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Member Business Services

Ideal for small businesses

At OSU Federal, we’re big enough to provide our member businesses with a full suite of business accounts, loans and services yet small enough to understand the challenges small business owners face each day.

If you’re a business owner, you’ll want to take a look at our checking, savings and credit card options. Setting up ACH will help you process payroll quickly and efficiently. Will you be accepting credit and debit card payments from your customers? Then you’ll need to explore merchant card services. Take a look at our options and then give us a call at 800-732-0173 or come into any of our branches. We’ll work with you to put together a set of financial tools just right for your business.

Successful business owners prepare for the future. If you’re thinking about expanding your business, offering employee benefits, or retiring, we can help. Just call 800-732-0173 ext. 5075 and make an appointment to discuss your plans.

Opening your account is easy

Determine if your business is eligible for membership

  • Any business (regardless of location) where the signer(s) are eligible for membership in their own right
  • Any business that regularly conducts business in Benton, Lincoln, Linn, Polk, or Marion county
  • Any business of a current member (regardless of location)

Bring the following business documents depending on your business type

  • Sole Proprietor: Copy of your business license or assumed business name that’s been filed with the State of Oregon and your federal tax ID number or social security number
  • Partnership: Copies of the partnership agreement, business license or assumed business name, and federal tax ID number
  • Limited Liability Company: Copies of the LLC agreement, articles of organization, business license or assumed business name, and federal tax ID number
  • Corporation: Copies of the articles of incorporation, assumed business name and federal tax ID number

Come into any branch or call 800-732-0173 for more information


Extra business tools

OSU Federal offers additional services to make handling your business’ finances easier and more convenient. Whether you need 24/7 account access or to process customer credit and debit card payments, we can help. Call 800-732-0173 or come in to any of our branches and find out how you can utilize these services.

Online account access

Check balances, transfer funds between accounts including personal and business accounts, schedule payments, set alerts, access estatements, download transactions into Quicken, use Turbo Tax during tax season and pay bills electronically. All this access — for free.

Automated Clearing House (ACH) processing

ACH trims the paperwork and streamlines the process for your payments, as well as accounts receivable and even payroll. We’d be glad to show you some specific ways ACH can save you time and money.

  • Direct payment of bills such as loans, utility bills and insurance premiums
  • Payroll (weekly, bi-weekly, monthly)
  • Electronic invoicing/debits

Merchant card services

We are proud to partner with a regional company, Total Merchant Concepts (TMC), to provide debit and credit card processing. We chose TMC because of their commitment to providing great service to our business members. Plus they have competitive rates, low set-up costs, and monthly fees to make card processing affordable. If you need any support, TMC is just a phone call away. Give our business services team a call today and never say “sorry” to another card-carrying customer again.

Business seminars

A financially smart workforce is a happy workforce. Our experts can bring free financial seminars to your workplace. Your employees will learn something new and you’ll have something to add to your list of employee benefits. Some topics include:

  • Budgeting
  • Buying a home
  • Avoiding identity theft
  • Retirement planning

Contact our Director of Community Education at 800-732-0173 ext 4093 to schedule a time that works for you and your employees.

Retirement planning

With a Simplified Employee Pension Individual Retirement Account (SEP IRA), you can set up a retirement account for yourself and your employees. Because a SEP works like any other IRA, it’s safe and earns a good rate of return.

Investment services*

Looking for more sophisticated benefits planning? OSU Federal Investment Services available through our broker-dealer CUSO Financial Services, L.P. (CFS) may be able to help. Our dedicated team can work with you to set specific goals, plan for your future and provide for your employees.

  • 401(k) or other retirement plans
  • Group life insurance
  • Deferred compensation plans
  • Key person life insurance
  • Defined benefit pension plans

Let’s be partners

Contact us or call 800-732-0173 for information on our business services. We’ll help put the right tools at your fingertips — saving you time and putting you back where you belong — running your business.


* Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA / SIPC ) and SEC Registered Investment Advisor.  Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.


Helpful business resources

Starting your own business means getting the right paperwork in place. Start here and discover ways to better serve your customers, how to make tax time easier and much more.

