Frequently Asked Questions
Does Alaska USA Federal Credit Union allow accounts for businesses in the marijuana industry?
While some states have recently legalized marijuana, not all states in which Alaska USA operates have done so, and the Federal Government continues to classify marijuana as a controlled substance. Since Alaska USA is federally chartered and federally insured, we do not allow for business accounts that engage in, or personal accounts that are directly involved in the ongoing operations of a marijuana related business or dispensary.
Are start-up business loans available?
Yes, through the Small Business Administration. Discuss your options and next steps with an Alaska USA Member Business Development Officer.
- Anchorage: (907) 646-6670
- Fairbanks: (907) 374-5417
- Other Alaska locations: (877) 646-6670
- California: (760) 810-7449 or (888) 722-8293
Can a business become a member of Alaska USA?
Yes. Alaska USA serves thousands of member businesses. Currently, Alaska USA offers a full array of services including business checking, lending, and depository services.
Service availability varies by region. Contact your local office for more details. In Washington state, business accounts are currently limited to sole proprietors.
Can an organization or association become a member of Alaska USA?
Yes. Your organization or association can qualify at any branch and take advantage of business checking and depository services. Nonprofit organizations using Alaska USA's business checking account will have the $5 monthly maintenance fee automatically waived, regardless of balance.
Do I have to be an Alaska USA member to open a business account?
Do I have to open a business account with Alaska USA to obtain a business loan?
If you are an Alaska USA member and the business loan will be in your name you do not need a new account.
If you want the loan made in your business name, the business must have an active account at Alaska USA.
Does a Business Checking account pay dividends?
Yes, depending on the amount on deposit. A dividend is calculated for each day that you have at least $1,000 in your account and it is paid monthly. So there's no need to “sweep” your funds nightly to another account, as you may have to do at some other financial institutions. Plus, the more you have on deposit, the higher the dividend rate!
Does Alaska USA have a special account for nonprofits?
No. But nonprofit organizations and associations using Alaska USA's business checking account will automatically have the $5 monthly maintenance fee waived, even if the account balance falls below $1,000 during the calendar month.
This maintenance fee waiver does not apply to nonprofit corporations.
Does Alaska USA offer card processing services?
Alaska USA doesn't offer these services directly. However, fast, dependable, and accurate card processing is fundamental to business financial services. That's why Alaska USA has identified Cornerstone Credit Services to meet your business needs for affordable Visa®, MasterCard®, American Express®, Discover®, and Alaska Option® card services.
How do I apply for a business or commercial loan or line of credit?
Complete application instructions are available online, including documentation requirements.
Business lending services vary by region. Contact your local office for more details.
How do I sign up for business checking and depository services?
Its easy to open a business account at Alaska USA.
Is overdraft protection available on a business checking account?
Yes, you may set up overdraft protection from an Alaska USA savings or money market account, or a business line of credit.
What do I need in order to make a business deposit?
- Depository bags – Alaska USA will provide you with free depository bags, each with its own serial number to help you track deposits.
- Deposit tickets – You'll also receive free deposit tickets where you may list coin, currency and checks. An initial supply of deposit tickets is provided for your use until you receive tickets imprinted with your business information.
- List of checks – You'll need to provide a printed tape listing of the checks in your deposit.
- Depository access card – Free depository cards allow you or your authorized employees access to any Alaska USA ATM business depository.
- Endorsement stamp – You'll need an endorsement stamp in order to properly endorse your deposited checks.
What kind of documentation should I provide in order to open an account?
What services are available to businesses?
Alaska USA offers business checking, Visa® check cards, loans, lines of credit, business depository services, UltraBranch® Business Edition online services, and card processing services. Service availability varies by region. Contact your local office for more details.
What's the most convenient way to make a business deposit?
When you open a business checking account, you can receive depository access cards and special bags to use when making deposits. Depository cards give you and your authorized employees access to 24-hour ATM business depositories available at many Alaska USA locations.
When does Alaska USA require a business plan?
If you are a start-up business or have been in operation for less than one year, you will need to submit a copy of your business plan to Alaska USA when applying for a business or commercial loan.
Learn more about applying for a business loan.
Where are business depositories located?