At Shell Federal Credit Union, we offer the essential building blocks for businesses of all sizes. This includes a variety of business checking accounts, competitive business investments, enhanced online banking with plenty of extras, local support and access to an expert Investment Advisor.
As a growing business ourselves, we know your needs as a business person, and we work hard to meet them. Our business services are designed to let you spend less time banking—and more time on your business. For info about opening an account...
We understand that no two businesses are alike, so to help make it easy for you, we offer a choice of checking solutions to meet most any need. Whether you’re just starting out or your business is well established and looking for new ways to manage cash, we have the account that is right for you.
 Our Business Basic Checking account is designed for small to mid-sized businesses that process a low number of transactions each month. The business gets up to 50 items processed each month at no charge with the Business Basic Checking!
● $50 minimum opening balance
● No minimum balance required
● 50 items per month at no charge and $0.25 per item over 50
● Free online account access with Access 24
● Free telephone inquiries with Call 24
Our Business Classic Checking account is designed for businesses that process a moderate number of transactions each month. The business gets up to 150 items processed each month at no charge with the Business Classic Checking!
● $100 minimum opening balance
● No monthly fee with minimum daily balance of $1,500
● 150 items per month at no charge and $0.25 per item over 150
● Free online account access with Access 24
● Free telephone inquiries with Call 24
Our Business Checking Plus is designed for businesses that process a high number of transactions each month. The business gets up to 500 items processed each month at no charge with this Business Checking Plus account. Best of all, this account earns dividends on balances of $3,500 or more!
Business Checking Plus allows your balances to work for you.
● $500 minimum opening balance
● No monthly fee with minimum daily balance of $3,500
● 500 items per month at no charge and $0.25 per item over 500
● Free online account access with Access 24
● Free telephone inquiries with Call 24
 Enjoy the convenience of having your business checking account and investments all under one roof. Our business savings and money market accounts offer competitive rates and liquidity to help you manage day-to-day cash flow.
● $10 Opening Balance
● 50 items per month at no charge and $0.25 per item over 50
● Dividends calculated on daily balance
● Dividends paid and compounded monthly
When your regular monthly balance reaches $2,500, talk with us about moving your money to our Business Money Market Plus account, which pays a higher dividend and lets you write checks and use preauthorized withdrawals.
We want you to earn the highest possible dividend, and when you’re a Shell Federal Credit Union business member, you’ve got us looking out for your best interest. Let us work with you and your business to help you choose the account that will work best for you.
 Check with Shell FCU for your business lending needs:
● Corporate MasterCard accounts
● Line of Credit loans
● Commercial Real-estate loans
● Equipment loans (limited)
● Commercial vehicle loans
*must have savings account established in business name prior to applying for any loan product
Shell Federal Credit Union offers its business members several time-saving and money- saving tools to help your business run more efficiently. Processing your payroll through ACH Direct Deposit will help improve your cash flow. Setting up your business’ monthly expenses using ACH Direct Payment can reduce your administrative operating costs, improve your company’s image and enhance the relationships you have with companies and clients with whom you do business.
ACH, also known as ACH Origination is a fast way to get money moved from one institution to another on a recurring basis. ACH origination gives you convenient options to move your money - whether your goal is to set aside the same amount each week/month as savings or you want to process payroll directly from your business accounts, securely and in a timely manner.
Business Benefits for Direct Deposit:
● Reduce costs of buying and mailing checks
● Fewer checks to print and store
● Eliminate lost and stolen checks
● Costs are higher to process paper checks than using a Direct Deposit transaction
● Less manual check handling means reduced potential for errors
● Simplified account reconcilement.
● Your account statement will have a single dollar amount for the total amount of the direct deposit transactions versus individual check amounts to reconcile
● Administration costs reduced with electronic check preparation
● Companies report savings of more than 40 cents in processing costs for each paper check converted to Direct Deposit
● Employee productivity can increase with less time spent away from work cashing or depositing their paychecks.
● Direct Deposit adds more incentive to competitively attract employees.
For employees, direct deposit eliminates a trip to the bank or credit union and frees up lunchtime on payday. Employees who work shifts or who can’t leave the premises during the workday know their paycheck is on deposit and waiting for them. No more worrying about beating their checks to the bank on payday. They are confident that their earnings are in their accounts on time, every time on their scheduled payday - regardless if they are at work, on vacation, traveling or sick.
Save Time and Money. Direct Deposit and Direct Payments can make your
life easier!
Direct Payments allow on-time payments of insurance premiums, utility bills (power, phone, cable, water, etc), maintenance fees, and service dues, just to name a few. Many companies bill for a regular service, such as professionals, (doctors, lawyers, accountants) and can offer ACH as a means of on-time payments. As the float on paper checks has decreased, writing checks is no longer a way to extend posting of debit items.
For Shell FCU Business members, using electronic services means no stamps, envelopes, check fees, late fees, and wasted time spent manually processing checks.
Not convinced ACH will work at your business? When you come in to open your Business account, ask a Business Services Representative to explain just how easy it is to get setup.
Shell Federal Credit Union has partnered with top-rated companies to help businesses, like you, succeed.
One such company is:
● GoldLeaf Technologies, Inc.,
which maintains the computer software programming that will allow businesses to originate ACH transactions.
As an added service, we’ve listed a few trusted online links as valuable resources.
NACHA - The Electronic Payments Association
http://www.nacha.org
The United States Department of the Treasury http://www.treas.gov/offices/enforcement/ofac/index.shtml
Federal Reserve Financial Services
http://www.fededirectory.frb.org/search_ACH.cfm
Electronic Payments.org
www.electronicpayments.org
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