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Serving members worldwide since 1935.

Business Banking

  • Business Basic & Performance Checking
  • Business Savings
  • Money Market & Certificate Accounts

Find the accounts you need to help your business thrive.

Have Questions? Ready to Open an Account?

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Our Business Solutions Program is designed to empower your business to achieve a brighter financial future.

Business Checking

Improve your bottom line when you conduct your business banking at Lafayette Federal. We offer two distinct business checking accounts, based on the number of transactions performed within the account on a monthly basis. Both checking accounts offer our Mastercard® Debit Card, free e-statements, and highly competitive rates.

Business Basic Checking

Our Business Basic Checking is optimal for:

  • Small to medium sized businesses looking for a simple checking account
  • Moderate volume of checks cash flow on a bi-weekly basis
  • Moderate balances with returns on certificate products
Business Basic Checking
Minimum Opening Balance $100
Monthly Maintenance $5 or $0*
Transactions First 50 Free
Dividend Returns Dividends on Certificate Products
Per Item Charge $.35 per after 50 items
*Lafayette Federal Business Basic account holders can waive the $5 monthly fee by meeting just one of the following criteria: (1) Maintain an average monthly checking balance of $500 or greater (2) Open a Lafayette Federal Business Credit Card or Line of Credit (3) Use one or more Lafayette Federal Business Service products (Remote Deposit Capture, ACH SmartPay, Paychex Payroll, or FirstData Merchant Services)

Business Performance Checking

Our Business Performance Checking is optimal for:

  • Medium to large sized businesses with more complex cash management service needs
  • High volume of checks and cash flow on a daily basis
  • Higher balances with a higher return on checking
Business Performance Checking*
Minimum Opening Balance $1,000
Monthly Maintenance $20
Transactions Unlimited
Dividend Returns 1.00% APY** on Checking
Per Item Charge None
*For more information on how your business can meet eligibility for Business Performance Checking, please contact Lafayette Federal's Business Banking team at businessbanking@lfcu.org **APY=Annual Percentage Yield

Business Savings

With the ease and convenience our credit union is known for, we can offer you a more business-friendly alternative to the high fees you are used to at regular banks. Because, after all, we are Member-Owned, Member-Focused and Member-Operated.

Prime Share Accounts

These basic dividend-earning savings accounts are the backbone of our savings program. Prime Share accounts earn dividends from the date of deposit to the date of withdrawal. Dividends are compounded and paid out each quarter.

A Prime Share account must be opened with a minimum deposit of $50. Subsequent deposits can be made in any amount. A minimum balance of $50 is required to retain your membership in the credit union.

Variable-Rate Certificate Accounts

Variable-Rate Certificates are share accounts that are held for specific terms, in exchange for higher dividend rates. There are penalties for withdrawal before the end of the term, but you can make additional deposits in any amount at any time.

Fixed-Rate Certificate Accounts

We offer five-year, four-year, three-year, two-year, one-year, and seven-month fixed rate certificate accounts at very competitive rates. Fixed Rate certificate accounts are held for specific terms, in exchange for higher dividend rates. There are penalties for withdrawal before the end of the term.

Money Market Accounts

We offer both personal money market accounts and business money market accounts. The two accounts are similar in most respects. There’s no maintenance fee for either account. You can open either account with any deposit; however the minimum balance at which you start earning dividends for personal money market accounts is $2,500 and $10,000 for business money market accounts. You must maintain the minimum balance for the entire monthly statement cycle to earn dividends.

Have Questions? Ready to Open an Account?

Contact our Business Development Representative for assistance opening your account. They’re happy to answer any questions that you may have!

Henry Molina

Henry Molina

Vice President, Business Development
Phone: (301) 929-7990 ext. 3107
Mobile: (240) 485-9322
NMLS ID #1181161

Required Documents

To open a business account, the following documentation is required:

  • Certificate of Fictitious Name, Corporate Charter, Partnership Agreement or Articles of Incorporation.
  • IRS letter for non-profit status (if applicable).
  • Proof of physical address of the business.
  • Identification for each owner, officer or authorized signer.
  • Business TIN or EIN.

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Boost Your Employee Compensation Package

Become a Select Employee Group (SEG) at Lafayette Federal and give your employees membership to one of D.C.'s premier financial institutions. Your employees will enjoy special member benefits and there's no cost to your company. Find out more

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    Enjoy our 2.02% APY³ Checking — a premium rate 50 times higher than the national average¹

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    Our members have access to 30,000+ surcharge-free ATMs and 5,000+ shared branches for all basic transaction needs.

    Access branches and ATMs nationwide

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    Lafayette Federal HomeAdvantage is a free member service that can help you buy, sell and save on your home.

    Save $100s to $1,000s in Cash Rewards*