Fillable 97B Business Solutions Membership Application

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97B Business Solutions Membership Application

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The 97B Business Solutions Membership Application form is 6 pages long and contains:

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  • 61 check-boxes
  • 158 other fields

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File type: PDF

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© 2020 Navy Federal NFCU 97B (4-20)
This document contains both information and form fields. To read information, use the Down Arrow from a form field.
Business Solutions Membership Application
(Instructions and General Information)
Note: For faster processing, please review and follow all instructions. Your Business Membership WILL NOT be opened without ALL required and
completed documentation. Incomplete Business Membership Applications will be declined after 5 business days. Applicants whose applications are
declined due to incompleteness are always welcome to reapply at their convenience.
Business Membership Eligibility
• For business membership eligibility, all Owner(s) of the Business must have an existing individual membership with Navy Federal.
• A $5 (minimum) Business Membership Savings Account must be opened to establish a Navy Federal Business Membership in the business entity’s
legal name. This is not required for sole proprietorships.
• Navy Federal requires a minimum of $100 to establish a new Business Membership. This deposit may be transferred from an owner’s existing
Navy Federal account, deposited by cash or check, or processed through card-based funding. This minimum deposit requirement will be transferred
(along with the $5 membership share purchase deposit, if applicable) to the Business Membership Savings Account upon approval of the Business
Membership Application.
• All Navy Federal accounts (personal and business) held by all Owner(s) must be in good standing (with Navy Federal) to open a Business
Membership. The personal account(s) of the Owner(s) must remain in good standing for the duration of the Business relationship with Navy Federal.
The failure of any owner to maintain this status in their personal accounts will result in the closure of associated Business accounts if the personal
account(s) remain not in good standing for 120 days.
How to Establish a Business Membership
• Branch: Visit a local branch to open your account.
• Contact Center: Call Business Solutions’ Contact Center at 1-877-418-1462.
• Details on the application process are also available online at
:
https://www.navyfederal.org/products-services/business-services/membership.php
Required Business Entity Documentation
• Page 1 of the Business Services Membership Application contains a list of the required business entity documentation for each entity type.
• Navy Federal recognizes that various U.S. States, Counties, and/or Local Municipalities may have variations specific to the titles of specific
business entity documentation. These documents will be acceptable if found to be reasonably comparable to Navy Federal’s documentation
requirements.
• The Beneficial Owner Certification form (NFCU 98) must be completed for all Legal Entities and submitted with your Application.
• Please ensure all signatures are provided and appropriate documentation is included with your Application.
Authorized Signers
• Authorized Signers are allowed access to all Business Checking and Savings accounts.
• The business owner(s) are automatically included as Authorized Signers. Only the business owner(s) are allowed to add or remove signers from
business accounts.
• Please note: any Authorized Signer who is an individual Navy Federal member will have his or her access to applicable Business Checking and
Savings accounts canceled if any of that Authorized Signer’s individual Navy Federal accounts is not maintained in good standing for a period in
excess of 120 days.
• Authorized Signers do not need to be in Navy Federal’s Field of Membership.
PLEASE NOTE:
In the case of an application declined after 5 business days due to incompleteness, the applicant will be required to submit a new Business
Solutions Membership Application with all required documentation.
Navy Federal limits the membership of Non-Prot entities to those that provide a direct benet or support to the U.S. Military (Active Duty or
Veteran). Non-Prots established for any other purpose are not eligible for Business Membership at Navy Federal.
Navy Federal reserves the right to refuse membership to business entities that engage in transactions and/or activities classied as “High-Risk” in
accordance with the Bank Secrecy Act (BSA) or Navy Federal’s policies and procedures.
PLEASE NOTE:
Navy Federal periodically scans all Business Members and associated accounts. If prohibited high-risk entities or transactions are detected,
Navy Federal will review the account and reserves the right to take action for immediate account restriction and/or closure.
