Opening a Business Account
Becoming a business member is easy.
You can open a Sole Proprietorship, General Partnership, or Corporation account online using a computer, tablet, or your mobile phone. If you're setting up any other business type, please book an appointment with our Business Banking Team at a nearby branch.
Not sure what kind of documents to bring in when you apply for your business account? We’ve compiled a checklist to get you started.
Some other things you should know.
You will need to be a resident of Canada, outside of Quebec, and satisfy credit check requirements.
If you’re not an existing member, you’ll be asked to purchase $5 in membership equity shares. It’s not a fee. It’s a one-time investment giving you a say in how we do business.
All partners, along with any other individuals who will be signers, need to come in. The partners will need to be residents of Canada, outside of Quebec, and satisfy credit check requirements.
If the partnership is not an existing member, you’ll be asked to purchase $5 in membership equity shares. It’s not a fee. It’s a one-time investment giving you a say in how we do business.
The Corporation needs to be incorporated in Canada, outside of Quebec. At least two Directors, along with any other individuals who will be signers, need to come in. The Directors will need to satisfy credit check requirements.
If the Corporation is not an existing member, you’ll be asked to purchase $5 in membership equity shares. It’s not a fee. It’s a one-time investment giving you a say in how we do business.
All Unincorporated Organizations need 2 individuals who are personal members of Coast Capital Savings to act as Sponsors on the account. One of the Sponsors must be a Coast Capital member with an account in good standing for a period of at least 6 months prior to opening the Organization account.
The two Sponsors, along with any other individuals who will be signers, need to come in.
The Incorporated Association or Society needs to be incorporated in Canada, outside of Quebec. At least two Directors, along with any other individuals who will be signers, need to come in. The Directors will need to satisfy credit check requirements.
If the Association or Society is not an existing member, you’ll be asked to purchase $5 in membership equity shares. It’s not a fee. It’s a one-time investment giving you a say in how we do business. We’ll also return it to you if you leave the credit union. But we really hope you won’t.
Don't see your business type on the list?
Don’t worry. We can help all types of businesses – that includes yours. Contact us for more information about what you’ll need to open an account.