Brooklyn Coop will allow informal associations to open business savings accounts. Often these types of accounts are used by church clubs, tenants wishing to escrow their rent, or individuals who have not yet obtained their EIN. Note that an association must have an EIN in order to open a checking account.
Minimum Required Documents To Open a Business Account for Association, Organization, Clubs
- Organization Resolution: a letter authorizing the opening of an account, listing the signers of the account, and signed by the governing member(s).
- Government Issued Photo ID and SS card/ITIN letter for all signers of the account
- A piece of mail as proof of address