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Business Services

Route 31 Business Services

Our business banking offerings provide a comprehensive suite of financial products and services, including business loans, lines of credit, checking and savings accounts, and much more.

Benefits

Credit Union Membership for Employees
Health Savings Accounts for Employees with Free Debit Card
SEP IRA for Employees
Payroll Deposits
Notary Service
Debit Card
MyBiz Online Banking
Online Bill Pay
Wire Transfers (See Fee Schedule)
Night Deposit Services
Business Account Supplies: Checks, Deposit Stamps, Night Deposit Bags

Business Solutions

Route 31 offers the following solutions for businesses:

Remote Check Deposits
- Remote Deposit Capture offers the ability to scan multiple checks, including high-value checks, directly to us from the comfort of your office. Your business can deposit on your schedule via an electronic deposit, and funds will be available as soon as the next business day.
  - Convenience: deposit checks when convenient for you, one at a time or in a branch.
  - Flexibility: Gains access to later deposit cut-off times.
  - Savings: Significantly reduces collection float.
Direct Deposit for Employees & Other ACH Payments
- Using ACH Origination, you can initiate electronic business payments, including:
  - Direct employee deposits
  - Payments to vendors and suppliers
  - Collection of periodic dues or membership fees
  - Transfers to or from non-credit union accounts
  - State and Federal tax payments
- You can create and manage as many payees as you’d like. All recipient details are stored in a secure database of payment instructions that includes payee details and relevant banking information.
  - Control: Manage your cash flow.
  - Cost-effective: Lower transaction fees.
  - Convenience: Schedule your payments in advance.
  - Secure: Reduces risk inherent with paper checks.
Check Fraud Prevention
- As a business owner, you shouldn’t have to worry about check fraud. Using our Positive Pay service, you will gain peace of mind knowing that you can mitigate risk, reduce losses, and increase account security. You will benefit from reduced errors and faster reconciliation.
  - Flexibility – digitally confirms check information
  - Security – ensures only valid checks get cashed
  - Protection – prevent unauthorized payments
Online Wire Transfers
- Efficiently managing your business requires reliable, on-time payments to your vendors. Online wire transfers are a simple, secure, and practical way to transfer funds while giving your business additional time to manage your receivables. Our digital platform allows you to manage these payments at your convenience, to provide peace of mind that your business is taken care of.
  - Convenient: Real-time, optimal exchange rates
  - Ease of Use: Track domestic wires with a Fed reference number.

Watch the video below to see how we can help your business with cash management.

Business 31 Savings

Looking for a savings account with a low minimum balance and low fees? Our Business 31 Savings account requires a minimum balance of just $5 to retain your membership at the credit union, plus a $1 Membership Fee to open a share account. We also offer the services below:

Sub-Share Accounts (Unlimited)
Money Market Savings
Certificate of Deposits

Business 31 Interest Checking

Now your business can have a checking account that pays interest, but has minimum fees. Our Business 31 Interest Checking account requires a minimum deposit of $100 to open a checking account. Maintain a daily balance of $2,500 to earn interest.

Business 31 Interest Checking
$15 per Month Fee Waived with Minimum $300 Daily Balance

Non-Profit Interest Checking
To qualify for our Non-Profit Interest Checking account, you must be a 501(c) or small business account such as a bowling league, class reunion organization, etc.

No Monthly Fee
$100 Minimum Daily Balance to Earn Interest
No Minimum Deposit to Open Account

Loans

Route 31 Credit Union is now offering small business loans. We are here to help our local community businesses as you grow. Give us a call or apply online.

Line of Credit
Equipment and Vehicle Loans
Commercial Real Estate Mortgages
SBA (Depends on Partner)

Merchant Services/Payment Solutions

Route 31 Credit Union has partnered with Elavon to offer Merchant Services to our member businesses to help them save money. They have customized payment solutions to help businesses based on your needs. This includes seasonal businesses, vendors that sell at Arts and Craft Fairs, and Farmers selling at the Farmer’s Market.

ACH: Originating Payroll Deposits, Cash Management Transfers, Vendor Payments, etc.
Check 21
Remote Deposit Capture (RDC)
Get Paid Fast
Same Day Funds
Secure
Payments: Accept On-Line, In Person and Over the Phone
24/7/365 Support

Ideal for the Following Business Types:

Retail
Hospitality
Restaurant
Health Care
Professional
E-Commerce

Phone: (231) 726-4871

Routing Number: 272483170

Find Shared Branches

Equal Housing Lender

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.