Business Savings

Getting Down To Business

Launch CU Business Savings Accounts
Local businesses are the lifeblood of the communities that we serve. That’s why we offer various business accounts to help our area businesses get established and enjoy prosperity and growth. Launch CU offers business savings accounts that can help you go beyond, and reach your financial goals.
Our business savings accounts have great features such as digital banking, eStatements, and more that can make running your business’ finances a breeze. Our business accounts are available to: sole proprietorship, nonprofit organizations, “S” corporations, LLCs, partnerships, and Unincorporated Organizations. For more information, please view the tab boxes below.
Business Savings Account Features:
- Minimum Deposit: $5
- Minimum Balance: $5
- Earns dividends with a minimum daily balance of $200
- No Early Withdrawal Penalty
- Online Banking
- E-Statements
- ATM/Debit Card

Business Savings and Checking Accounts are available to:
- Filter:
- Sole Proprietorship
- Non-profit Corporation
- Corporation
- LLC
- Partnership
- Unincorporated Organization
A Sole Proprietorship is an unincorporated business that is owned by one individual. It is the simplest form of business organization to start and maintain. There is no distinction between the business and the owner.
To open a new account, the following items are needed:
The account cannot be opened without these required items
- Certificate of Fictitious Name - if DBA is applicable
- The Fictitious Name must be active with the Florida Department of
Corporations - A Fictitious Name registration is not required for an individual’s legal
name
- The Fictitious Name must be active with the Florida Department of
- Social security number of the owner or a Federal Tax I.D. number (Employer Identification Number) is required
- If business pays federal excise or employment taxes, a Federal Tax I.D.
number is required.
- If business pays federal excise or employment taxes, a Federal Tax I.D.
- Government issued photo identification and required information for each signer.
A Non-Profit Corporation is an independent legal entity that exists separately from the people who control and manage it.
A Non-Profit Corporation depends on charitable donations and/or voluntary service for support.
To open a new account, the following items are needed:
The account cannot be opened without these required items
- Articles of Incorporation
- Bylaws/Charter
- Federal Tax I.D. number (Employer Identification Number)
- Corporation must be active with the Florida Department of Corporations
- Government issued photo identification and required information for each signer.
- Meeting minutes or board resolution authorizing account opening and identifying signers.
When changing signers on your account, the following documentation is required:
- Meeting minutes or board resolution specifically authorizing the requested changes on the account.
- Government issued identification and required information for each signer.
A Corporation is an independent legal entity that exists separately from the people who own, control and manage it. The owners have limited liability.
- C Corporations are taxed as separate entities. There is no restriction on ownership and there can be multiple classes of stock.
- S Corporations have only one level of taxation. The corporation’s separately stated items of income, deduction, loss, and credit, are passed through to the shareholder’s tax returns.
To open a new account, the following items are needed:
The account cannot be opened without these required items
- Articles of Incorporation
- Federal Tax I.D. number (Employer Identification Number)
- Corporation must be active with the Florida Department of Corporations
- Government issued photo identification and required information for each signer and beneficial owner.
A Limited Liability Company (LLC) is a legal business entity provides its owners with limited personal liability. It offers flexible tax options and may be tax classified as a C Corporation, S Corporation or Partnership.
To open a new account, the following items are needed:
The account cannot be opened without these required items
- Articles of Organization
- Operation Agreement
- Federal Tax I.D. number (Employer Identification Number)
- LLC must be active with the Florida Department of Corporations
- Government issued photo identification and required information for each signer and beneficial owner.
A partnership exists when two or more persons or entities co-own a business.
- General Partnership (GP)– The rights and responsibilities are generally divided equally among the partners. General Partners are jointly liable for the partnership debts and can act on behalf of all partners.
- Limited Partnership (LP) – Consists of both General and Limited Partners who benefit from the business’s profits. General Partners manage the business. Limited Partners do not manage the business activities and are not liable for the business debts.
- Limited Liability Partnership (LLP) – A partnership where some of all of the partners have limited liability.
To open a new account, the following items are needed:
The account cannot be opened without these required items
- Partnership Agreement
- Federal Tax I.D. number (Employer Identification Number)
- Partnership must be active with the Florida Divisions of Corporations
- Government issued photo identification for each partner or signer.
An Unincorporated Organization is a not for profit association formed by a group of individuals for charitable, scientific, educational, literary, or religious purposes.
To open a new account, the following items are needed:
The account cannot be opened without these required items
- Bylaws/Charter
- Federal Tax I.D. number (Employer Identification Number)
- Meeting minutes or board resolution authorizing account opening and identifying signers.
- Government issued identification and required information for each signer.
When changing signers on your account, the following documentation is required:
- Meeting minutes or board resolution specifically authorizing the requested changes on the account.
- Government issued identification and required information for each signer.

For more information on Launch CU Business Accounts, and how they can help your business go beyond, give us a call at 321-455-9400 (inside Brevard) or 800-662-5257 (outside Brevard), or stop in to any of our conveniently located branches to set up your Business Accounts today!