Brooklyn Coop Federal Credit Union can help you apply for an Individual Taxpayer Identification Number (ITIN) and open a bank account in one visit.

 

Do I need an appointment?

You can come to our branch at 282 Chestnut Street in East New York anytime during our hours of operation – Wednesday through Saturday 9am to 2pm – no appointment necessary. If you prefer to visit our branches in Bed-Stuy or Bushwick, please click here to schedule an appointment.

 

What do I need to bring?

To apply for your ITIN & open an account you need:

• Unexpired passport (valid for the next 6 months)
• Proof of address, which can be any mailed correspondence or a bill. If you reside with an organization or receive mail there, you can ask them to provide you with a letter as proof.
• $100 minimum ($70 ITIN fee, $25 membership fee, $5 minimum deposit for your Bk Coop savings account)

 

What type of account will I be opening?

We offer savings and checking accounts, which are detailed below. Once you open your account you can begin using it right away, and you will have access to our online banking app and website. Your money is insured up to $250,000 by the federal government.

 

Personal Savings

• 0.25% on funds up to $10,000, 0.15% on funds greater than $10,000
• No monthly fee
• Free online bill pay and mobile banking
• Optional ATM card – $1 each ATM withdrawal
• Debit transactions not available with this account

 

Personal Checking

• ATM/debit card
• 4 free ATM withdrawals each month; $2 thereafter
• Unlimited debit transactions
• Free online bill pay and mobile banking
• $6 monthly fee if the average monthly balance falls below $800.

 

What will happen at the appointment?

An appointment will last from 30-40 minutes. We will review your documents, work with you to complete the forms needed for the ITIN, and prepare a package to be sent to the IRS (Internal Revenue Service). We will set up your new bank account, and you will deposit at least $5 into your new account. We will collect the account opening and ITIN application fees. Once your ITIN application is processed, the IRS will mail you the ITIN within 8 – 12 weeks.

 

Will my information or immigration status be shared with anyone?

We care about your safety and your information is confidential – we do not share any of your information with outside agencies.  Also, by law, the IRS is prohibited from sharing information about ITIN applicants with any other federal or state agency.

 

What if I do not have a passport?

If you do not currently have a passport you cannot apply for an ITIN. However, you can still open a bank account. We can accept other unexpired government issued photo IDs.  You can also apply for a personal loan with us up to $5,000.

 

Will I be able to pay taxes?

You will use your ITIN to pay taxes on any earned income in the upcoming tax season (January through April). You may qualify for the Child Tax Credit for each child under 17 years of age.

Tax experts from our affiliate Grow Brooklyn have experience working with new immigrants, first-time filers, and those preparing for immigration court. For more information email setp@growbrooklyn.org.

 

Additional questions or concerns?

Call us at 718-418-8232 or reach out to membership@brooklyn.coop.