401-739-4600
866-739-9121
Business Banking
Share Savings (Business Savings)

A GCU Share 1 Savings Account is required to be a member, this account offers many features:

  • For Current Rates Click here
    For current rates click here
    Minimum balance to open $5
  • Minimum balance to earn interest $25
  • Free ATM card
  • Free online banking
  • Free telephone banking
  • No limits on deposits or withdrawals
  • Free use of GCU coin machine
  • Direct Deposit available
  • Free automatic transfers to pay GCU loans and mortgages
  • Quarterly statements by mail or electronically
  • No quarterly maintenance fees

For important account information click here
For our current fee schedule click here

To open an account, please contact our member service department at 401-739-4600.

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Certificate of Deposit (CD)

GCU offers CDs with terms from 3 months to 5 years.  Here are some of the features:

  • For Current Rates Click here
    For current rates click here
    Minimum balance to open is $1,000
  • Interest on CDs are compounded daily and credited monthly
  • Additional deposits are not allowed during the term of the CD
  • Penalty of six months interest for early withdrawals
  • Rates are locked for the period of time chosen and at maturity will be rolled over for the same term at the current interest rate
  • CDs will automatically renew at maturity, you have seven (7) calendar days to withdraw funds from the account without penalty or make additional deposits

For important account information click here
For our current fee schedule click here

To open an account, please contact our member service department at 401-739-4600.

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Business Checking

GCU offers business checking accounts that will fit your needs:

  • For Current Rates Click here
    For current rates click here
    No minimum balance requirement
  • Free VISA debit card
  • No charge for each check deposited
  • No charge for coin orders
  • No charge for coin deposits
  • Unlimited night deposits after purchase of the bag for $25
  • Free online banking
  • Free telephone banking
  • Free automatic transfers to pay GCU loans and mortgages
  • Free automatic payments of loans and mortgages at other institutions

For important account information click here
For our current fee schedule click here

To open an account, please contact our member service department at 401-739-4600.

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Remote Deposit Capture

Remote deposit capture is a virtual teller (v-teller) service offered to our business members allowing you to turn checks that you receive from your customers into electronic transactions much like receiving a credit card or debit card payment. This service provides you with the following benefits:

  • Eliminate trips to the credit union
  • Fast access to available funds
  • Quick response for NSF (non-sufficient funds notification)

There is a one-time cost for the remote deposit capture machine.  GCU does not charge any monthly maintenance fees for this service.

For additional information or to sign up for this service please contact Joslyn Clemm, Senior Member Service Representative at 401-562-2711.

 

 

 

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Business Loan Products
Commercial Real Estate

Whether it is to purchase investment real estate or to refinance an existing commercial property you own, we offer competitive rates and terms to best suit your needs.  Greenwood Credit Union offers commercial real estate financing for multi-unit investment properties, apartment complexes, commercial real estate, medical or office buildings, mixed-use real estate, as well as commercial construction projects. 

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Vehicle/Equipment Term Loans

Commercial term loans are used for the purchase of fixed assets or to finance capital expenditures at competitive rates and flexible terms (typically between 3 and 10 years).  Term loans are most often used to make leasehold improvements or to purchase machinery, equipment or commercial vehicles. 

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Lines of Credit

Lines of credit can be secured or unsecured, and are used to cover short-term business cash flow needs, support business seasonality, inventory purchases and more.  Use funds as you need it, pay it off when you don't.  With a business line of credit, you only pay interest on what you use.  The SBA Express loan program is also a useful resource for lines of credit for small businesses. 

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SBA Loans

With financing available up to 90%, the Small Business Administration (SBA) loan programs offer many advantages to a small business owner.  We are an approved SBA 7(a), 504, and Express loan lender.  There are SBA loan programs available for many business purposes, including the purchase of owner-occupied commercial real estate, purchase of machinery or equipment, or working capital.

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Commercial Forms and Documents

Get Started Today

Below are forms and documents that you may find helpful in preparing your application:

For more information, contact Holly Pettis, Vice President of Commercial Lending at 401-562-2784 or via e-mail at hpettis@greenwoodcu.org.

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