SeaComm Federal Credit Union's Buisness 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 of $5,000

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.

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 borrowing needs.

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 at 1-800-764-0566.

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 SeaComm location.

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 technological companies.

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.

For more information contact a Financial Service Representative at 1-800-764-0566, or stop in at anyone of our conveniently located SeaComm offices.

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 deposit locations
• 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: 

1. How much money do you need? 
2. For what purpose? 
3. How long do you need the funds for? 
4. What is your source of repayment? 
5. 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.