UNION SETTLEMENT FEDERAL CREDIT UNION
                
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SERVICES FOR BUSINESSES
AND ORGANIZATIONS

With our business services we mean business!
With Union Settlement FCU, you will find solutions to your business and organization's needs.

Business Savings and Checking
Open a business savings account with as little as $30.00*, and experience the benefit of Union Settlement Federal Credit Union Business Services.

You must have a Business Share (savings) account first to open a Business Share Draft (checking) account.

With a deposit of $50.00*, you can open a business checking account. With your checking account you get free automatic debits & credits, free overdraft offered on checking accounts, and no limit on the number of checks you write. (Monthly fee of $4.00 is waived if $100 minimum is maintained in savings account).

Qualify for additional credit union services such as direct deposit of payroll check for employees and convenient business credit card.

Access your account by calling our 24hr Audio Teller at 212.828.0340.

*Not available for withdrawal.


Business Loans - Small Business and Microenterprise

Union Settlement Federal Credit Union is a proud participant
in the SBA's 7(a) Guaranteed Loan Program
We offer small business loans and microenterprise loans for up to 12 years to entrepreneurs interested in starting or expanding their business. We offer loans for Fixed Asset Acquisition or Improvement, i.e. machinery, equipment or real estate, and Permanent Working Capital for growing businesses. Microenterprise businesses are defined as a small-scale, often home-based, retail or service operation with relatively small capital needs.

Microenterprise Loans from $500 to $15,000
Small Business are defined as: sole-proprietorships, partnerships and corporations, and include businesses involved in: retail, service, wholesale, and light manufacturing. Additionally, we offer building loans to owner/occupants of small residential properties, i.e. those that house cooperative apartments.

Small Business Loans $15,001 - $49,999
We also offer Member Business Loans of $50,000 and UP





Download the business loan application.
Established businesses.
In order to apply, provide the following:
  • Completed loan application
  • Business Certificate (Sole Proprietor, Partnership or Certificate of incorporation)
  • Employment ID Number
  • Sales tax ID Number
  • Copy of business lease (if applicable)
  • 3 years of business tax returns and bank statements
  • Copy of Fire and Liability Insurance
  • If corporation, Board resolution granting authority to borrow
Additional documentation may be required.
Start-up businesses. In order to apply, provide the following:
  • Business plan
  • Owners' photo ID and proof of address
  • Owners' financial information, including personal income tax returns and bank statements for the last two years
  • Prior business-related experience
  • References from banks, individuals, and/or other businesses
  • Social Security Number or individual Tax ID Number (ITIN)
Download the business loan application.
Membership is required before submitting a loan application.
For more information, contact us.


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