Owning A bsiness Step-By-Step Gide to Financial Sccess CONTACT US For more information abot any of the services in this brochre, call 1-888-845-1850, visit or website at bsiness.mac.com or stop by the branch nearest yo. LB-0811 Federally insred by NCUA Prodcts for Life
insrance When starting yor own bsiness, yo re probably hoping to secre a rewarding ftre for yo and yor family. Yo can begin planning yor ftre today with retirement and investment plans from LPL Financial Services, Montain America s broker/dealer. With LPL Financial Services available at Montain America, yo can choose from a wide range of investment options, inclding: Traditional & Roth IRAs. 401(k) Plans. Stocks & Bonds. Mtal Fnds. Make sre yo and yor bsiness are prepared for the ftre by calling s today at 801-325-6260 or toll-free at 1-800-540-7670 to set p yor FREE consltation. For more information, visit or website, www.mac.com. Investment Representatives registered with Linsco/ Private Ledger Financial Services. Secrities and Insrance prodcts offered throgh Linsco/Private Ledger and its affiliates, member FINRA/SIPC. Investment and Insrance prodcts are not credit nion deposits, are not insred by the NCUA or any federal government agency, are not obligations of or garanteed by a bank, credit nion or Linsco/Private Ledger, and are sbject to investment risk, inclding possible loss of principal amont invested. 21 Owning a Bsiness Fixed & Variable Annities. Asset Accmlation & Allocation. Real Estate Investment Trsts.
3 7 11 15 19 21 getting insrance 1 Rnning yor own small bsiness can be a life-altering Owning a Bsiness experience. It takes desire, commitment and hard work. That s why it s important to find a financial instittion that nderstands yor vision and can help yo achieve yor bsiness goals. Montain America can be yor trsted small bsiness partner. No matter where yo are in yor plannning, we have all the financial tools to help yo start or expand yor bsiness.
insrance 2Montain America Credit Union getting Congratlations! So yo ve decided it s time to implement that big idea and become yor own boss. Now yo jst have to get the ball rolling and that can be a big task. There s so mch to consider:, acconting,, payroll, insrance and even retirement planning. With so mch for yo to do, where s the best place to begin? 3 Owning a Bsiness Start with yor friends at Montain America, of corse. We offer a fll range of prodcts and services to help yo get yor bsiness p and rnning.
insrance 4 Montain America Credit Union Writing a Feasible Bsiness Plan Bsiness plans are essential for any sccessfl operation. A good bsiness plan is a written docment that combines yor personal enthsiasm for the bsiness with real facts, figres and details. It also serves as a gide for yor company s progress and shold change and expand with yor bsiness. Montain America s loan specialists look to yor bsiness plan when evalating a loan reqest. In order to get a loan, yor plan mst explain how yo ll manage, operate and finance yor company and answer these 10 qestions: q How mch money do yo need and what is yor capital commitment? (A rle of thmb is that a 20% 30% investment in the company needs to come from the owner, either from personal cash or eqity in the bsiness.) w How will yo se the money? e How will the loan affect yor financial position? r What will yo pledge as collateral? (Yo ll have to pledge some tangible asset sch as stocks, term deposits or property to obtain a loan. If the loan is for eqipment or real estate, that can become collateral.) t How will yo repay the loan? y When will yo repay the loan? If yo don t reach yor projected income, can yo still repay the loan? (For example, do yo have a spose with otside employment?) i How mch can yor bsiness afford to lose and still remain viable? o How will yor bsiness manage risk? a For an existing bsiness, how has it performed to date? Is the financial position of the bsiness improving or declining? Bsiness Licenses and Permits Before opening yor bsiness, yo may need to get a variety of permits and licenses from the city, conty, state or federal government. Licensing and permit reqirements for small bsinesses can vary among jrisdictions, so it s critical that yo contact yor state and local governments to determine the specific obligations of yor new bsiness. Yo may need to obtain: A basic bsiness operation