SeaComm Federal Credit Union's Business Accounts provide a variety of unique, simple and cost-effective ways to manage your business finances.
Business Share (Savings) Accounts
Entitles your business to membership with the credit union.
Business Share Draft (Checking) Accounts
Our economical business checking account offers:
• No minimum balance requirement
• No monthly fee if $5,000 balance is maintained
• Cleared checks available on CD monthly or with monthly statements
• Merchant Deposit Program for VISA®, MasterCard®, American Express® and Discover®
• We'll buy back your remaining checks from another institution
• Return of deposited items fee reduced with an average daily balance
Business Deposit Accounts
If your objective is to maintain higher balance earnings with quick access when you need it, the DMA (Daily Money Account) may be the right choice for you.
• Earns higher yield than savings
• Keeps your money accessible
• You need only $2,500 to open and maintain the DMA
• Dividends are calculated on your daily balance and paid monthly
If you prefer to deposit funds for a longer term to optimize dividends, a SeaComm Certificate will provide an excellent way to maximize dividends while investing funds for a fixed period of time.
Private pension plans represent an attractive way of supplementing
Social Security. Simplified
Employee Pensions, or SEPs, give employers an easy way of providing retirement
income for themselves and their employees.
A SeaComm Health Savings Account (HSA)
allows a person covered by an HDHP to make tax-deductible contributions, accumulate earnings on a tax-deferred basis, and withdraw money tax free to pay for out-of-pocket qualified medical expenses including deductibles.
To open a Business Account simply visit your local branch.
SeaComm Federal Credit Union's commercial loans are developed with the local community in mind. We understand the benefits and the challenges of doing business in our area and
have designed an array of loan options to meet your business
Commercial Real Estate Loans
If you are looking to purchase, expand and/or develop business
properties, a SeaComm Federal Credit Union commercial real estate
loan is the perfect choice.
Short Term Business Notes
Helps to support existing members with short term needs such as
assisting with cash flow or as a temporary bridge loan until permanent
financing is in place.
Lines of Credit
Use to supplement working capital needs, to take advantage of
supplier discounts or as coverage until your accounts receivable can
be collected. Provides you with business capital whenever and wherever
you need it!
Business Term Loans
Term loans are determined by the life of the asset financed. Use to
purchase vehicles, machinery or equipment for your business.
Business Visa® Credit Cards
A Visa® Credit Card offers your business convenience and flexibility.
Use it to purchase the goods and services you deem necessary to
run your business.
For more information, or to schedule a meeting to discuss financial
goals for your business, contact a Financial Service Representative
SeaComm Federal Credit Union believes that time is money!
As a member, you can save both when you access your accounts at
NetTeller™ and take advantage of SeaComm's free electronic
bill payment service. With NetTeller™, all you need is an Internet
connection and a personal identification number (PIN) to access your
business account 24/7. Contact any SeaComm branch location to get
your PIN and stay in touch with your money.
With NetTeller™ you can:
- View account balances
- Find out which checks have cleared your account
- Review current account history
- Download account history to Quicken®
- Make SeaComm loan and credit card payments
- Transfer funds between your SeaComm accounts
- Update your mailing address
Electronic Bill Pay
SeaComm's bill pay option is convenient and easy! You can pay bills right
from your computer 24 hours a day, with just a few mouse clicks or even
automatically, giving you better control over your business finances.
As a SeaComm member with electronic bill pay, you can:
- Schedule payments and manage accounts based on payment due dates
- Schedule payments in advance
- Pay multiple bills from one screen
- Schedule regular payments to be issued automatically
- Review pending payments and payment history
- E-mail SeaComm with questionsl
To sign up for electronic bill payment or to learn more, simply contact
a Financial Service Representative at 1-800-764-0566 or stop in at any
Security is high on the list of most members' concerns. You can rest assured that your transactions on NetTeller™ and through SeaComm's electronic bill payment system are safe. The system uses state-of-the-art 128-bit
encryption, the highest level of protection possible for all Internet communications. You can manage your
accounts and pay your bills for free with confidence.
SeaComm Federal Credit Union's Business Services offer
you an easy, cost-effective way to assist your business in processing
all the major credit and debit cards you choose to accept.
SeaComm has partnered with Payment Processing DIRECT (PPD) to
provide terminal-based support, PQS system expertise and payment
processing options from a variety of service providers and
PPD has created a national network of knowledgeable card
payment specialists that combine the benefits of experience with the
convenience of quick local service. You will get a reliable, fast, flexible
and affordable way to accept card payments from your customers that is tailored to your current business needs with future growth In mind.
Merchant benefits include:
- Personal support from a national company
- Accept all major credit cards; debit/ ATM
- Check verification and guarantee;
gift card programs
- Customized processing options to fit
your business needs
- Online account management and reporting programs
- Compatibility testing
- Competitive pricing
- Security - Industry-leading fraud
and loss protection
- ACH check processing
- 24/7/365 Help Desk
For more information contact a Financial Service Representative
at 1-800-764-0566, or stop in at anyone of our conveniently located
At SeaComm Federal Credit Union, we understand your
time is precious. That's why we provide a variety of services that allow you
to focus your time and energy on managing and growing your business.
• Business debit and credit cards
• Free online account access
(NetTeller™) with e-Statements
• Free bill pay
• 24-hour SmartLine access
• Convenient ATM and night
• Ability to download transaction
history to Quicken®
• And many more benefits!
For more information contact a Financial Service Representative at
1-800-764-0566, visit us online at www.seacomm.org, or stop in at any
one of our conveniently located SeaComm offices.
Getting a Member Business loan for your business can seem somewhat confusing and frustrating if you are not prepared. In an effort to make the process easier the following are some steps that will help both your business and the Lender.
STEP ONE: Provide your credit union representative with a thorough, organized, and well supported loan proposal. Many small businesses, especially first time borrowers and DBA’s fail to prepare a formal loan proposal. Try to avoid that. The loan proposal along with a cover letter and supporting documentation gives you a chance to explain your request clearly and thoroughly.
STEP TWO: Apply early so that the lender can see that you are planning and not reacting. If you wait until the last minute, you are likely to leave out necessary information and you will appear disorganized and unfocused. Your initial meeting with the lender speaks volumes regarding your ability to be successful and be a strong loan candidate.
STEP THREE: Be prepared to present detailed, well-supported answers to the following questions:
- How much money do you need?
- For what purpose?
- How long do you need the funds for?
- What is your source of repayment?
- What collateral can you put up and what is the value of it?
STEP FOUR: With respect to your business (existing business) you will need to provide the last three years of accountant prepared financial statements or business tax returns, your last three years of personal tax returns, and a Personal Financial Statement. If you are a new business then the last three years of your personal tax returns along with a Personal Financial Statement and your Business Plan. The Small Business Development Center can assist both new borrowers, and seasoned business owners with the Business Plan. The Small Business Development Center is located on the campus of SUNY Canton. The phone number is 315-386-7312.