Business Membership

Opening a Business Account at Thinkwise Credit Union

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File‑size tip: You may attach multiple documents (PDF, JPG, PNG, DOC, DOCX), but the combined total size must be under 5 MB. If your files exceed that limit, please either:
• Submit them in two or more uploads, or
• Email them directly to mybusiness@thinkwisecu.org.




Membership Eligibility

Thinkwise Credit Union serves individuals and organizations in the educational community of Orange, Riverside, and San Bernardino Counties, California. Eligibility is divided into two tracks: Individual Membership and Business Membership.

1. Individual Membership

Eligible Individuals Details
Active Educational Employees Teachers, administrators, classified/support staff, faculty, para‑educators, and contractors whose primary worksite is an educational institution within our three‑county area.
Retirees, Pensioners & Annuitants Individuals who have retired from any eligible educational occupation above.
Immediate Family & Household Spouses/domestic partners, parents, children, siblings, grandparents, grandchildren, and anyone sharing the same household with a current or eligible member.
Volunteers & Affiliated Organizations PTA/PTO officers, booster‑club leaders, board members, and other recognized volunteers directly supporting educational institutions in the service area.

2. Business Membership

Path Eligibility Requirements
A. Automatic Qualification
  • The individual opening the account is already a TWCU member and is the legal or majority owner of the entity.
  • The business operates in one of the Permissible Industry Categories.
  • The entity is headquartered or primarily conducts business in Orange, Riverside, or San Bernardino Counties.
B. Field‑of‑Membership Qualification
  1. Geographic Test — The business is located or primarily operates within the three‑county service area.
  2. Educational Nexus — The business demonstrably supports the educational sector (e.g., schools, education nonprofits, student‑service vendors).

Permissible Industries

  • Educational Services & Childcare (NAICS 61)
  • Professional, Scientific & Technical Services (legal, accounting, consulting)
  • Healthcare & Social Assistance
  • Retail Trade (storefront and e‑commerce)
  • Accommodation & Food Services
  • Construction, Trades & Contracting
  • Information & Technology Services
  • Arts, Entertainment & Recreation (excluding adult‑entertainment)
  • Manufacturing & Wholesale
  • Real Estate & Property Management
  • Government, Public Administration & Municipal Agencies
  • Non‑Profit & Charitable Organizations (education, youth services, community development)
  • Political Campaign Committees (with required segregated FBO accounts)

Restricted Industries 

  • Money Services Businesses (MSBs)
  • Cannabis / Marijuana‑Related Businesses
  • Internet Gambling & Gaming Operations
  • Adult‑Entertainment Businesses
  • Virtual‑Asset / Cryptocurrency Exchanges or Custodians
  • Payday & Title‑Loan Lenders
  • Shell companies lacking verifiable operating purpose

NCUA Framework: Organizations may qualify if located in the community field of membership or are “organizations of such persons,” provided the credit union applies a risk‑based approach to due diligence.


Requirements to Open a Business Account at Thinkwise Credit Union

(California‑based • effective July 2025 - Written by Damian Victoria, Chief of Finance & Lending)

Tip: All documents must be current, legible, and file‑stamped (where applicable). Uploads are acceptable if every page is visible and unaltered.

1 · General Requirements for All Business Accounts

What we need Why we need it
Business Membership Application & Signature Card Establishes the legal account relationship and authorized signers
Government‑issued photo ID for every signer
and every beneficial owner ≥ 25 % 		U.S. Patriot Act Customer Identification Program (CIP)
IRS Tax ID — EIN for entities, or
SSN for sole proprietors without an EIN 		Required for tax reporting
FinCEN Beneficial Ownership Certification (legal entities only) Federal CDD rule (31 CFR 1010.230)
Formation / Governance Documents (see § 2) Verifies legal existence & authority
Local Business License or Permit
  • City/county business license ‑or‑
  • Home Occupation Permit (HOP) for home‑based operations ‑or‑
  • Written exemption letter from the locality
 Confirms permission to operate—even from a spare bedroom
Initial Deposit — $25 minimum share plus any product‑specific minimums Satisfies membership requirement
Membership Eligibility Proof Thinkwise field of membership
Physical Business Address (no P.O. boxes) & mailing address CIP & regulatory mail requirements

Home‑Based Businesses: If your city or county offers a Home Occupation Permit (HOP) instead of a standard business license, submit the approved HOP or a written exemption letter.

