Deposit Services

Business deposits are part of the core package of services business members need. The expert staff at CU Business Group will guide you through the process of developing and implementing the package of services that best fits your program. The following are some of the options for your business deposit services package:

  • Business checking accounts
  • Business savings and money market accounts
  • On-line banking
  • Merchant bankcards
  • Business tax payments
  • Remote deposit capture
  • ACH origination
  • Sweep accounts
  • On-line cash management
  • Payroll services

Of course, in assembling this package there are many important considerations to address. CU Business Group will provide the necessary expertise to evaluate these key areas:

  • Your core system capabilities – is the system robust enough?
  • Teller row processes – do you need a merchant window?
  • New accounts – do you have the right forms and procedures in place?
  • Volumes – what about businesses with large deposits and high cash/coin usage?


Deposit Compliance

Once you have your business deposit products established, those accounts must be setup and maintained in compliance with regulations. CUBG works diligently to provide our credit unions with relevant information and changes to these regulations. CUBG Members can count on receiving clear instructions on the implications of any change to their business program.

Key areas of compliance to address in any business deposit program:

  • Do the same regulations apply to business accounts as consumer?
  • Do I need separate forms and agreements for business accounts?
  • What identifying documentation is necessary for a business?
  • What searches must be completed at business account opening?