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Becoming a member of Business and Industrial Federal Credit Union means that you are becoming an owner of the credit union! Every year the credit union has an Annual Meeting at which the members elect a board of directors. The board of directors represent members’ views and interests throughout the year and help direct credit union activities according to the law. Effective June 15, 2004, Business & Industrial became a community credit union. Business and Industrial has proudly been serving members since 1960, and is now able to offer this same outstanding, personalized service to those individuals who meet any of the following:
- Live, work, worship or attend school in, as well as businesses and other legal entities located in Bartholomew, Jennings and Jefferson counties in Indiana
- Members of this credit union as of June 15, 2004
- Spouses of persons who died, while within the field of membership of this credit union
- Volunteers within the community
- Members of the immediate family or household
- Employees of this credit union
- Organizations of such persons.
Becoming a Member
After your membership application has been approved by the credit union an account of at least $5.00 must be established and maintained. To earn the annual percentage yield, an average daily balance of $50.00 must be maintained. If your account is inactive for a period of six or more months you will be assessed a dormant fee of $15.00 every six months. Quarterly statements are mailed to all members to help with accurate record keeping of your account. These statements should be retained for general information and also for tax purposes.
- Acceptable forms of Government-issued identification are:
- State issued I.D. card (Issued by the Bureau of Motor Vehicles)
- State issued driver’s license
- Passport with recent photo
- Birth Certificate when accompanied by another form of photo I.D.
- Military entry papers/Military Photo I.D.
- Social Security card accompanied by another form of photo I.D.
- U.S. Immigration and Naturalization Service Permanent Resident Card
- Mexican Consulate photo I.D. card
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
“To help the government fight the funding of terrorism and money laundering activities, Federal Law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, physical address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. In addition, on legal entity accounts, we will require identification on beneficial owners and controlling person.”