Member Business Account™ FAQs

Q: Why is Alabama Credit Union now offering these accounts?
A: Because our members have requested it. For many years, members have placed their personal accounts at their not-for-profit credit union, but were forced to place their small business account elsewhere. Now, we’re available to help members save money and time on their small business account, too.

Q: Do I have to be a member to open a Member Business Accountsm?
A: No. If your place of business is in Baldwin, Blount, Cullman, Fayette, Hale, Jefferson, Madison, Marion, Mobile, Morgan or Tuscaloosa County, it is eligible to become a member of Alabama Credit Union.

Q: Does this mean my business is a member of the credit union?
A: Yes, and is entitled to one vote at our annual membership meeting.

Q: What advantages does Alabama Credit Union offer?
A: Competitive pricing on account fees, and extraordinary member service. Plus, a growing suite of products and services tailored for small businesses.

Q: What products and services are available now as part of the Member Business Account™ package?
A:

  • ACUiBranch® – secure Internet account access that allows inquiries, transfers, downloads into popular software programs, and more
  • Bill-Pay and Bill-Presentment – safe and secure online, automated, and convenient bill payment and bill-receiving service
  • Biz Basics Checking – a free checking account recommended for businesses with up to five employees, and for non-profit organizations
  • Biz Manager Checking – a checking account for those needing more transaction limits, all for a modest fee. Recommended for businesses with up to 25 employees
  • Call24 – toll-free 24-hour automated audio response service that permits account inquiries and transfers with secure PIN
  • Coin sorter/counter – equipment available at some Alabama CU branches to allow you to quickly and inexpensively count and deposit coinage
  • Credit Card Merchant Services – a low-cost system that allows you to process credit card transactions (VISA, MasterCard, Discover, and American Express) at your point of sale
  • E-statements – fast, convenient monthly account statements available through a secure Web site. We’ll send an e-mail with a link to your statement.
  • Overdraft Privilege – a courtesy program that permits your account’s NSF items to be paid, up to a specified limit, and subject to conditions
  • VISA ATM/Debit Card – a card that works like writing a check from your Member Business Account
  • VISA Credit Card – a credit card that is available to small businesses when personally guaranteed by the business owner(s) and/or authorized officer(s)

 

Q: What other products and services are available?
A: Many more:

  • Payroll services
  • Human resource administration solutions
  • Small business loans
  • Group health, life and disability insurance
  • Small business property, casualty, and liability insurance
  • Workman’s compensation insurance and administration
  • ACH origination
    Learn more here at our provider Newtek's site.

Q: Are my business’s funds federally insured?
A: Yes, up to $250,000 by the National Credit Union Administration (visit www.ncua.gov). In addition, your Member Business Account™ is privately insured up to $250,000 by American Share Insurance (visit www.americanshare.com). Depending on your business’s ownership structure, these insurance protections are in addition to those in place for your personal account(s).

Q: Must I wait in line when I make a deposit for my Member Business Accountsm?
A: Perhaps, but only if our lobby is quite busy. If you visit inside our office, we’ll accept your deposit, issue a provisional receipt, and advise you of any corrections to your deposit later. You may also visit our drive-up windows, or use our night depositories (not available at all branches). And, you can have employees drop off and pick up night deposit bags (they’ll be asked to sign our control log).

Q: Can’t I deal with just one person about my account?
A: Probably so. We’ll introduce you to our Member Business Accountsm department. Quickly, we’ll learn more about your business’s needs, trends, and preferences. We invite you to contact your MBA representative whenever you have a question, suggestion, or comment.

 









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Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. Your savings are additionally insured to $250,000 by Excess Share Insurance. To estimate your National Credit Union Share Insurance Fund coverage, use this insurance estimator or download NCUA's Your Insured Funds brochure. Alabama Credit Union does business in accordance with the Equal Credit Opportunity Act and the Federal Fair Housing Law. We are an Equal Housing Lender. Rates expressed as Annual Percentage Rate or Annual Percentage Yield; all rates and terms subject to change without notice. For complete account disclosures, ask for a copy of our Membership & Account Agreement, Reg CC (Funds Availability) and Reg E (Electronic Transfers) disclosures, Fee Schedule and Member Business Account™ Fee Schedule. Membership eligibility required. Alabama Credit Union is not responsible for content of Web sites which may be accessible via links from this site but are not operated by Alabama Credit Union, and does not represent either the third party or the member if the two enter into a transaction; privacy and security policies may differ from those practiced by Alabama Credit Union.

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