Getting Started

At Members Exchange, your business is our business. We focus on developing lasting relationships with our business members. When you are ready to open a business account, please print out a list of required documents according to your business type.

Accounts:

BUSINESS PRIMARY SAVINGS – The first business account you open at Members Exchange is a primary savings account. Your initial deposit of $1.00 will remain in your business account as long as you are a member.

  • Establishes your Credit Union membership
  • Maintains your rights and privileges as a Credit Union business member
  • Ensures your eligibility to apply for all Credit Union business products and services

BUSINESS MONEY MARKET – Once your business savings account has been established, you then have the option of adding additional services. Maintain the liquidity of your deposits and realize a higher return with our business money market account.

  • Maximize interest earnings on liquid deposits without time restrictions
  • Tiered interest pays higher rates on larger balances
  • Money Market – minimum opening deposit of $2,500.00

SHARE CERTIFICATES – Lock in a fixed interest rate for a specified period of time and earn the highest rate of return on your investments. See our current rates for more information.

  • High return on your investment
  • $500 minimum deposit
  • Terms up to 5 years

e-BUSINESS CHECKING – Members Exchange offers the ultimate checking account to meet your business needs requiring only a $50 deposit to open.

Minimum Deposit to Open $50
Monthly Service Fee $10
Checks/Debit Items Cleared Free per Month 100
Per Check/Debit Fee Thereafter *ACH (Electronic) Transactions are Free 25¢
Per Deposit Items Free per Month 100
Per Deposit Item Fee Thereafter *ACH (Electronic) Transactions are Free 25¢
Cash Management (Sweep) Transfers Free per Month 10
Per (Sweep) Transfer Fee Thereafter $10
Earns Dividends Yes
Minimum Average Balance to earn APY $1,000

*To avoid monthly service fees, e-Business Checking Accounts must maintain an average daily balance of $1,000.00.

Click Here for a full list of fees associated with a Business Account.

BUSINESS ELECTRONIC SERVICES:

Debit Card Free
Internet Banking Free
Mobile Banking Free
Telephone Banking Free
e-Statements Free (paper statements cost $5.00/month)
BizPay (online Bill Pay) $18.95/month first 6 mos. free

HELPFUL WEBSITES:

Mississippi Secretary of State

MS Business Formation – Information to help you start your business. Business entities include Corporations, Limited Liability Companies, Partnerships, etc..)

MS Forms and Filing Fees

Internal Revenue Service

Employer Identification Numbers (EIN) – An Employer Identification Number (EIN) is also known as a Federal Tax Identification Number, and is used to identify a business entity. Generally, businesses need an EIN. You may apply for an EIN in various ways, and now you may apply online through IRS. This is a free service offered by the Internal Revenue Service.

IRS – Tax Information for Businesses – Business topics include starting and closing a business, small business events, employment taxes, small business forms and publications, etc…

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