Business Accounts and Commercial Loans - Fort Knox Federal Credit Union

Business Accounts header

If you are interested in opening a business account contact your local branch.

All business account types being opened will require photo ID and Social Security Number card at time of opening.

You will need to provide the following documents at account opening:

Sole Proprietorship or DBA

• Letter from the IRS with tax ID number.
• Copy of your Business License

Non-Profit Organization

• Letter from the IRS with tax ID number.
• Articles of Incorporation (if available)


• Letter from the IRS with tax ID number.
• Articles of Incorporation (if available)

Limited Liability Company (LLC)

• Letter from the IRS with tax ID number.
• Articles of Incorporation (if available)

Associations with EIN

• Letter from the IRS with tax ID number.
• Articles of Incorporation (if available)

All owners on the account must sign a Signature Card, Business Depository Resolution Document and Internet Gambling Certification. Documents can be signed at account opening or provide these documents at the branch pre-signed and notarized. All owners still need to be present at account opening to verify identity. If you have questions about this option, please call us.

View Rates

A Fort Knox Federal business savings account is the first step to becoming a member-owner of Fort Knox Federal Credit Union.

• Federally insured by NCUA
• Convenient account access
• $5 deposit minimum
• No maximum balance limit

You can access your account through:

Phone Facts
• Convenient branch location

With a business checking account you get:

• No required minimum balance
• No monthly fee
• Non-interest bearing
• FREE Text Alerts 1 with P.A.M.
• FREE Phone Facts
• FREE ATMs Worldwide 2
• FREE BillPay for first 10 transactions per month then 35¢ per transaction
• FREE copies of checks online
• FREE Notary Service
• FREE internet banking with e-statement
• 200 transaction items FREE each month then 35¢ per transaction

Here’s a Tip: 
Use your check card as a ‘credit’ instead of 'debit' when making purchases and avoid transaction fees.  Use your Fort Knox Federal Check Card fee free!

1 Wireless carrier fees may apply.
2 Up to four ATM fee rebates per month and free ATM withdrawals from any Fort Knox Federal Credit Union Branch ATM.

Earn higher yields than with a regular business savings account while keeping your funds readily accessible.

• No minimum balance 1
• No monthly service charge 1
• Minimum balance to earn dividends: $1,000
• Greater interest rates with higher deposits
• Free online access

View RatesFAQ

Question:  What is a MMA (Money Market Account)? 

Answer:  It is a type of share savings account where very little account activity is expected and is normally controlled by assessing fees for excessive activity and/or for falling below the required minimum balance of $1,000.  The two key features of this account versus a regular savings account is the added dividend earning potential and the capability to write checks from that account even though it is a special share account.  It is commonly referred to as a Money Market Account.

Question:  How many withdrawals/transfers may I make from this account? 

Answer:  You may make six (6) per month as limited by Federal law and regulation.  Included are transfers to third parties by means of a preauthorized, automatic, telephonic, home banking or audio response transfer or instruction. Exempt are transfers/withdrawals made in person.  If you exceed the limit on preauthorized and automatic withdrawals/transfers, you will be assessed $12 fee for each occurrence.  If you continually exceed the monthly transaction limit, your MMA may be closed as prescribed by law and regulation.

Question:  Do I need special checks to access this account? 

Answer:  Yes.  Checks should be ordered when this account is opened.

Question:  May this account be used for overdraft protection? 

Answer: No.

Question:  May I set up online bill payment from this account?

Answer:    No.

Question:   May I use my check card on this account?

Answer:  No

Question:  If my account is assessed a fee for failure to maintain required balance or for excessive withdrawals and my account starts the new dividend period below minimum balance requirement, will I be assessed a fee? 

Answer:  Yes, you need to make sure your minimum balance is always at or above the minimum balance required of $1,000.  Example: Your balance falls to $500 on October 15, and you make a deposit of $520 on October 30 to bring your balance up to $1,020.  You are assessed a $10.00 minimum balance fee and $12.00 in excess withdrawal fees on October 31 so that your balance declines to $998.00 on October 31.  You did not make another deposit before the fees were assessed on October 31.  So, your beginning balance on November 1 is $998.00 and you will be assessed a $10.00 minimum balance fee on November 30. 

1 Money Market- Rates are variable and may be changed or discontinued at any time. Dividends paid and compounded monthly on Money Market Accounts. To avoid transaction fees, a maximum of six (6) withdrawals or transfers are allowed per month. If balance falls below $1,000 at any time, a fee is assessed (one $10 fee during calendar month). All accounts federally insured by NCUA up to $250,000.
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Current Business Certificate Specials
22 Month - 3.05% APY 1
14 Month - 2.75% APY 1

Business Certificate Rates
59 Month - 2.60% APY 1
48 Month - 2.25% APY 1
36 Month - 1.40% APY 1
30 Month - 1.25% APY 1
24 Month - 1.20% APY 1
18 Month - 1.15% APY 1
12 Month - 0.80% APY 1
6 Month - 0.65% APY 1
3 Month - 0.35% APY 1

1 Annual Percentage Yield. Certificates-$500.00 minimum deposit. Dividends paid and compounded quarterly. Dividend may be paid monthly for account balances $10,000.00 or higher (Excludes 22 month and 35 month certificates). Rates may be changed or discontinued at any time; call your local branch for current rates. Fees and/or withdrawals will reduce earnings. When opening a certificate the member has agreed to leave the principal of this account on deposit for the full term stated in the account or renewal notice. If all or part of the principal is withdrawn before the maturity date, the Credit Union may charge a penalty. Withdrawal of the principal amount of the certificate may be made only with the consent of the Credit Union. Unless stated otherwise, the owner shall forfeit an amount equal to 90 days dividends, whether earned or not, on certificates with maturities between 3 months and 24 months; 180 days dividends, whether earned or not, on certificates with maturities between 30 and 48 months; 365 days dividends, whether earned or not, on 59 months certificates. The penalty may be calculated at the rate paid on the deposit. The penalty will, if necessary, be taken from the principal amount of the deposit.
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