Once your Application is approved, Navy Federal’s Business Solutions will contact you with a Welcome Package with additional information and
request further documentation, if required.
Business Solutions
Legal Name of Business Business Tax ID No.
DBA Name(s) (If applicable) Business Phone No. Alternate Phone No.
Physical Address of Business: Street
(Cannot be a post ofce box)
City State Zip Code
Mailing Address of Business: Street
(If different from above address)
City State Zip Code
List All Additional Locations of Business: Street
(If any)
City State Zip Code
Email Address (Required for online access) Website Address Date Business Established (MM/DD/YY)
Page 1 of 5
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_________________________________________
Business Access No.
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© 2020 Navy Federal NFCU 97B (4-20)
Navy Federal
®
Business Solutions Membership Application
Navy Federal reserves the right to request additional identification.
Misplace your EIN? Go to www.IRS.gov and search “Misplace Your EIN” or call 800-829-4933.
For Ofce Use Only
Business Information Please include appropriate proof of existence of your Business when mailing or bring it in with you when opening account at branch.
Ownership Afliation (Check all that apply)
Active Duty
Air Force
Retired
Army
Veteran
Coast Guard
Department of Defense
Marine Corps
Family
Navy
Other
Form of Business Legal Structure of the Business. Additional documentation may be required.
Sole Proprietorship
IRS EIN Letter (if applicable)
AND
Valid Business License /
Business Permit
OR
Valid Assumed Name, Doing
Business As or Fictitious
Name Certicate
General Partnership
IRS EIN Letter (if applicable)
Beneficial Owner Form (NFCU 98)
AND
Valid Business License /
Business Permit
OR
Valid Assumed Name, Doing
Business As or Fictitious
Name Certicate
Limited Partnership*
Good Standing Certicate (le
stamped within 60 days
before date of application)
IRS EIN Letter
Beneficial Owner Form (NFCU 98)
If Doing Business As (DBA)
Fictitious Name Certicate (OR
Certicate of Assumed Name)
*Applies to Limited Partnerships (LP), Limited Liability Partnerships (LLP), and Professional Limited Liability Partnerships (PLLP). This does not apply to general partnerships.
Corporation**
Good Standing Certicate (le
stamped within 60 days
before date of application)
IRS EIN Letter
Beneficial Owner Form (NFCU 98)
If Doing Business As (DBA)
Fictitious Name Certicate (OR
Certicate of Assumed Name)
**Applies to S Corps and C Corps.
Limited Liability Company
Good Standing Certicate (le
stamped within 60 days
before date of application)
IRS EIN Letter
Beneficial Owner Form (NFCU 98)
If Doing Business As (DBA)
Fictitious Name Certicate (OR
Certicate of Assumed Name)
Business Details Required information. (Note – the following business types are not permitted: Money Services Business (MSB), Internet Gambling,
Marijuana-Related Services, Multi-Level Marketing Services, Adult Content Services, Auto Dealers, or other prohibited business services.)
Is your Business any of the following? (Check all that apply.)
Legal Service Provider
Real Estate
Food Services
Restaurant
Liquor Store
Convenience Store
Vending Machine Operator
Retail
Consulting
Construction
Administrative Services
Charity or Non-Governmental Organization (NGO)
Transportation
Parking Garage
Other
Business’ primary trade area (Check all that apply.)
Local Community Statewide Domestic U.S International
Purpose/type of transactions for which your Navy Federal account will be used:
Operating/General Purpose Escrow Management Savings/Investment
Do you have accounts for this Business with an institution other than Navy Federal?
Yes No
Is the internet a major source of revenue
for your Business?
Yes No
Describe the nature of your Business (Actual goods sold or service(s) provided) NAICS code
Current or Estimated annual sales/revenue
$__________________________
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If yes, where?_________________________________________
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_______________________________________________________________________
If “Yes”, please provide Business website. How many employees do you have?
