Commercial & Business Services

The success of your business is important to us and that’s why we’ve created valuable banking solutions that are good for your business. We’re With You! Simply contact us today to begin taking advantage of checking accounts, credit cards and loans to help meet your company’s growing needs. Meet our Commercial & Business Services Team.

Business Checking

We have checking accounts built for businesses no matter how big or small. Find the business checking account that’s best suited for you at Scott Credit Union. Contact our Commercial & Business Services Department today by email.

Plus, you can now get the exclusive St. Louis Blues debit card with your Business Checking account at Scott Credit Union.

Business Accounts

Business Essentials Checking
Businesses with minimal transaction needs that want a simple, straight-forward account.
Business Growth Checking
Small to medium size businesses that require more options to manage cash flow at a great value.
Business Money Market
Available to businesses that want to grow excess capital at higher dividend rates than those offered with traditional business savings accounts without locking the funds up for months or years at a time.

Business Account Detail Comparison
Account How to Waive Monthly Fee Monthly Fee Monthly Transaction Threshold Fee Per Transaction Over Threshold Returned Deposit Item Balance Threshold to Earn Interest Interest Rates Other Services
Business Essentials Checking E-Statements $5 2501 $0.15 $4.50 N/A N/A Online access with unlimited bill pay
Business Growth Checking $25,000 minimum daily balance $25 5001 $0.15 $4.50 $0.01 0.10% APY2 Online access with unlimited bill pay
Business Money Market $10,000 Minimum Daily Balance $15 Unlimited deposits; 6 withdraws per month $10 per withdraw over 6 per month $4.50 $2,500 Mirrors Consumer Money Market Rates Online access with unlimited bill pay

Special Business Accounts

Community Checking
As part of our continued to support to the communities we serve, this account is a superb value for non-profit and community organizations within our field of membership.
Estate Checking
Designed specifically to manage funds related to an estate. This is an easy-to-use checking account with no transaction thresholds or monthly maintenance fees.

Special Business Account Detail Comparison
Account How to Waive Monthly Fee Monthly Fee Monthly Transaction Threshold Fee Per Transaction Over Threshold Returned Deposit Item Balance Threshold to Earn Interest Interest Rates Other Services
Community Checking N/A $0 N/A N/A $4.50 $10,000 0.05% APY2 Online access with unlimited bill pay
Estate Checking N/A $0 N/A N/A $4.50 $10,000 0.05% APY2 Online access with unlimited bill pay

Get Started and Open a Business Account

Scott Credit Union wants to see you and your business succeed. Contact our Commercial & Business Services Department today by email.

What Documentation to Have Ready
  • Proof of Federal TAX ID number in the business name
  • ID (Valid identification for all signers on the account)
  • Documents verifying information about the business and who is authorized to act on behalf of the business. These documents will vary depending on the business/organization type, see below.
Sole Proprietorship
  • Illinois Business
    • Assumed Name Certificate issued by the County where the Business is located
  • Missouri Business
    • Fictitious Name Filing issued by the Secretary of State of Missouri
Partnership
  • Illinois Business
    • Assumed Name Certificate issued by the County, if applicable
    • Partnership Agreement
  • Missouri Business
    • Fictious Name Filing issued by the Secretary of State of Missouri, if applicable
    • Partnership Agreement
Corporation
  • Articles of Incorporation
  • Corporate Bylaws
    • Additional Items may be required per the Bylaws
Limited Liability Company
  • Articles of Organization
  • Operating Agreement
    • Additional Items may be required per the Operating Agreement
Non-Profit
  • Articles of Incorporation
  • Corporate Bylaws
  • Board Resolution
  • 501(c)3 Paperwork
    • Additional Items may be required per the Operating Agreement
Organization
  • Letter on Organization’s Letterhead requesting Membership
  • Organization Account Resolution (provided by the CU)

1Deposits count as 1 item, regardless of the number of items in a deposit.

2APY=Annual Percentage Yield.

Commercial Loans

Commercial Loans

Hakuna Matata Ribbon Cutting
I was very pleased with my service from Scott Credit Union’s Commercial Lending Department. Everyone was very friendly and walked me through every step that needed to be done to process my business loan. We had a few hiccups along the way but we worked through them together. The process did take longer than we had originally expected, but they were very positive everything would work out, and it did!!! I live over an hour away from the main office and they were even willing to drive to my business location to check out all we had done and it felt so personal to show them what I had worked so hard to achieve – a state licensed day care center in a town that had nothing. I never even had to make a trip to a Credit Union office – we did the closing and everything at my business location. Chris and Natalie were amazing to work with and they are very experienced in SBA loans for businesses. They answered any questions I had right away. If you are thinking about a business or SBA loan, consider Scott Credit Union as an amazing place to go. -April Eichenseer, Hakuna Matata Kid Care Inc.

We offer business loans to help you meet all of your company’s growing needs.

  • Commercial Real Estate Loans
  • Business Vehicle Loans
  • Capital Improvement Loans
  • Business Lines of Credit
  • Equipment Loans
  • Working Capital Lines

Features and Benefits:

  • Competitive Loan Rates
  • Low Fees
  • Local Decisions
  • Quick Response Times

Visa® Business Credit Card

Visa Business Credit Card

Scott Credit Union Visa Business Credit Cards now offer you a way to control expenses and meet the needs of your growing business. Get a business rewards credit card that lets you earn points on everyday purchases with no point limits and no redemption fees.

Our Visa Business Credit Cards offer the following features:

  • Non-variable interest rates from 10.99% APR to 15.99% APR1
  • No Annual Fee
  • Low Balance Transfer Fee
  • Rewards Program – Redeem points for gift cards, cash, and travel2
  • Earn 1 point for every $1.00 in credit card purchases
  • No additional cost for employee cards while earning points with their purchases

Scott Credit Union wants to see you and your business succeed. Contact our Commercial & Business Services Department today by email.

1APR=Annual Percentage Rate. Rates based on certain credit-worthiness criteria.

2Please review account agreement for benefit details and conditions.

SBA Loans

When you have big dreams for your small business, we’re here for you!

Low rate SBA loans can help you down the path to success

At Scott Credit Union, we’re all about helping your business grow to its full potential. Ask us today about financing with as little as 10% down! We can provide financing with a competitive rate to small business for commercial real estate, equipment, and more.

What are SBA loans?

The U.S. Small Business Administration is a federal agency committed to furthering the growth and development of small businesses. One of the ways it does this is by guaranteeing loans to small businesses made through lending partners. The SBA does not make loans directly to small businesses. Rather, it sets the guidelines for loans, which are made by its lending partners. The SBA guarantees a percentage of loans, minimizing the risk to its lending partners and increasing the possibility that small businesses will receive the funds they need.

Types of SBA loans we offer:

  • 504
  • 7(a)
  • Express Lines of Credit

Advantages of SBA loans:

  • Up to 90% financing
  • Terms up to 25 years
  • Fixed and variable rate options
  • No balloon payments
  • Most for-profit small businesses are eligible

There’s an SBA loan for almost any business need.

  • Commercial real estate purchases
  • Business acquisition or expansion
  • Equipment, inventory or working capital
  • Debt refinancing

Scott Credit Union wants to see you and your business succeed. Contact Commercial Banking today for more information. Contact our Commercial & Business Services Department today by email.

Meet Our Commercial & Business Services Team

Ryan Goodwin - Vice President of Commercial Lending

Ryan Goodwin

Vice President of Commercial Lending

Sarah Robinson - Treasury Management Manager

Sarah Robinson

Treasury Management Manager

Back to Top

Comments are closed.