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Student Organization New Account Opening Checklist

Thank you for entrusting ASECU with you organization's account needs. We have been a presence on campus for many years, and stand ready to partner with you to help your organization succeed! Not all organizations are the same, but regardless of structure or purpose, all accounts involve some documentation. Documentation needed depends on the structure of your organization, whether it's an entity incorporated under Ohio law, a chapter of a National organization, or a simple unincorporated association of students. If you are not certain, please contact us - we can help you determine what documents your organization needs to open an account at ASECU.

If you are just getting started and have not yet established your organization, you may first want to seek the advice of a qualified professional, such as an attorney or accountant. They can help you determine what structure best suits your needs, understand potential liabilities, and may help you process any needed paperwork.

If you have any questions about opening an Organization account with ASECU, please visit or call our YSU office in Tod Hall at 330-792-4000 or 330-941-3204. Contact the YSU Branch Manager. 

NEW STUDENT ORGANIZATION ACCOUNT CHECKLIST

  1. Obtain a Federal Taxpayer ID (a.k.a. EIN or Employer Identification Number) from the IRS. NOTE: Unless you have incorporated your organization under Ohio law, are a chapter of incorporated National organization, or a 501(c)3 nonprofit, you will likely be considered an “Unincorporated Association.” If your organization is incorporated, please consult the credit union for additional documentary requirements.
  2. Complete the Resolution and Agreement for new organization accounts. This is the organization’s authority to allow the Credit Union to open the account. It will list the current officers or persons with authority in your organization. This document must include all the persons who will be account signers, and be approved by the organization and certified by the acting Secretary.
  3. Complete a Student Organization Membership and Account Application. All signers must present a YSU ID and a current Driver’s License and pass a ChexSystems® verification. 
  4. Your Organization's new share (savings) account requires a minimum deposit of $5.00 to keep the account in active status, and a minimum checking account deposit of $20.00 before checks can be issued.

CHANGING ACCOUNT SIGNERS CHECKLIST

  1. Complete the Resolution and Agreement for new organization accounts. This is the organization’s authority to allow the Credit Union to open the account. This document must include all the persons who will be account signers, and be approved by the organization and certified by the acting Secretary.
  2. Complete a new Student Organization Membership and Account Application. All signers must present a YSU ID and a current Driver’s License and pass a Chex Systems verificaion. 
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