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Clear
© 2020 Navy Federal NFCU 97B (4-20)
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Page 2 of 5
Deposit Amount ($100 for Sole Proprietorships, $105 for all business entities)
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Name of Owner (Of the account where the deposit is being transferred from) Navy Federal Account Number (Where deposit is being transferred from)
Name: First MI Last Sufx Access No.*
Percentage of Ownership
%
Title
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Name: First MI Last Sufx Access No.*
Percentage of Ownership
%
Title
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Name: First MI Last Sufx Access No.*
Percentage of Ownership
%
Title
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Name: First MI Last Sufx Access No.*
Percentage of Ownership
%
Title
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Entity Name Access No.*
Business Tax ID No. Percentage of Ownership
%
Entity Name Access No.*
Business Tax ID No. Percentage of Ownership
%
*Navy Federal Consumer membership is required as a condition of applying for Business membership.
Business Products and Services Please indicate the account(s) you are interested in establishing. Please note that fees may apply to the Basic, Plus,
and Premium checking accounts. Refer to the Business Solutions Schedule of Fees and Charges for more information.
Membership Savings Account*
Savings Account
Basic Checking (Owner and 1 signer allowed)
Plus Checking (Unlimited signers)
Premium Checking (Unlimited signers)
Money Market Savings Account
Jumbo Money Market Savings Account
*A Business Membership Savings Account (with minimum deposit of $5) is required for all limited partnerships, LLCs, and corporations.
Funding Requirement for New Business Memberships
Deposit Source (Check one)
Cash/Check
I
nternal Account Transfer Debit or Credit Card
Owner 1
Issue Business Debit Card?
Yes No
Owner 2
Issue Business Debit Card?
Yes No
Owner 3
Issue Business Debit Card?
Yes No
Owner 4
Issue Business Debit Card?
Yes No
Entity Owner 1
Entity Owner 2
© 2020 Navy Federal NFCU 97B (4-20)
Signer: First MI Last Sufx
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If yes, give Access No. and no further info required Social Security No.
Date of Birth (MM/DD/YY) Driver’s License or Government ID No. or State ID No.
ID No. State
Expiration (MM/DD/YY)
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Home Phone No. Mobile Phone No. Ofce Phone No. Extension
Home Address: Street City State Zip Code
Signer: First MI Last Sufx
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If yes, give Access No. and no further info required Social Security No.
Date of Birth (MM/DD/YY) Driver’s License or Government ID No. or State ID No.
ID No. State
Expiration (MM/DD/YY)
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Home Phone No. Mobile Phone No. Ofce Phone No. Extension
Home Address: Street City State Zip Code
Signer: First MI Last Sufx
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If yes, give Access No. and no further info required Social Security No.
Date of Birth (MM/DD/YY) Driver’s License or Government ID No. or State ID No.
ID No. State
Expiration (MM/DD/YY)
□ □
Home Phone No. Mobile Phone No. Ofce Phone No. Extension
Home Address: Street City State Zip Code
Page 3 of 5
Continue on next page
Authorized Signer: Note for eForm—If yes is clicked. The Access number eld will show, and all other elds in the
section will be hidden.
In addition to the Business Owner(s), the following named person(s) is/are authorized, on behalf of the Business, to execute any
document required by Navy Federal to transact business, including to sign or endorse any order for the payment or withdrawal
of funds from the above-named applicant’s Business account(s). An Authorized Signer is not, however, authorized to apply for
credit. Only Business Owners are entitled to add and/or delete Authorized Signers. (Check the appropriate box to indicate if the
Authorized Signer is also a current Navy Federal member.)
Authorized Signer 1
Issue Business Debit Card?
Yes No
Current Member
Yes No
U.S. Citizen?
Yes No
Authorized Signer 2
Issue Business Debit Card?
Yes No
Current Member
Yes No
U.S. Citizen?
Yes No
Authorized Signer 3
Issue Business Debit Card?
Yes No
Current Member
Yes No
U.S. Citizen?