Business Oregon

Starting a business in Oregon, or simply moving here from another state? Business Oregon has all the answers and resources to ensure success. Learn more

Oregon Corporation Division

Looking for business registration services? The Corporation Division can help, including notary public services, UCC services, essential forms and more. Learn more

U.S. Department of Agriculture (USDA)

The USDA is an outstanding resource for those in agriculture or anyone interested in doing research on the topic. Learn more

Farm Service Agency (FSA)

The FSA is a division of USDA dedicated to farmers and ranchers across the country, providing the programs and services they need to grow and prosper. Learn more

U.S. Small Business Administration (SBA)

The SBA provides programs and services to help entrepreneurs start, grow and succeed in the business world. Learn more


Business account rates

Rates as of date

Each account holder agrees to the terms set forth on this Account Rate schedule and acknowledges that it and the business truth in savings disclosure are part of the Membership and Account Agreement.


Business Checking


* $25 minimum balance to open account(s)

** $1,000 average daily balance maintained to earn dividends

*** $3,000 daily balance maintained to waive monthly fee

Product: Free Business Checking Smart Business Checking Select Business Checking
Description: No minimum balance, very low volume Great for moderate volume, earns dividends Best for large businesses, high volume, earns dividends
Average daily balance $0 $1,000** $0
Monthly fee $0 $10*** $15
Checks deposited 100 free
100+/ $0.20 each
250 free
250+/ $0.15 each
$0.12 each
Checks cleared 100 free
100+/ $0.20 each
200 free
200+/ $0.15 each
$0.12 each
Cash deposited First $3,000 free
$0.12/$100
First $5,000 free
$5,000+/ $0.10/$100
$0.12/$100
Dividend rate / APY N/A 0.01% / 0.01%** See chart below

Select Business Checking

Balance Dividend rate Annual Percentage Yield
$0 – $9,999 N/A N/A
$10,000 – $24,999 0.01% 0.01%
$25,000 – $49,999 0.01% 0.01%
$50,000 – $99,999 0.03% 0.03%
$100,000+ 0.05% 0.05%

Business Savings


* Business Basic Savings must maintain a minimum daily balance above $250 or, if below $250, have one other account type to avoid a $3 service fee per calendar month. If you have multiple Business Basic Savings Accounts, each account may receive a separate fee based on each individual balance.

** Minimum balance that must be maintained each day to earn dividends.

*** Minimum balance to avoid $15 fee is $1,000.

† No minimum balance required to earn dividends.

‡ Minimum balance to avoid $20 fee is $10,000.

Accounts Minimum Balance to Open Account Minimum Balance to Earn Dividends Dividend rate / Annual percentage yield
Business Basic Savings* $5 $100** 0.03% / 0.03%
Business Money Market*** $5 0.05% / 0.05%
Business Investor’s Money Market‡ $10,000 See chart below

Business Investor’s Money Market

** Service fees: $20 minimum balance fee, $55 for early closure if account held less than three months.

Investor’s Money Market and Business Investor’s Money Market both yield the same Dividend Rates and APY

Balance Ranges Dividend Rate Annual Percentage Yield
$0 – $9,999 N/A N/A
$10,000 – $24,999 0.10% 0.10%**
$25,000 – $49,999 0.12% 0.12%**
$50,000 – $99,999 0.15% 0.15%**
$100,000 and up 0.20% 0.20%**

Business certificate accounts

In the following chart, rates listed under APY indicate Annual Percentage Yield (APY) after compounding daily and posting monthly.

Certificate account disclosure

Term Dividend Rate/APY ($500 – $24,999) Dividend Rate/APY ($25,000 – $99,999) Dividend Rate/APY ($100,000 +)
182 – 364 days 0.05% / 0.05% 0.05% / 0.05% 0.05% / 0.05%
12 – 24 months 0.05% / 0.05% 0.10% / 0.10% 0.15% / 0.15%
24 – 36 months 0.05% / 0.05% 0.15% / 0.15% 0.30% / 0.30%
36 – 48 months 0.10% / 0.10% 0.25% / 0.25% 0.50% / 0.50%
48 – 60 months 0.20% / 0.20% 0.45% / 0.45% 0.70% / 0.70%

Business account service fees

Fees as of date

Each account holder agrees to the terms set forth on this Business Account Fees Schedule and acknowledges that it is part of the Membership and Account Agreement.


