Why become a member?

It’s because of the difference between banks and credit unions.

As a credit union, Allegacy is a not-for-profit cooperative. Other financial institutions are owned by shareholders, but when you join Allegacy, you become a member — an owner.

Opening a share account is the first step, and below you’ll find information on how your business can join Allegacy. We will always do the right thing for your wellbeing. That’s our promise. It’s the common thread that runs through everything we do here at Allegacy. And as a member, you will see us deliver on that promise by serving, by caring, by helping you build your financial footing, supporting our entire community as we work together on those goals.

There are three ways to become a business member.

  1. At least one principal contact needs to be a member or the business will need to join through an association. Learn more »
  2. If at least one principal contact joins and the Business becomes a Select Employee Group (SEG), the business can join for free.
  3. If all business owners become members of Allegacy, the business can join for free.

Required Documentation According to Business Type:

Collect this information before your appointment with a Small Business Specialist.

Membership Eligibility:

The Sole Proprietor MUST be a member in his own right

Documentation: In Addition to Business Account Package/Individual Profiles and color copies of Drivers’ License for all Principal Contacts and Signatories.

  • Completed Business Account Card
  • Certificate of Assumed Name (needed if the business entity does not include the surname of the owner)
  • Valid Social Security/Employer Identification Number
  • Color copy of driver’s license

Membership Eligibility:

All partners are within the field of membership OR
Partnership is a business member of a qualifying association OR
Partnership is an Allegacy approved SEG

AND At least one Principal Contact must be a member in his/her own right

Documentation: In Addition to Business Account Package/Individual Profiles and color copies of Drivers’ License for all Principal Contacts and Signatories.

  • Completed Business Account Card
  • EIN Certification
  • Identifying information for each Principal Contact
  • Color copy of driver’s license

 

Documentation: In Addition to Business Account Package/Individual Profiles and color copies of Drivers’ License for all Principal Contacts and Signatories.

  • Completed Business Account Card
  • EIN Certification
  • Identifying information for each Principal Contact
  • Color copy of driver’s license
  • Copy of the partnership agreement

Documentation: In Addition to Business Account Package/Individual Profiles and color copies of Drivers’ License for all Principal Contacts and Signatories.

  • Completed Business Account Card
  • EIN Certification
  • Identifying information for each Principal Contact
  • Color copy of driver’s license
  • Copy of the Certificate of Limited Partnership

Documentation: In Addition to Business Account Package/Individual Profiles and color copies of Drivers’ License for all Principal Contacts and Signatories.

  • Completed Business Account Card
  • EIN Certification
  • Identifying information for each Principal Contact
  • Color copy of driver’s license
  • Copy of the registration filed with the North Carolina Secretary of State

Documentation: In Addition to Business Account Package/Individual Profiles and color copies of Drivers’ License for all Principal Contacts and Signatories.

  • Completed Business Account Card
  • EIN Certification
  • Identifying information for each Principal Contact
  • Color copy of driver’s license
  • Copy of the Joint Venture Agreement

Membership Eligibility:

All members or managers are within the field of membership OR LLC is a business member of qualifying association OR LLC is an Allegacy approved SEG

AND at least one Principal Contact must be a member in his/her own right.

Documentation: In Addition to Business Account Package/Individual Profiles and color copies of Drivers’ License for all Principal Contacts and Signatories.

  • Completed Business Account Card
  • EIN Certification
  • Copy of Operating Agreement & Articles of Organization
  • Color copy of driver’s license

Membership Eligibility:

All shareholders are within the field of membership OR Corporation is a business of qualifying association OR Corporation is an Allegacy approved SEG

AND at least one Principal Contact must be a member in his/her own right.

Documentation: In Addition to Business Account Package/Individual Profiles and color copies of Drivers’ License for all Principal Contacts and Signatories.

  • Completed Business Account Card
  • EIN Certification
  • Copy of Articles of Incorporation
  • Color copy of driver’s license

Membership Eligibility:

All members of the association are within the field of membership OR Association is a business member qualifying Association OR is an Allegacy approved SEG

AND at least one Principal Contact must be a member in his/her own right.

Documentation: In Addition to Business Account Package/Individual Profiles and color copies of Drivers’ License for all Principal Contacts and Signatories.

  • Completed Business Account Card
  • EIN Certification
  • Copy of Bylaws or Charter
  • Color copy of driver’s license

Membership Eligibility:

All members or managers are within the field of membership OR Company is a business member of qualifying association OR Company is an Allegacy approved SEG

AND at least one Principal Contact must be a member in his/her own right.

Documentation: In Addition to Business Account Package/Individual Profiles and color copies of Drivers’ License for all Principal Contacts and Signatories.

  • Completed Business Account Card
  • EIN Certification
  • Letter on their letterhead stating what the account is for
  • Bylaw Page showing who is eligible to open account