1. Business Account Training 2007

2. AGENDA The WHY The WHAT The HOW Why Business Accounts are important
To E&A
To the Member
The WHAT
What are E&A Business Account Options
Business Accounts defined
The HOW
How we open business accounts at E&A
Activities so you can try it!

3. Why are business accounts important for E&A?
Business Accounts allow E&A to:
Increase share growth
Expand our business into new areas
Increase exposure in the market
Increase profitability for membership

4. Why are business accounts important for the members?
Option for the small business
Better Service
Better Options
Better Prices
Think about why any member comes to E&A
The same for a business!! Getting the best WOW experience created by excellent service & products!

5. Why business accounts are important for E&A?
Future Planning:
Business Account Options –
Various Depository Accounts:
Checking
Savings
Financial Bridges
Services:
Telephone Services
Online Services
Merchant Services
and more………

6. Why business accounts are important to E&A?
Objectives:
Business Account and Commercial Lending Penetration:
We want to appeal to all business types; new, established, large. The Sky Is The Limit!
Diversity is one key in allowing E&A to increase its share growth. It is our goal to become the primary source for our business accounts, as well as, our personal accounts.

7. What are E&A business account options?
Sole Proprietorship
Partnerships
Limited Partnerships
LLC
PLLC
Corporations
Unincorporated Organization or Association
Go to for more business resources

8. What are E&A business account options?
Sole Proprietorship (aka DBA, Doing Business As):
Definition: “One owner” The sole owner assumes all
responsibilities for the business.
Liability: Owner is 100% liable for assets and liabilities.
TIN: Business may operate with a EIN number or their
social security number.

9. What are E&A business account options?
General Partnerships:
Definition: “Two or more owners.” All owners share all
responsibilities for the business.
Liability: Owners have unlimited liability.
TIN: Business will operate with a EIN number.

10. What are E&A business account options?
Limited Partnerships:
Definition: A legal entity which includes a general partner and one or more limited partners. Limited partners invest money in to the partnership however, they do not participate in the daily operations of the business.
Liability: * General Partner has unlimited liability.
* Limited Partners limit their amount of liability to the amount of
capital invested into the partnership.
TIN: Business will operate with a EIN number.

11. What are E&A business account options?
LLC (Limited Liability Company):
Definition: “One or more members” This is a separate legal
entity that combines the limited liability advantage
of a corporation with the tax status of a DBA or
partnership.
Liability: Limited
TIN: Business will operate with a EIN number.

12. What are E&A business account options?
PLLC (Professional Limited Liability Company):
Definition: Same as LLC, however, this legal entity is used by
professionals such as physicians, lawyers, etc.
Liability: Limited
TIN: Business will operate with a EIN number.

13. What are E&A business account options?
Corporations:
Definition: “Stockholders are owners” A legal entity that is the
most structured and formal.
Liability: Limited to the amount owners have paid into their
shares of stock.
TIN: Business will operate with a EIN number.

14. What are E&A business account options?
Unincorporated Organization or Association:
Definition: Any non – profit organization such as bowling league,
Girl Scouts, etc.
Liability: Not applicable
TIN: Entity may operate with EIN only.
If operates with a SSN it is a General Membership with Regular Share and Velocity or Launch checking NOT
a Business Membership with Organizational Share and Checking

15. What are E&A business account options?
EIN vs. SSN vs. TIN
(EIN) Employer Identification Number –
a nine-digit number that the IRS assigns to business
entities.
(SSN) Social Security Number –
a nine-digit number that the IRS assigns to individuals.
(TIN) Taxpayer Identification Number –
a nine-digit number that the IRS assigns to business entities and/or
individuals.
Go to to apply for an EIN!

16. Now it is time to review the various
types of business documentation
you may come across!!!!