2 · Formation & Governance Documents by Business Type

A. Sole Proprietorship

  • County‑filed DBA (if operating under a trade name)

  • Local business license / HOP / exemption letter

  • Optional EIN (recommended once payroll or contractors exceed one person)

B. General Partnership (GP)

  • Fully executed Partnership Agreement (all pages)

  • County DBA (if any)

  • EIN

  • Local business license / HOP / exemption letter

C. Limited Partnership (LP) / Limited Liability Partnership (LLP)

  • Certificate of Limited Partnership / LLP – filed & stamped by CA Secretary of State

  • Partnership Agreement

  • EIN

  • Local business license / HOP / exemption letter

D. Limited Liability Company (LLC)

  • Articles of Organization (CA LLC‑1) or foreign qualification

  • Operating Agreement (signed by all members/managers)

  • Current Statement of Information (Form LLC‑12)

  • EIN

  • Local business license / HOP / exemption letter

E. Corporation (C‑Corp, S‑Corp, Professional Corp, Benefit Corp)

  • Articles of Incorporation (or foreign qualification)

  • Bylaws (signed)

  • Board Resolution or Corporate Banking Certificate authorizing the account and signers

  • Current Statement of Information (Form SI‑550)

  • EIN

  • Local business license / HOP / exemption letter

F. Non‑Profit Corporation / Association

  • Non‑profit Articles of Incorporation

  • IRS 501(c)(3)/(4)/(6) determination letter or CA Attorney‑General registration

  • Board Resolution (or meeting minutes) naming authorized signers

  • EIN

  • Business license (many cities offer reduced‑fee permits for non‑profits) or written waiver

G. Trust (Revocable, Irrevocable, Business Trust)

  • Full Trust Agreement or Certification of Trust (Prob. Code § 18100.5)

  • EIN (for irrevocable or business trusts) or grantor’s SSN

  • Business license generally not required unless the trust actively operates a trade

H. Estate / Court‑Ordered Entity

  • Letters Testamentary / Letters of Administration

  • EIN for the estate

  • Local business license not required unless the estate conducts ongoing business operations

I. Government Agency / Municipality

  • Authorizing resolution or minutes

  • Government tax ID number

  • No local business license required

J. Co‑operative, Credit Union Service Organization (CUSO), or Other Specialized Entity

  • Formation documents per CA SOS

  • Operating Agreement or Bylaws

  • Applicable regulatory approvals (e.g., CA DFPI, NCUA)

  • EIN

  • Local business license / HOP / exemption letter (if required for the activity)

K. Campaign / Political Committee (IRC § 527)

  • EIN (IRS Form SS‑4 confirmation)

  • Statement of Organization

    • Federal races: FEC Form 1 showing committee ID (C‑#######)

    • California state/local races: FPPC Form 410 with FPPC ID

  • Designation of Treasurer Letter or Committee Bylaws naming authorized signers

  • Government‑issued photo ID for Treasurer and any additional signers

  • Thinkwise Political‑Funds Certification (internal form)

  • FinCEN Beneficial Ownership Form (treasurer listed as control person; ownership sections marked “0 %”)

  • Local business license – usually not required, but provide a tax certificate or written waiver if your locality mandates one

  • Initial $25 deposit and membership eligibility for at least one signer

  • Physical residence or campaign HQ address (P.O. box acceptable for mailing only)

3 · California‑Specific Requirements & Nuances

Item Applies To Notes
CA Statement of Information Corporations, LLCs Must be current (filed within last 24 months)
Seller’s Permit (CDTFA) Any entity selling taxable goods Provide active permit or written confirmation of exemption
Local Business License or HOP All entities, including home‑based Required unless the city/county issues a written waiver
Cannabis‑Related Business (CRB) Plant‑touching & ancillary Provide state license, city permit, BSA/AML questionnaire; subject to enhanced due diligence
Money Services Business (MSB) Check cashers, remitters, currency exchanges Provide FinCEN MSB registration, CA DFPI license, BSA program summary
Community Property Considerations Married sole proprietors / LLC members Both spouses may need to sign the membership agreement
Foreign (Out‑of‑State) Entities Any Must file Statement and Designation by Foreign Corporation/LLC with CA SOS before account opening

4 · Additional Thinkwise Policies & Best Practices

  1. Beneficial Owner ID Threshold: Collect ID for each individual with ≥ 25 % ownership and one individual with significant control.

  2. Signer Limits: Maximum of four signers per business share account unless the Board Resolution requires more.

  3. Digital Banking Enrollment: Primary signer receives access first; additional users are added via the Business Online Banking Agreement.

  4. Credit Services: All guarantors on loans must be natural persons who independently qualify for membership.

  5. Periodic Reviews: High‑risk industries (CRB, MSB, adult entertainment, virtual‑asset service providers) undergo an annual documentation refresh.

5 · Quick Checklist

  • Business Membership Application & Signature Card

  • Government photo ID for every signer & beneficial owner

  • EIN or SSN

  • FinCEN Beneficial Ownership Form (entities)

  • Formation / governance documents (see § 2)

  • Local business license, Home Occupation Permit, or written exemption letter

  • Minimum $25 opening deposit

  • Proof of Thinkwise membership eligibility

  • If high‑risk or political: supplemental questionnaire & certification forms

Questions?

Contact our Business Services team at mybusiness@thinkwisecu.org or 909‑474‑8448. Our specialists can pre‑review your paperwork before you visit the branch.