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Business Accounts

Hershey Federal Credit Union supports local businesses in the community. HFCU can help provide additional capital to your existing business or start a new line of business. We can also help with building rennovations, additional equipment or refinance existing business debt. A lot of financial institutions offer business loans but we encourage you to experience HFCU business products & services. Hershey Federal Credit Union will do the best to say YES! and accomodate your business financial needs.

How to Become a HFCU Business Member

All members of an organization or the owners of a business must be in HFCU's field of membership in order for the organization or business to qualify for HFCU memberhip. HFCU membership includes anyone who lives, works, workships or attends school in Dauphin and Lebanon Counties, as well as members of their immediate families.

Business Types and Membership Eligibility Requirements

1. Sole Proprietorship - this is an individual account and owned by one person.

    • The business owner may add authorized signers to conduct business transactions (such as a bookkeeper), but the authorized signer does not have ownership or survivorship rights. Authorized signers should sign the HFCU Membership Card.
    • May be opened as Doing Business As (DBA) account with the individual's Social Security Number (SSN).
    • May be opened with a Trade name using a TIN, verification of State Registration of the Trade name must be required.

2. Partnership - is an association of two or more people who conduct business as co-owners and agree to share the profits and liabilities according to articles of partnership agreement. This may be a general or limited partnership.

    • Partners must provide a copy of the partnership agreement.
    • Accounts must be opened under the name of the partnerships with a TIN, and documentation showing which partners have authority to sign the account documents and conduct transactions as required.
    • The partners may add authrorized signers to conduct transactions without ownership or survivorship rights. An Authorized Membership Card must be signed.
    • On all Share Drafts accounts where the partnership requires two signatures on checks, HFCU will not verify that two signatures are on the checks before clearing them against the account. It will be the business' responsibility to verify two signatures.

3. Corporations - a corporation is a legal entity that is created under the law and owned by its stockholders.

    • A Corporate Resolution is required to indicate which individuals have the authority to conduct transactions for the corporation.
    • The account must be opened with a TIN in the name of the corporation with the corporation being the owner of the funds.

4. Associations/Club - This is a group of persons acting together without a formal business agreement.

    • At least one or more of the members of the group must be an HFCU member
    • The account is opened in the name of the association or club and may use a TIN or the SSN of one of the authorized signers.
    • An authorization card and a copy of the asscociation's minutes of meeting maybe used to establish the names of authorized signers.

Business Accounts

Non-Personal Accounts: includes Proprietorships, Clubs/Organizations, Informal Trusts, UTMA and Trust Accounts.

Manage your business accounts hazzle-free funds transfers anytime and anywhere through HFCU Internet Branch and Mobile Branch. You can also enjoy using the benefits of the Bill Payer with a $2,500 daily limit to pay your business payables.

  • Business Shares Accounts (All business types)
    • $5.00 initial deposit and account balance
  • Business Draft Accounts (All business types)
    • $100 initial deposit and account balance to avoid fees
    • Deposit item return $10.00
    • Return checks (NSF) $33.00
    • Overdraft Protection and Overdraft Privelege
    • MasterCard Check Card
    • Paper Statement (accounts opened after 11-30-12) $2.00/each
 

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