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Business Membership

Businesses and organizations incorporated or otherwise, are eligible for membership in NSWC Federal Credit Union if they are composed, for the most part, of the same general group as the Credit Union membership. For more information about Business Accounts at NSWC Federal Credit Union, contact Member Services at (540) 663-2181 or (540) 373-5127, or email the Credit Union.

What does this mean?

As long as the majority, fifty-one percent (51%), of the principals in the business, is eligible for individual membership in the Credit Union, the business itself can become a member. To see our eligibility for individual membership, click here.

Who are the principals of the business?

The principals are typically the owners of the business. They are called different things depending on the type of business. The owners of the business are identified in the documents that are provided when membership is established, as follows:

Sole Proprietorship	Fictitious Name Certificate
General Partnership Limited Partnership (LP) Limited Liability Partnership (LLP)	Partnership Agreement Statement of Partnership Authority Certificate of Limited Partnership Statement of Registration as a Domestic Limited Liability Partnership
Limited Liability Company (LLC)	Articles of Organization
Corporation	Articles of Incorporation

What if the organization is an association or club?

In this instance, the association or club is eligible for Credit Union membership if at least fifty-one percent (51%) of its members are individually eligible for Credit Union membership. We require that the association or club have a Tax Identification Number (TIN) to establish membership. This is the Employee Identification Number (EIN) of the organization.

How do we verify eligibility?

All businesses, as part of establishing membership, will be required to sign a “Resolution”. In signing this Resolution the principal(s) of the business or organization is certifying that the business meets the eligibility requirements.

What if the majority of the principals (or members) are not eligible for membership?

Many businesses are eligible to become a Select Employee Group of the Credit Union. Once this Credit Union relationship is establish, all of the principals are eligible for membership, thus the business is eligible to establish membership. With our Select Employee Group partnership, your business can offer the benefits of Credit Union membership to all of their employees, as well as their families, at no cost to the business! For more information on becoming a Select Employee Group of NSWC Federal Credit Union contact us.