Yes No
Authorization to Link Business and Owner Consumer Accounts
I (We) authorize Navy Federal to individually link each owner’s individual
consumer account(s) to the applicant’s above-named Business account for
Mobile and Online Banking, and/or Bill Pay. I (We) understand and agree
that this will give each owner access to both the owner’s consumer account
and to the applicant’s above-named Business account(s) pursuant to the
Authorized User for Navy Federal Online Banking Application and Cons
ent
(“Ag
reement”), Form 652
, including the ability to enroll in or access Bill Pay
servi
ce, and to suppress statements, under the terms disclosed by the
Mobile Banking, Online Banking and Bill Pay T
erms and Conditions, Form
65
2A
. I (We) ackno
wledge the receipt of, have read, understand, and agree
to the Agreement. I (We) further understand and agree that I (we) accept
responsibility for safeguarding and protecting each of our password(s) and
other credentials and access device(s) used to access Online Banking in
order to prevent unauthorized access and transactions on the account(s). I
(We) further understand and agree that Navy Federal may revoke any owner’s
Online Banking access if unauthorized access or transactions occur as the
apparent result of an owner’s negligence in safeguarding access credentials
and/or an access device(s). Any owner can revoke their respective consent
at any time by calling 1-888-842-6328 or sending an eMessage from either
the owner’s business or consumer account on NFOAA. I(We) further agree
that if I am no longer an owner of the Business, then my link to the Business
account(s) may be terminated by Navy Federal upon notice from any other
remaining or new owner of the Business.
© 2020 Navy Federal NFCU 97B (4-20)
Page 4 of 5
Name: First MI Last Sufx Access Number
Name: First MI Last Sufx Access Number
Name: First MI Last Sufx Access Number
Name: First MI Last Sufx Access Number
Continue on next page
If you wish to opt out of linking your individual account to the above-named Business account, please complete the elds below:
Disclosure and Agreement
I (We) understand that this Agreement is not val
id without my (our) signature(s)
and
will not be approved for a Business Solutions membership unless
and until information and documentation is submitted and approved by
Navy Federal. The words “I,” “me,” “we,” “us,” and their possessive forms
refer to the Business Owner(s) and/or the Business entity. I (We) understand
that Navy Federal requires a $100 minimum new business membership
deposit in addition to the $5 minimum membership share for any new legal
entity Business membership. I (We) confirm that I (we) have received and
agree with the
Business Disclosure Booklet, Form 97BD.
The business owner(s) hereby represents and warrants that the purpose of
its business is to engage, for provident and productive purposes, in lawful
acts or activities for which the business entity type may be organized under
the state law where the business entity was formed.
Navy Federal reserves the right to refuse membership to business entities
that engage in transactions and/or activities classified as “High-Risk” in
accordance with the Bank Secrecy Act (BSA) or Navy Federal’s policies
and procedures (Prohibited Activity Policy). I (We) certify that I (we) do not
participate in any activity or transactions that BSA or Navy Federal deems
as prohibited, i
llegal, or possibly fraudulent. This may include, but is not
limited to:
• nancial, investment, or credit service providers (including money
services businesses (MSB) and tax preparation services that
accept deposit of client refunds);
• IP infringement, illegal products, marijuana-related services, and
online tobacco or pharmacies;
• unfair, predatory, or deceptive practices;
•
other high-risk products or services (auto dealers, adult content
services, and multi-level marketing programs);
•
deposit structuring (efforts used to avoid reporting or record-keeping
requirements);
• activity inconsistent with the stated nature of the business;
• providing suspicious and/or misleading information;
• suspicious funds transfers or ACH transactions;
• receiving deposits not in the name of the business or business
owner(s);
• any activity that could be considered suspicious, fraudulent, illegal,
dishonest, or deceptive;
• activities or actions listed in NFCU 29 Prohibited Transaction
Disclosure; and/or
• Internet Gambling Services as dened in the Unlawful Internet
Gambling Enforcement Act of 2006 and Regulation GG.
