account. This will help you organize the way you manage payments with your suppliers and other vendors on which your business depends regularly.
 
Debit Card - When you open a checking account, you will receive a VISA® debit card with your business’ name on it that will allow you to make payments without carrying cash. You can use the card in stores and restaurants in any part of the world, with any business that accepts VISA. You can also make purchases over the phone or the Internet.
 
Accessible - You can use your card wherever the following are accepted:
 
What do I need to open a Checking Account?
 
Flexible - You can deposit or withdraw money from your account whenever you want, directly from your local branch, using the ATM, with your VISA debit card, by phone through Latino Direct, 1-866-USE-LCCU or Online through Latino DirectoNet.  
 
To use Latino Credit Union’s services you must first become a member.
 
The Checking Account earns interest, so you will need a Social Security Number (SSN) or an Individual Tax Identification Number (ITIN). If you don’t have an ITIN, you can open a temporary account while you apply for an ITIN. Any of our representatives can help you apply for an ITIN.
 
If you are already a member, and you want to open an account for your business, you just need to bring a personal ID and the proper documentation of the business. (whether that is the EIN, a proof of your taxes, or any other legal document that provides evidence that the business is in existence and that you are the owner or one of the partners)
 
Is there a minimum balance?
 
Yes the minimum balance is $100 dollars. You can go below the $100 minimum balance, but there will be a fee of $5.
 
How many checks can I use?
 
You can use up to 50 checks per month for free. Cleared items exceeding 50 incur $0.20, per item, fee.
 
Can I check my account online?
 
Yes, you can access your account online for free.
 
What services can I have online?
 
  • View images of year-end documents (1099-INT, 1099-Q, 1099-R, 1099-C, 1099-SA, 1098 and Credit Card Summary)
  • View activity today transaction(s) detail
  • View account balances and information
  • Transfer funds between accounts
  • Customized User ID and Password
  • View images of monthly statements and cleared checks
  • Initiate wire transfers
  • Apply for accounts and loans
  • Pay bills with online BillPay
  • Order checks and deposit slips
  • Request stop payments
  • Request check or statement copies
  • Submit a change of address for your accounts
  • Apply for overdraft protection
  • Utilize a variety of financial tools
  • Communicate directly with LCCU via secure message
 
What is overdraft protection?
 
If you write a check for more money than you have in your account, funds will be transferred from your savings account (or whichever account you designate) to cover the check. For more details, talk to your representative.
Ask a member service representative about a Checking Account.
All accounts are federally insured up to $250,000 through the National Credit Union Administration (NCUA).