Entity Accounts – Setup

Co-op Account Management

How do we setup an entity account?

You will need to complete the Entity Account Application to open the account.

Entity Account Setup Tips:
  • You may need to include corporate governance documents such as Articles of Incorporation, Corporate Resolution or Partnership Agreement depending on the type of account you are opening.
  • Federal regulations require us to ask for beneficial ownership information for each entity account. Beneficial owners are defined as:
    • Owner – each individual, if any, who owns, directly or indirectly, 25% or more of the equity interests of the legal entity customer.
    • Control – an individual with significant responsibility for managing the legal entity (e.g., a Chief Executive Officer, Chief Financial Officer, Chief Operation Officer, Managing Member, General Partner, President, Vice President or Treasurer).

You must include all Owners (if any) that meet the 25% criteria, and you must list at least one Control. If one individual satisfies Control and Ownership criteria, you can identify that on the application.

  • You may link a cooperative-owned bank account to your Entity Account by completing that section of the application.
  • The Authorized Agents listed on the application will be authorized to make investment decisions and transactions.