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We’re gearing up for one of our favorite events of the year! Come check out... Read More May 4, 2016
Ask us about small loan programs that can help them get started out the right... Read More May 3, 2016
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Learn about some of the strangest products that got investments on the ABC show Shark... Read More April 29, 2016
Double congratulations to the amazing Marcy! Her co-workers chose her as the winner of this... Read More April 28, 2016
I’ve never heard these ones before! Excuse me while I go drill holes in my... Read More April 26, 2016
Business Owners: Join our free community seminar for tips to improve your web presence! If... Read More April 25, 2016
It’s time for more TICKETS! We have two pairs of tickets for this Sunday’s game!... Read More April 25, 2016
Read More April 25, 2016

Featured

We Love Sherri, Yes We Do!

sherri_ram

Meet Sherri. This April, she has worked at Great Basin Federal Credit Union for 15 years! We asked her to take a minute out of her busy day in the Loan Department to tell us all a little about herself.

  • Favorite movie:  A Christmas Story, I can watch that anytime of the year and love it.
  • What superhero would you be and why: I would be Elastigirl!  She has the ability to stretch, deform, expand or contract her body into any form imaginable and that’s just cool.  She is also still just a mom and looks after her family with fierce passion (the way I feel about both my family and my GB family).
  • Funniest thing that ever happened at work: Too many to name, at least once a day I am brought to tears from laughing.
  • Little known fact/fun fact about me: I’m in love with Grumpy Cat, she’s so funny with all of her grouchiness

Sherri’s boss, Jennifer, had this to say about her:

Aren’t we lucky to have a gal like Sherri.

Congratulations to her on this huge accomplishment! Thank you for 15 great years. Here’s to 15 more!

How to Open a Business Checking Account

business checking account

Owning and running and business involves a lot of moving parts and responsibilities. One way you can put your mind at ease is opening a business checking account with an institution you trust.

What to Look For in a Business Checking Account

business checking account

As you look into finding the perfect business account, you want to make sure that you are getting the services you need. Not every business needs the same services from a business checking account. Does the bank or credit union offer different services or add-ons, depending on if you are a non-profit or a small business run by just you? These are things to think about before you open up a business checking account. You will also want to look at a business checking account’s fee structure. Are the fees high compared to other institutions? Is there a monthly fee for a service that you don’t even use?

When you open a business checking account with a credit union or bank, you may also want to keep the future of your business in mind. Establishing an account can help you with keeping your personal funds and business funds separate, which helps for tax purposes and minimizes liability. Establishing an account can also set you up for taking out a small business loan in the future when you want to expand or upgrade a part of your business!

How to Open a Business Checking Account

Before you open a business checking account, you will need to have your ducks in a row. What does this mean for you? You will want to bring in proper paperwork that establishes you as the business owner and your business as legitimate. These required documents could include your business license, your DBA “doing business as” fictitious name, your business’s Tax Identification Number, and a business address for the business checking account.

Additional required documents will depend on what type of business you own. If you are the sole owner of your business, there is less paperwork to bring when you open your business checking account. If you are part of an LLC in Nevada, you want to make sure you bring an Operating Agreement to show manager’s authority and a recent annual list of members and managers that was filed with the Nevada Secretary of State.

Types of Business Checking Accounts at Great Basin FCU

business checking account

At Great Basin Federal Credit Union, we have different business checking accounts tailored to various businesses and their needs. If you have a not-for-profit business, our Non Profit Business Account works for your business. There is no minimum balance required. Great Basin also offers a Sole Proprietor Account as well as a Business Account for Corporations, Partnerships, or Limited Liability Companies.

The best business checking account option with Great Basin FCU is our Core Business Account. Your business can qualify for the Core Business Account if you use at least three of Great Basin FCU’s services:

  • Personal Core Account
  • Business Visa Credit Card
  • Business Loan
  • Average Daily Share Balance of $2,500+

When you open a Core Business Account with Great Basin FCU, your business enjoys perks like no monthly service fees, free cashier’s checks, and a $50 credit towards check orders each year.

Learn more about business accounts at Great Basin Federal Credit Union to find that our business accounts offer for your business banking needs. Call or stop by to start the process of opening up a business checking account at Great Basin Federal Credit Union today!

