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Business Services

Cedar Point Federal Credit Union offers business accounts for all needs, from a corporation to an individual selling catalogs in the living room. While the rate and fee structure is similar to our individual accounts, there are some differences. Please be sure to read the appropriate disclosures.

Here are a few quick links for our existing business members:

 

Eligible Businesses

Businesses are eligible to open an account at Cedar Point Federal Credit Union if they regularly conduct business in St. Mary's, Calvert or Charles Counties in Maryland. Please see a Member Service Representative to get started.

In order to open a business account, we must have documentation to verify who has the authority to establish an account. Following is a list of appropriate documents depending on your type of business:

Corporations

  • Articles of incorporation
  • business license
  • tax identification. 

In addition, we need one of the items listed below in order to designate authority to transact business:

  • Letter of instruction stating who is designated to act on behalf of the corporation signed by the person of authority
  • Minutes, signed and dated

Limited Liability Company

  • Articles of organization
  • business license
  • tax identification
  • operating agreements

In addition, we need one of the items listed below to designate or change authority to transact business

  • Letter of instruction stating who is designated to act on behalf of the corporation signed by the person of authority
  • Minutes, signed and dated

Partnerships

Partnership agreement, business license and tax identification. To designate or change authority to transact business a letter of instruction signed as stated in the partnership agreement.

Clubs

Signed and dated charter, bylaws and minutes from the last held meeting appointing those entities as specified in the organization bylaws or other equivalent club documents. Tax ID if available. All members associated with the club must fit into our field of membership. To designate or change authority to transact business, a letter of instruction signed by an authorized individual. In the absence of this signatory on account we will accept a letter from a person in position of authority.

Associations/Organizations

Signed and dated charter, bylaws and minutes from the last held meeting appointing those entities as specified in the organization bylaws. To make any changes, we need one of the following: a letter of instruction signed by existing account holders and signatories on account stating who is designated to act on behalf of the corporation.

Sole proprietor using a tax id other than own SSN#

Trade name document, business license, and tax identification, or other supporting documentation.

Member accepting payments on behalf of a larger company

Who do we mean? Examples of a member accepting payments on behalf of a larger company are Mary Kay, Tupperware, or March of Dimes. For this we need a letter or contract from the actual business owner indicating authorization to transact business under that name.

Benefits of Becoming a Business Member

In today’s environment it’s more difficult than ever to satisfy customers, retain quality personnel, stay ahead of the competition and earn a profit.

Cedar Point can help you understand the many benefit plan options available so you or your key employees can have the income at retirement you deserve. We can assist you in planning and implementing a strategy to help ensure that your business, and the people whose incomes and lives depend upon it, can succeed when you are no longer at the helm. Additionally, we can provide counseling and planning services to help assure that what you have worked so hard to develop – for your business, your employees, and your family – has the best chance to thrive.

Learn More

Heartland Payment Systems

Cedar Point Federal Credit Union and Heartland Payments Systems have partnered to offer you a comprehensive suite of financial solutions, all under one roof. From business checking accounts to card processing, payroll processing and more, our flexible solutions provide the highest standards. Plus, we handle the installation, training and service, so you can dedicate your resources to the aspects of your business that need them most.

Cedar Point Federal Credit Union and Heartland Payments Systems have partnered to offer you credit and debit card processing on state-of-the-art platforms, E3TM End-to-End Encryption technology that secures transactions and helps to ensure PCI compliance, full service payroll processing, including tax liability and reporting, through a single point of contact, local servicing personnel and 24/7/365 US-based support. Call 301-863-7071, ext. 8463 for more information.

Heartland offers these value-added solutions:

  • Credit and debit card processing on state-of-the-art platforms
  • E3TM End-to-End Encryption technology that secures transactions and helps to ensure PCI compliance
  • Full service payroll processing, including tax liability and reporting, through a single point of contact
  • Award-winning service organization that includes local servicing personnel and 24/7/365 US-based support

 

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