Business Checking

Providing expert services to help your business thrive

The basic for every business is a reliable checking account that shows up to work every day. At 7 17, we believe your business deserves more than that. Our Business Checking account offers convenient features and valuable services, so you can get more done during the workday. There are no monthly maintenance fees or minimum balance requirements, and deposits are insured up to $250,000 per business.

Business Checking offers:

Deposits are insured up to $250,000 per business.

Make sure you have this paperwork in order before you start the account-opening process.

  • Completed Business Account Application1
  • Completed Business Resolution
  • "Active" status with the Ohio Secretary of State  for all business entities (except for Associations/Organizations)2 
  • Your Tax ID Number (TIN/EIN) or Social Security number
  • Name, Address, Date of Birth, Social Security Number and a copy of Driver’s License for the following individuals:
    • All Authorized Signers
    • Each Beneficial Owner - Individual with at least 25% ownership or more of the business (Applies to: LLCs, Corporations, Partnerships Only)
    • Controlling Person - One individual with significant responsibility in managing the business (Applies to: LLCs, Corporations, Partnerships, Non-Profit Corporations Only)
  • Summary of Items Needed per Business Entity

For more information about Beneficial Ownership, please visit www.717cu.com/beneficial-owner.
 

Disclosures:
1 Business must meet credit union membership criteria of opening a Business Savings Account and maintaining at least a $5 minimum balance.

2 Please contact your accountant. 7 17 Credit Union may assist you with locating these documents online if you have filed, but do not have them readily available.

7 17 Credit Union provides banking services to businesses in the greater Warren, Kent, Ravenna, Canton, and Youngstown, OH, areas. Contact our business team, or visit our Small Business Center, located in our Warren (Larchmont) Office, with any questions or to open your Business Checking account.

Disclosures:

1 The following items are excluded from the transaction count of Free Business Checking: ACH (Automated Clearing House), Debit Card/POS (Point of Sale), EFT (Electronic Funds Transfer), and ACH items paid through Bill Pay. Cash and check transactions are free for the first 200 transactions and then $.25 per item thereafter. A transaction may include, but is not limited to, a check, cash, an ATM Deposit, and a check paid through Bill Pay. Business must meet credit union membership criteria of opening a Business Savings Account and maintaining at least a $5 minimum balance.

2 NetWorth24 activation may be limited or not permitted if accounts have certain restrictions.

3 Bill Pay is FREE to use, but if no bills are paid during a month, an inactivity fee may be charged for that month. Ask for details or see Business Service Charge Schedule.

4 QuickBooks must be already purchased separately through a retailer.

5 Unless your business is a Sole Proprietorship or an LLC, overdraft sources are limited to accounts set up on the business account, such as your business savings, business money market, and/or a line of credit. Other restrictions may apply. There is a fee for each Overdraft Protection transfer. See our Business Service Charge Schedule.

6 Certain qualifications and restrictions apply. Ask for details. There is a fee for each paid overdraft (non-sufficient funds) occurrence. See our Business Service Charge Schedule.

7 Subject to approval. Ask for full details and disclosures.