Business Accounts
As a local financial partner, MCCU is committed to helping businesses in our communities thrive. Our business accounts offer convenient banking solutions backed by knowledgeable service and a commitment to your success. Whether you're a small business owner, entrepreneur, or established company, we're here to help you reach your goals.Â
Savings Account
Unlike other financial institutions, MCCU requires a minimal opening deposit for our business members. No asterisks, no hoops to jump through, just a straight forward savings account that will help set your business up for success.Â
- $5 minimum deposit to open
- Interest-bearing account on balances of $300Â or more
- The account you need to access all other business products and services
- 24/7 account access through online banking and MCCUÂ MobileÂ
- Insured by the NCUA up to $250,000
Business Checking Accounts
Your checking account is where the daily action is at. You use your checking account to pay bills, make purchases, and manage daily financial operations. Since no two businesses’ needs are the same, we offer a variety of Business Checking accounts to ensure we meet your unique needs.
Community Choice Checking
Introducing our Community Choice Checking Account, tailored with small businesses and nonprofit organizations in mind. You’ll enjoy convenient access to essential banking services, all designed to support your financial goals. With straightforward terms and features crafted to empower your organization, the Community Choice Checking Account is the ideal solution for businesses looking for a reliable and cost-effective checking account.
To qualify for the Community Choice Checking, a business member must be a non-profit organization OR meet two of the following requirements:
- Low average monthly balance – determined as a 180-day average balance that is below $1,000
- Low transaction count – determined as an average transaction count less than 50 per month
- Has no employees – you will need to determine if the business has employees by asking the member directly
Business Basic Checking
With a focus on simplicity and efficiency, this account provides the tools you need to manage your finances effectively. Enjoy easy access to a range of banking features designed to support the day-to-day operations of your thriving business. The Business Basic Checking Account is the no-nonsense solution for businesses seeking practicality and reliability.
Business Plus Checking
Our Business Plus Checking Account is tailored for larger businesses that maintain higher monthly cash balances. This interest-bearing account ensures your business’s funds work harder for you. Earn interest on balances over $5,000 while enjoying the convenience of top-tier banking services.
Business Loans
If you own a business and you’re looking for a partner to help you grow, look no further than Monroe Community Credit Union. As a local, member-owned financial institution, banking is what we do, but supporting our community is our passion.
Current business members with commercial loans click here to access your loan online.
 Speak to a Business Lending Officer
Commercial Real Estate Loans
- Can be Owner-Occupied or Investement Real Estate
- Construct or purchase new property, refinance existing property or expand your facility
- Competitive rates and terms
- Secured by a commercial property, such as an office building, warehouse, retail center
Small Business Administration (SBA) Backed Lending Options
- U.S. Small Business Administration backed financing designed to support business growth, expansion, and real estate investment through the SBA 7(a) loan program.
- Flexible funding for working capital, equipment, business acquisition, refinancing, and commercial real estate
- Long-term financing options for major fixed assets such as owner-occupied commercial real estate and equipment
- Potential for more flexible qualifications compared to conventional financing
- Lower Down Payments: Reduce upfront costs compared to convetional loans.
- Flexible Uses: Finance start-up costs, purchase equipment, aquire real estate, or cover working capital needs.
- Longer repayment terms to help improve monthly cash flow
- May combine traditional bank financing with SBA-backed support
Secured or Unsecured Term Loans - A great option for business owners looking for the predictability of a set monthly payment.
- Set monthly payment
- Great option if you're making a one-time purchase such as machinery, equipment, and vehicles
- Allows you to spread out the cost of equipment required to run your business
Line of Credit - May be a better fit if you're looking for flexibility and the ability to purchase business necessities for your company on an ongoing basis.
- Flexible access to funds
- Revolving and closed-end options available
- Great for financing periodic, short-term financing needs
- Allows you to control your business cash flow
- Gives you easy access to working capital
- Manage seasonal fluctuations in cash flow
- Gives you the opportunity to make strategic inventory purchases
- Unlike a traditional loan, only pay interests on the outstanding amount
Platinum Business Mastercard – Qualified by personal income and personal credit score to acquire a personal loan used for business purposes.
- Lines of credit available starting at $500
- Keep things organized and make business purchases on one cardÂ
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If you would like more information about our business lending solutions, please contact one of our Business Development Officers:
Brian Millican at (734) 384-2716 or bmillican@monroecommunitycu.org
Rob Thomas at (734) 244-0220 or rthomas@monroecommunitycu.org