Happy National Credit Education Month!

credit score

March is officially National Credit Education Month! Our team at Great Basin FCU decided there couldn’t be a more appropriate time to talk about credit. Learn how to build and repair your credit with some credit education tips from yours truly!

Credit Score Education

Your credit score can seem like an arbitrary number, but that pesky three-digit number can have real consequences for your financial future. There are a few different agencies that calculate your credit score, so it will depend on which agency is used. So what does your credit score mean? Your credit score is a number associated with the borrower’s (your) risk. If a financial institution like a bank or credit union were to lend to you, how likely is it that you will pay a loan back in full and in a timely manner?

credit score education

Your credit score is a three-digit number that ties to your financial responsibility and credit history.

How do you know if your credit score is good or bad? Credit scores can technically range from 0 to 850, though credit scores will most commonly land between around 400 and 800. A good credit score is on the higher end of the spectrum, and a poor credit score will be lower. A credit score of 720-850 is considered excellent, and a credit score above 690 is good. If your credit score is below 690, this may indicate some credit problems such as late payments on a credit card or loan in the past or maxed out credit limits. A score of 350-650 indicates a damaged credit history, perhaps from a bankruptcy, collections, or a combo of many things.

Whether you have no credit history or a poor credit score, you can work to build up your credit score. It is possible to improve your credit score — it just takes some time and effort!

Building Your Credit

credit education

There are a few different tactics you can use to approach building or improving your credit. At Great Basin FCU, a great option for improving your credit is our ReBuild Together Loan, tailored specifically for young adults with no credit or adults with a damaged credit history.

This type of personal loan at Great Basin FCU is tailored specifically for credit union members with poor credit or no credit history at all. We lend you an amount between $1,000 and $3,000 for a term between a year and three years. The money we lend goes into a special savings account until you have made your payments to fulfill the loan. At the end of the loan term, you’ll have the money you paid in plus a good payment history on your credit.

Consider a ReBuild Together Loan for your 18-year-old to help him establish a good credit history before he even starts paying off student loans or getting high interest rate credit card offers.

Credit Education for Young Adults

It is much easier to learn about credit slowly but surely than to learn the hard way and hurt your credit score. At Great Basin FCU, education is one of our Core Values. Credit education for young adults matters to us at Great Basin FCU, so we spend a considerable amount of time on this topic. Our Youth Focus Committee travels out to schools to start the credit conversation in the classroom! Our team teaches kids about money, including topics like credit.

Happy National Credit Education Month from our Great Basin FCU family to yours. We are here to help you learn how to improve your credit and learn more about credit with these credit education tips!

An Update on Kasasa Products

gbfcu kasasa accounts

It has been a few months since Great Basin Federal Credit Union introduced the Kasasa products like Kasasa Cash, Kasasa Cash Back, and Kasasa Tunes. We wanted to take a moment and let you know how it’s going!

A Refresher on Kasasa Products

kasasa tunes

Music lovers love Kasasa Tunes!

Kasasa products offer the benefits of a larger financial institution without you as an account holder losing the quality customer service of a local credit union. Kasasa accounts at Great Basin FCU are free, reward-based accounts that require no minimum balance in order to start earning rewards.

Kasasa Cash is a great high-interest checking account option to help you save money. Kasasa Cash Back is perfect for members who want rewards and use their debit cards frequently. Kasasa Tunes gives you rewards in the form of downloads on iTunes, Amazon.com, or Google Play. Kasasa Tunes is a great account choice for a music lover or app fanatic.

The Benefits of Kasasa Products

Nearly 1,000 of our credit union members at Great Basin FCU have switched to Kasasa accounts and started earning rewards each month for doing exactly what they had been doing before the switch! We love seeing our credit union members getting perks without having to even change how they use their money!

gbfcu kasasa accounts

What is even more exciting for us? So far, we have given back over $30,000 in cash rewards to our credit union members with Kasasa. We are elated to know our credit union members are reaping the benefits of these new financial products at Great Basin FCU!

Rewards with Great Basin FCU

At Great Basin Federal Credit Union, we want to provide a great experience for our credit union members and give back to the community. We continue to strive for improvement of the credit union experience and treating our members like people instead of account numbers.

Open up your Kasasa account at Great Basin Federal Credit Union today!