Driving 101 | Small Business Banking with Columbia CU

Manage your finances when and where it’s most convenient to you.

• Funds transfer, e-statements, check ordering, bill pay, custom reports
• Add sub-users to help manage your accounts
• Manage finances for multiple businesses under one log in
• Track and report your monthly business expenses with QuickBooks
• Send wire transfers with multi-factor authentication and added security
• ACH Origination for employee direct deposit and payments to customers and vendors
• Once enrolled, download the Columbia Credit Union app to make life even easier: App Store, Google Play

View a demo of our Online Business Banking here. To enroll, complete the Designation of Business Online Banking Administrator form and take it into a branch or call our Contact Center to complete the form via e-signature.

Streamline payroll, vendor, and tax payments.

• Reduce administrative costs, save time, and improve efficiency in direct deposit payroll, electronic vendor payments, and tax payments
• Create Wire and/or ACH templates

Skip the trip to the branch and deposit your checks whenever you like.

• Deposit large numbers of checks quickly with a scanner
• Or download the Columbia Credit Union app to use a “deposit capture” with your phone camera
• Once you have confirmed the deposited funds have been credited to your account, simply store the check for 30 days before destroying it

Check Positive Pay and ACH Positive Pay is offered to business members through Business Online Banking.

This service gives our business members an extra layer of fraud protection on their accounts, giving them an opportunity to review checks and ACH items that are clearing their accounts that don’t match what was issued.

Save time and add more security to domestic and international wire transfers.

• Initiate domestic wires through Online and Mobile Banking, by phone, or at any branch
• Use templates for efficient recurring wires or initiate free-form wires for one-time payments
• Receive email notification of wires received

Attract and retain quality employees with our financial tools and programs.

• Group retirement programs
• Executive bonus plans
• Group life and supplemental insurance programs
• Financial education seminars

Deposit money at a branch after business hours without using an ATM.

Expand your customers’ payment options through our partner vendor.

• Accept credit cards, debit cards, electronic checks, gifts cards, and mobile payments
• Available wherever your business operates: online, retail store, fax, phone, or mail
• Offered through Total Merchant Concepts, a trusted partner that has been processing payments for more than 20 years

Learn more about merchant services here.

Our Analysis Checking Account provides an Earnings Credit Rate (ECR) to offset some, or all, of your monthly costs for services.

• This account type is common for businesses with higher balances and account activity
• At the end of each month, in addition to your standard account statement, an Analysis statement will be provided with a summary of your services and transaction volumes.
• The ECR is calculated on your average daily balance, and provides a credit towards the account costs, then only the net fee is deducted from your account.

If your company uses a Line of Credit on a regular basis, this service helps make advances and payments automated.

• At the end of each business day, the system will determine the total funds received in deposits, minus the amount needed to cover all of the checks and electronic withdrawals. Then the Credit Sweep service will advance the exact amount needed to bring your account back to the target balance.
• If there’s an excess balance after all of the transactions clear, then a payment will automatically be made.
• A one-way Sweep is also available for overdraft protection.

This account is perfect for keeping incoming deposits separate from main accounts, or having a payroll or petty cash account that’s only funded when checks clear.

• Our Zero Balance Account service automatically transfers funds at the end of each business day back to the original balance you choose—either a zero or target balance.
• Until that time, the funds remain consolidated in your general operating account.
• This service will allow you to segment duties, so you can limit employee access to payments and deposits received, or to paid checks and withdrawals when used for a disbursement account.