Business Membership Requirements
At Bluestone FCU, we’re prepared to help you with the financial needs of your business with our range of savings and checking options.
We want to make the process as efficient and enjoyable for you as we build our financial relationship together. For that reason, we ask that you take the time to review the below items before attending your membership opening appointment. Once you have compiled all required data, stop by any branch or give us a call at (605)367-7070 to schedule an appointment.
A printable copy of the requirements is provided for your convenience. Click here to open the printable copy.
Ownership structure varies among all businesses. Whether you’re a sole proprietor, a business partner, or are involved in a corporation, our business accounts are the perfect fit for you.
This means we need an employer identification number or social security number for your Business/Legal Entity.
- Employer Identification Number (EIN) – this is required for ALL partnerships and corporations. You can complete your online application for an EIN by visiting the IRS website.
- Social Security Number (SSN) – this is required for sole proprietorships, groups, or clubs if there is no EIN.
Certification of Beneficial Ownership requires identification documents for any individual, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise, that owns 25% or more of the equity interests of the Legal Entity or Business.
Beneficial owners can provide copies of their identification documents, while original documents will be required for any person designated as a signor or given permission to conduct transactions for the membership.
Identifying Information Required:
- Federally Registered Driver’s License (Passport Number of Country of Issuance, if a non-U.S. person)
- Legal Name (First, Middle, Last)
- Date of Birth
- Address
- Social Security Number
- Percent of Ownership
The tiles below will help identify which documents we specifically need for your ownership structure. It is very important you review the documents needed before attending your appointment. After finding the correct structure for your business, hover over the tile to reveal the needed documents.
Sole Proprietorship
Documents Needed:
-Business License, if applicable.
DBA
Documents Needed:
(Required if the business name/DBA does not plainly show the true surname of each person interested in the business. DBA's must have at least one owner.)
Association/Club/Group
Documents Needed:
S Corp
Documents Needed:
-Corporation By-Laws, if applicable
-Corporate Resolution
-Meeting minutes stating account opening instructions.
-Business License, if applicable.
-Certificate of Good Standing from South Dakota Secretary of State
General Partnership
Documents Needed:
-Partnership Resolution
-Filing of Fictitious or Business Name
-Business License, if applicable
Limited Partnership
Documents Needed:
-Partnership Resolution
-Filing of Fictitious or Business Name -Business License, if applicable.
-Certificate of Good Standing from South Dakota Secretary of State
Limited Liability Partnership (LLP)
Documents Needed:
-Partnership Resolution
-Filing of Fictitious or Business Name
-Business License, if applicable.
-Certificate of Good Standing from South Dakota Secretary of State
Trust
Documents Needed:
Corporation for Profit
Documents Needed:
-Corporation By-Laws, if applicable
-Corporate Resolution
-Meeting minutes stating account opening instructions
-Business License, if applicable.
-Certificate of Good Standing from South Dakota Secretary of State
Corporation Not for Profit
Documents Needed:
-Corporation By-Laws, if applicable
-Corporate Resolution
-Meeting minutes stating account opening instructions
-Business License, if applicable.
-Certificate of Good Standing from South Dakota Secretary of State
Limited Liability Corporation (LLC)
Documents Needed:
-Operating Agreement
-Partnership Resolution
-Filing of Fictitious or Business Name
-Business License, if applicable.
-Certificate of Good Standing from South Dakota Secretary of State
Estate
Documents Needed:
-Court papers appointing the executor or personal representative