Standard membership fees


* if closed within 120 days
Membership
Membership fee $10
Membership closure fee* $10
Inactive memberships $5/month

Accounts


* Business Basic Savings must maintain a minimum daily balance above $250 or, if below $250, have one other account type to avoid a $3 service fee per calendar month. If you have multiple Business Basic Savings Accounts, each account may be charged a separate fee based on each individual balance.

Business Basic Savings only*
$250 minimum balance No charge
Less than minimum balance $3/month
Business Money Market
$1,000 minimum balance No charge
Less than minimum balance $15/stmt. period
Business Investor’s Money Market
$10,000 min balance No charge
Less than minimum balance $20/stmt. period
Early closure fee if account held less than 90 days $55
Free Business Checking
$0 minimum balance No charge
Checks deposited – first 100 checks Free
Checks deposited – 100+ checks $0.20 each
Checks cleared – first 100 checks Free
Checks cleared – 100+ checks $0.20 each
Cash deposited – up to $3,000 Free
Cash deposited – over $3,000 $0.10/$100
Smart Business Checking
$3,000 average daily balance No charge
Less than average daily balance $10/stmt. period
Checks deposited – first 250 checks Free
Checks deposited – 250+ checks $0.15 each
Checks cleared – first 200 checks Free
Checks cleared – 200+ checks $0.15 each
Cash deposited – up to $5,000 Free
Cash deposited – over $5,000 0.10/$100
Select Business Checking
$0 minimum balance $15/stmt. period
Checks deposited - $0.12 each
Checks cleared - $0.12 each
Cash deposited - $0.12/$100

Services and extras


* At machines not owned by OSU Federal

Bank wires
Outgoing Western Union $35 per $10,000 wire
Remit international wire in US funds $35
Remit international wire in foreign funds $35 + third party fees
Incoming wire $15
Outgoing domestic wire $30
Business supplies
Business checks Fees depend on the style and quantity of checks ordered.
Endorsement stamps Fees depend on the style and quantity ordered.
Deposit bags 2 free, extras: cost + $5
Automated teller machines
OSU Federal owned Free
Co-op Network first 6/month Free
Co-op Network additional transactions* $1.50/transaction
Other machines per transaction* $1.50/transaction
Checks and check services
Electronic bill paying No charge
Cashier’s check $5/check
Cashier’s check stop payment $30
Non-MICR encoded checks $5/item
Mis-encoded checks $5/item
Check Copy $5/check
Stop payment $20
Bill pay stop payment $25
Bill pay expedited payment $5
Bill pay expedited payment by check $20
Check images printed and mailed $25/month
Temporary checks $2.00/page
Check collections/exchange $10 + third party fees
Member in good standing letter
First original $10
Additional originals $1/letter
Convenient services
Visa Travel Card
         Reload $3.00
         Standard Issue $6.95
         Personalized $11.95
Plastic card replacement $5/card
Safe deposit boxes $35 to $110/year
Redemption of foreign currency $10 + third party fees
Purchase of foreign currency $10 + third party fees
Special services provided by 3rd party vendors Actual charge
Bad address $5/month
IRS incorrect SSN/TIN fee Actual charge
Locator research fee $25
Overdraft protection transfer $4/transfer
Statement copy $5/statement
Interim statement copy $5/copy
Account research $25/hour
Levy/Garnishment $40
NSF (Non-sufficient funds), returned, dishonored items
Overdraft/NSF fee $30/item
Returned item $5/item
Dishonored non-credit union check written by member $30/check

OSU Federal ©2010 OSU Federal

  • PO Box 306
  • Corvallis, OR 97339
  • Phone: 800-732-0173

Routing number : 323274270