Business Overview & Eligibility
The Services You Need From The Credit Union You Trust
Why Choose Freedom for Your Business?
Freedom is local, just like you. We’ve been serving the local community for over 70 years, and we know our local communities. We have the business expertise to help you “cross the i’s and dot the t’s” to start and run your business successfully. Beyond that, we have the local knowledge that you can leverage to grow and thrive here.
As a Credit Union, we don’t answer to stockholders, we answer to our members. We are a not-for-profit co-operative. As such, our focus is on providing competitive products and services, reasonable loan rates, and low fees.
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Checking & Savings
Manage your money to keep your business moving
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Loans
Flexible options to finance your business expenses
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Credit Cards
Simplify and organize purchasing with a Business Credit Card
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Business Services
Automate and streamline your business with our mobile app and other products
Eligibility
DOES MY BUSINESS QUALIFY?
Businesses located in Baltimore City, Baltimore County, Carroll County, or Harford County are eligible for membership with Freedom.
BUSINESS ACCOUNT CHECKLIST
To better assist you and your company, the following is required to open a business account:
- Employer Identification Number (EIN) (An IRS Letter of Issuance or proof may be required)
- Mailing and physical address of the business
- Personal identification for each signer
ALL IT TAKES IS ONE DOLLAR
Establish a business membership with a $1.00 deposit into a Business Savings Account
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Sole Proprietorship
Sole Proprietorship
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Limited Liability Company
Limited Liability Company
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Corporation
Corporation
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Partnership
Partnership
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Nonprofit Organization
Nonprofit Organization
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Organization, Club or Unincorporated Association
Organization, Club or Unincorporated Association
Required Documents
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Sole Proprietorship
-Current Trade Name Certification, if applicable
-Maryland Business License, if applicable
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Limited Liability Company
-Articles of Organization
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Corporation
-Articles of Incorporation
-Corporate Resolution, if applicable
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Partnership
-Partnership Agreement
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Nonprofit Organization
-Articles of Incorporation
-Certification of Nonprofit Status (e.g. 501(C)3)
-Resolution of Authority, if applicable
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Organization, Club or Unincorporated Association
-IRS Letter of Issuance required with EIN
-Resolution of Authority, if applicable
FAQ
EIN stands for Employer Identification Number. Just as a social security is a unique number for an individual, an EIN is a unique number to identify a business entity, organization or club.
An EIN can be obtained online for free at www.irs.gov.
A Trade Name is the name under which a business entity operates. A Trade Name can be used by any business entity and must be registered with the State of Maryland in order to be used.
Applications can be found at the Maryland State Department of Assessments and Taxation online at www.dat.state.md.us/.
Meet Our Team
Thank you for your interest in Freedom’s Business Banking! Our dedicated team of business banking specialists are ready to assist you.
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Bob Wehland
Title: Senior Vice President Business BankingBob has over 20 years’ experience in banking management. He oversees the management and servicing of Freedom’s business loan and deposit portfolios. Bob’s expertise includes total profit and loss tracking, budget preparation, expenditure control, sales growth and team performance.
1-800-440-4120 ext. 3102