Business Member Products & Services
All shares are federally insured by the National Credit Union Administration (NCUA) for up to $250,000. For complete Share insurance details please visit NCUA’s website at ncua.org or view the following brochures: Your Share Insurance, How Your Accounts Are Federally Insured, or Share Insurance Coverage.
Important Information about Procedures for Opening a New Account.
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. There are ID requirements when opening an account with us, as well as when any other accounts are added. We use the Acceptable ID List provided by I-9 Form. You may also refer to the US Patriot Act.
For our business owners, WEPCO offers all the same personal products with just as much FREEdom, meaning just like there are no maintenance fees for our personal products, the are NO MAINTENANCE FEES for our business products!
To open a business account, you must have a Tax ID number or be the sole proprietor of a business, an organization or administrator of an estate. If you do not have a tax ID, our staff can help you apply with a simple phone call to the IRS at (800) 829-4933. The hours of operation are 7:00 a.m. – 7:00 p.m. local time, Monday through Friday. The IRS can fax your new EIN directly to us for your and our records to keep this simple!
If you are not sure or need more information, click this link to apply for an EIN with the IRS. Both of these links will redirect you to the IRS.gov website pages.
Business Share Account
A Business Share Account must be opened for all our members. Depending on how your EIN is established, we will determine how your account can be named and whether your name or the name of the business will appear first/second on your new business account. A minimum deposit of $5.00 with a one-time new membership fee of $0.25 is required at the time of opening. The $5.00 deposit will not be available for use while the account remains open. It is considered your “share” in the credit union and makes you and your business a part of our WEPCO family.
Business Share Draft Account
To begin your Business Share Draft (checking) at WEPCO Federal Credit Union, a minimum deposit of $100.00 is required.
Business checks are available upon request. If a check order is being placed, the balance requirement may increase to sufficiently cover the automatic payment (ACH) cost of the checks being ordered.
Please check our Savings Rates to determine if a rate applies based on the balance in the account. Dividends are determined by our board of directors, posted quarterly and are subject to change.
Unlimited number of checks per month can be written from this account as funds allow. Canceled checks are not returned to member, however, copies of share drafts (checks) are available online through our FREE PAL Plus online account access. Converted checks which are checks that are processed as ACH transactions are not available online, but a copy can be requested if needed. You may receive your statement by mail or through eStatements. Both PAL Plus and eStatements are available to all members absolutely FREE for secure, fast and convenient access to your account(s) or statement(s) 24/7.
Please click for a complete list of fees that may apply to a Share Draft Account. Courtesy Pay is NOT available on a business account.
We also offer our business accounts all of our other products which include Money Markets, and Share Certificates with the same terms and conditions. If you would more information on our other available products, please click here.
To order business checks, please click here to be linked with Deluxe.com for Business checks.
Qwik Draft Bill Payer
Qwik Draft Bill Payer is our Bill Payer service. You can use it to pay your one-time or recurring bills to save time and money. Qwik Draft is free to all members with a share draft account. Effective May 1, 2010, any member that has been inactive for 90 days on Qwik Draft will be deactivated. In addition, some vendors are available for eBill, which links your online vendor account with Bill Payer.
Note: A Share Draft account is required prior to the issuance of Qwik Draft service.
VISA Debit Card
Our VISA Debit Card is FREE to members and can be used anywhere VISA is accepted. We will order the card(s) in the name of the business and owner. If there is more than one owner, each card will list the name of the business and one owner’s name per card. You may make purchases at merchants’ stores, which gives you convenient access directly to your available funds in your Share Draft account. In addition, you will have access to your Share Savings and Share Draft available funds at any VISA/Star/Plus ATM (Automated Teller Machine). We charge NO FEE to our member card holders at our ATMs. When you use another financial institutions ATM, however, a surcharge fee may apply. Please read the surcharge sign at any ATM prior to using the ATM.
WEPCO has six ATMs located at our Bloomington, Keyser, Oakland, LaVale, and Kingwood Branches and on the main level lobby of Garrett Co. Memorial Hospital, Oakland, MD. ATM access is also provided at any STAR, Plus or VISA ATM. Again, its FREE to Members at our ATMs. Members who use an ATM in the Western Maryland ATM connection will not be surcharged. Click to view the ATMs belonging to the Western Maryland ATM connection. Using an ATM outside the Western Maryland ATM Connection may result in a fee charge by the owner of the ATM.
Fees apply to reordering a card or pin. Please click to view our fee schedule.
A Share Draft (checking) account is required in order to obtain a VISA Debit Card. If you already have a Share Draft account with us, why not apply today using our online application.
Business Credit Cards
Merchant Credit and Debit Processing Solutions
WEPCO has partnered with Universal Debit & Credit Solutions (UDC) to offer our business members a point of sale terminal to online transactions to ACH capabilities. They offer the most competitive rates and best customer service in the industry. In addition to payment processing solutions, they have products to help your business grow. If you are looking for a better way to reach your customers, their customized gift and loyalty card marketing programs can open a new avenue to reach both your new and current customers!
UDC has partnered with Triton, a leader in the ATM industry and Élan, operator of MoneyPass, the fastest growing ATM surcharge free network in the United States. They have ATM’s available in every size.
When you choose UDC, you will receive:
- 24/7 Toll-Free Customer Service
- Terminal Training
- Debit Processing Online with Access to Regional/National Debit Networks
- Automatic Deposit Options in Two Business Days
- Easy to Read Merchant statements, paper or web based
- Convenient Payment Options for Equipment
- Support for all major credit cards
To sign up, please contact one of our branch locations for an application.
Business Checks, Supplies and Marketing Items
WEPCO is partnered with the Deluxe Corporations to offer our business account owners low cost, quality products and services to help your business grow.
Deluxe focus on checks so you can focus on your business.
- Multiple formats & styles
- High security features
- Easy personalization
Deluxe also offers additional check accessories and promotional/marketing services such as:
- Deposit Tickets
- Check Envelopes
- Endorsement Stamps
- Business forms, envelopes, address stamps/labels
- Promotional pens, shirts, etc.
- Presentation Materials, Signage
- Direct Mail and email campaigns
- Logo and Website Design
Business Lending Products
WEPCO is currently developing its business lending program. More information will be available, once the program is complete and ready.