I (We) further agree that such transactions are prohibited from being
processed through the Navy Federal Business account or any relationship
with Navy Federal. I (We) also certify that I (we) do not conduct any nancial
transactions that are consistent with a Money Services Business (MSB).
As dened by the U.S. Treasury Financial Crimes Enforcement Network
(FinCEN), MSBs are high-risk deposit entities that conduct transactions that
include: Currency Dealer or Exchanger, Check Cashier, Issuer of Traveler’s
Checks (this excludes travel agencies), Issuer of Money Orders, Issuer of
Stored Value, Seller or Redeemer of Traveler’s Checks, Seller or Redeemer
of Money Orders, Seller or Redeemer of Stored Value, Money Transmitter,
and U.S. Postal Service. I (We) further understand that Navy Federal
r
eserves the right to deny or restrict any high-risk deposit entities conducting
any activity that Navy Federal deems as prohibited, illegal, high risk, or possibly
fraudulent, including, but not limited to, those transactions listed above, and
Navy Federal may block or otherwise prevent such transactions and may
close my (our) Business account and end the nancial relationship if such
transactions are detected. I (We) also understand that Navy Federal reserves
the right to terminate the business’ privileges hereunder. All cards shall be
canceled effective upon termination of this agreement, and the business shall
remain liable for all debits or other charges incurred by or arising by virtue
of business actions prior to termination. I (We) also understand that if I (we)
should decide to expand the business to include any of these prohibited
transactions, I (we) will notify Navy Federal in advance of such change.
I (We) further agree that all transactions will be limited to and for the benet of
the Business entity and that no personal account activity will be conducted
through the Business entity account(s).
Certain ongoing responsibilities attach to Navy Federal Business
membership. I (We) understand and agree that all of my (our) Consumer
account(s) at Navy Federal held by all Business Owners must be and
remain in good standing; and further that the failure of any Business
Owner to maintain this status for their Consumer account(s) may result
in the restriction or closure of the associated Business account(s) if
the Consumer account(s) do not meet the good standing requirement
for more than 120 days. I (We) agree to abide by the properly disclosed terms
and conditions of all business accounts and services that I (we) may hold
and/or receive at Navy Federal. These terms and conditions will be disclosed
in accordance with applicable state and federal laws. I (We) agree to accept
communications from Navy Federal, including account statements, at
the mailing address I (we) have provided in the “Business Information”
section of this application. I (We) also agree to notify Navy Federal of any
change to this address. To help ght the funding of terrorism and money
laundering activities, federal law requires all nancial institutions to obtain,
verify, and record information that identies each person who opens
an account, including all Business Owners. What this means for me
(us): When I (we) open an account, Navy Federal will ask me (us) for my
(our) name(s), address(es), date(s) of birth, and other information that will
allow Navy Federal to identify me (us). Navy Federal may also ask to see my
(our) driver’s license(s) or other identifying documents.
If Navy Federal believes there is a conict amongst the account owners,
Navy Federal has the right to temporarily halt any activity on the account until
such conict is resolved to its satisfaction, and I (we) agree to hold Navy Federal
harmless for any resulting consequences. Navy Federal reserves the right to
close this Business membership if any of the information or documentation
provided is found to be inaccurate or misleading or if it is discovered that the
activity on the account is not as generally
described in Business Details.
E
scheatment. I (We) acknowledge that property may be transferred to the
appropriate state (escheated) if there has been no activity within the time
period specied by state law.
Statutory Lien. I (We) acknowledge on behalf of myself (ourselves) and the
Business member that Navy Federal has the right to enforce a statutory
lien against the shares and dividends on deposit in all joint and individual
consumer and Business accounts, and any monies held by Navy Federal
now and in the future, owned by the Business member or any Owner(s), to
the extent of any outstanding nancial obligation of the Business member
to Navy Federal, as that amount varies from time to time. Navy Federal’s
statutory lien may be enforced without further notice to the Owner(s) or
Business member for the Business’ nancial obligation. The statutory lien
does not apply to shares in any individual retirement account (IRA).
