Business Banking
Penn State Federal provides business products for small and large businesses. We offer saving options, checking accounts, Visa debit & credit cards, loans, and employee membership benefits to meet your companies' needs.
Foreign Associations. Foreign filing associations are corporations for profit, corporations not-for-profit, limited partnerships, limited liability companies, professional associations and business or statutory trusts that were created or formed under any laws other than the laws of Pennsylvania. A foreign association may not open an account until it registers with the Pennsylvania Department of State. Visit www.corporations.pa.gov for online filing.
ALL NEW business accounts are subject to a documentation review and verification process before finalizing the account opening.
To open an account ALL Business types must provide for each signer:
- Valid government issued identification
- Photo Identification
- Proof of membership eligibility
- Proof of address (if different from ID, please provide utility bill or lease agreement.)
- See business type below for additional documentation needed
| Business Type | Documentation Needed to Open Account | |
|---|---|---|
| Sole Proprietor | IRS (Employer Identification Number) EIN Letter (if applicable) Registration of Fictitious Name1 (if applicable) |
|
| General Partnership (GP) | IRS (Employer Identification Number) EIN Letter (if applicable) Partnership Agreement2 Registration of Fictitious Name1 (if applicable) |
|
| Limited Partnership (LP) Limited Liability Partnership (LLP) |
IRS (Employer Identification Number) EIN Letter Certificate of Limited Partnership Registration of Fictitious Name1 (if applicable) |
|
| Limited Liability Company (LLC) | IRS (Employer Identification Number) EIN Letter Operating Agreement Articles of Organization filed with the state |
|
| Corporation (For Profit & Not-for-Profit) | IRS (Employer Identification Number) EIN Letter Articles of Incorporation By-Laws Registration of Fictitious Name1 (if applicable) |
|
| Unincorporated Association or Organization (Not-for-Profit) |
IRS (Employer Identification Number) EIN Letter | |
| 1A Fictitious Name Certificate is required for businesses operating under a name other than the surname of the owner(s). A fictitious name is any assumed name, style, or designation other than the proper name of the entity using such name. The term fictitious name includes a name assumed by a general partnership. An entity is defined as "any individual or any corporation, association, partnership, joint-stock company, business trust, syndicate, joint adventureship or other combination or group of persons, regardless of whether it is organized or formed under the laws of this Commonwealth or any other jurisdiction." A proper name of an association (domestic or foreign) is the name set forth in its organizational/registration documents filed with the Department of State. Therefore, any individual, sole proprietorship, partnership, corporation, limited liability company or other form of association conducting commercial activities under a name other than its/his/her real or proper name must register this name with the Pennsylvania Department of State. 2A General Partnership with no Partnership Agreement, is governed by the Uniform Partner Act. |
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For full details on all our accounts see MBS Rate & Fee Schedule (PDF, opens new window) (PDF, opens new window). If you have specific questions regarding any product or service, please contact our Business Services Staff today!
For questions about Employee Membership Benefits, call 814-933-1668 or email partners@pennstatefederal.com.