Representative for Entity Owner 1 Signature
Representative for Entity Owner 2 Signature
Page 5 of 5
Owner 1 Signature
▸
Printed Name Date (MM/DD/YY)
Owner 2 Signature
▸
Printed Name Date (MM/DD/YY)
Owner 3 Signature
▸
Printed Name Date (MM/DD/YY)
Owner 4 Signature
▸
Printed Name Date (MM/DD/YY)
▸
Printed Name Date (MM/DD/YY)
Name of Entity Owner 1
Title
▸
Printed Name Date (MM/DD/YY)
Name of Entity Owner 2
Title
Authorized Signer 1 Signature
▸
Printed Name Date (MM/DD/YY)
Authorized Signer 2 Signature
▸
Printed Name Date (MM/DD/YY)
Authorized Signer 3 Signature
▸
Printed Name Date (MM/DD/YY)
Business Entity’s Company Name
________ _________________________ ________
Signature of Secretary, Managing Member, or Other Authorized Ofcer
▸
Access Number
Disclosure and Agreement Continued
© 2020 Navy Federal NFCU 97B (4-20)
Security Interest. I (We) acknowledge and pledge on behalf of myself
(ourselves) and the Business member to Navy Federal a security interest in
all individual and joint consumer and Business share accounts at
Navy Federal owned by the Business member or any Owner(s), and
in the collateral securing loan(s), if any, that the Business entity has
with Navy Federal now and in the future, including any type of change
or increase, and any proceeds from the sale of such collateral and of
insurance thereon, not to exceed the unpaid balance of any loan made to
and any charges payable by the Business member. This security interest
in collateral securing other loans does not apply to any loans(s) that may
be secured or guaranteed by my (our) personal primary residence(s),
unless specied to the contrary.
By signing below, I (we) agree that I (we) have received, read, and agree to all disclosures contained in or referenced by this application and the Account
Application Package.
Resolution of Corporation, Limited Liability Company, Limited Partnership, or Other Legal Entity
Please complete company name, date, and sign below.
Resolved, that the funds of the above-named business entity (“Company”)
are hereby authorized to be paid into the Company’s Navy Federal business
account(s) upon Navy Federal’s approval of this Business Solutions
Membership Application submitted to Navy Federal by the Company, and
Navy Federal is hereby authorized to pay withdrawals signed in the name
of the Company by any person whose signature appears as an Authorized
Signer. Navy Federal further is authorized to accept pledges of all or any
part of the account(s) as security for any loan made by Navy Federal to the
Company, which shall be executed in the name of the Company by any of
the signatories. Navy Federal is authorized to supply any endorsement for the
Company and any signatory on any check or other instrument tendered for
the account(s), Navy Federal is hereby relieved of any liability in connection
with the collection of such items that are handled by Navy Federal without
negligence, and Navy Federal shall not be liable to Company for the acts of
Navy Federal’s agents, subagents, or others or for any casualty. Withdrawals
may not be made on account of such items until collected; any amount
not collected may be charged back to said account(s), including expenses
incurred, and any other outside expenses relative to the account(s) may
be charged to the Company. The Authorized Signers are identied on this
Membership Application. I certify that I am the duly elected, qualied, and
acting Secretary, Managing Member, or other authorized ofcer, as the case
may be, of the Company, and that the foregoing is a true and correct copy
of a resolution adopted by the Company at a regular or duly called special
meeting at which a quorum was present, that the resolution is recorded in
the Company’s minutes, that the Company is authorized to take such action,
and that the signatures contained in this document are the true signatures of
the persons authorized to sign as indicated in connection with the account(s).
I further certify that I am a member of Navy Federal Credit Union.
This day of , 20
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97B Business Solutions Membership Application

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Completed 8 June 2020

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