license Apply for a loan by visiting yor nearest Montain America branch. For more information, go to or website, www.mac.com, or call or bsiness loan specialists at 1-888-845-1850. A fictitios bsiness name permit, also called dba (or doing bsiness as ) permit A federal employer identification nmber (EIN), also called a tax identification nmber (TIN) Note: Yor bsiness may also need a similar tax identification nmber from yor state s department of revene or taxation. Zoning and land-se permits Health department permits A sales tax license Fire department permits Special state-issed bsiness license or permits Find more information abot bsiness licenses and permits at www.sba.gov. 5 Owning a Bsiness
getting insrance 6 Whatever yor reason for starting a bsiness, one thing remains certain: it reqires money. Montain SBA 7(a) and 504 Loans Financing from $10,000 to mil- credit to eqipment loans and Prchase land or an existing bsiness acqisitions to constrction loans, we can provide yo with the money and tools yo need to start and grow yor own bsiness. bilding Constrct new facilities Modernize, renovate or convert existing facilities SBA Express Lines of Credit Revolving credit lines Ideal for working capital, inventory, expansion or other bsiness expenditres Accelerated trnarond times Lower interest rates than many other forms of credit Prchase large machinery and eqipment 15- to 25-year amortizations Up to 70% on most properties Competitive interest rates Personal garantees reqired on all SBA loans Interest rates vary based on property type and borrower strength 7 Owning a Bsiness Montain America Credit Union lions of dollars America can help. From lines of
insrance Bsiness Visa Rewards Bsiness Platinm Visa A credit card is a valable tool Earn points toward gifts and travel for any bsiness. It allows yo to jst by sing yor rewards card for qickly and easily pay for everyday yor daily bsiness prchases. 8Montain America Credit Union Loan amonts p to $2,000,000 Constrction Special Properties Storage nits bsiness expenses like spplies, power lnches and gas for the company car. Montain America offers several options so yo can effortlessly maximize yor prchasing power and keep yor bsiness moving in the right direction. Bsiness Platinm Visa Get a low, competitive interest rate and pay no annal fee. Bsiness Visa Debit Card Conveniently access yor bsiness cash at ATMs all across the contry and even internationally. Eligible for rewards program. Apply for yor Montain America Credit Union SBA loan or Visa credit card today. Visit yor nearest branch, or call 1-888-845-1850. 9 Owning a Bsiness Property Types Office bildings/condos Indstrial/warehose Small retail (strip malls) Mlti-family hosing Convenience stores Restarants Charter schools Car washes Other Specialty property
insrance & savings 10 Simplify yor bsiness finances with acconts Online Bsiness Banking and Bill Pay 11 Montain America Credit Union from Montain America. Bsiness Checking Each bsiness is different. That s why, at Montain America, yo can choose the accont that s right for yo. Whether yor bsiness is jst starting ot or already growing qickly, we offer a plan that will help yo spend less time worrying abot yor finances and more time rn- Bsiness Visa Debit Card Waived maintenance charges with estatements enrollment Bsiness Growth Checking Checking for growing bsinesses. Choose between earning interest or earning credits Online Bsiness Banking and Bill Pay Owning a Bsiness ning yor bsiness. Employee Direct Deposit Bsiness Essentials Checking Simplified for bsinesses with minimal transaction needs. No charge for checks deposited and cleared* No charge for cash and coin handling* Bsiness Visa Debit Card Sweep Acconts available Upgrade to Payment Processing Package, which incldes Bsiness Remote Deposit, ACH Debit and Bill Pay
insrance 12 Montain America Credit Union Nonprofit Checking Checking for nonprofit organizations. No setp or maintenance charges No charge for checks deposited and cleared Online Bsiness Banking and Bill Pay Employee Direct Deposit inclded Bsiness Visa Debit Card Sweep Acconts available Bsiness Sweep Acconts Maximize earnings with a convenient cash tool that atomatically moves excess fnds from to an interestbearing accont and then back to when needed. Bsiness Savings Grow yor money while yo grow Traditional Savings Acconts As the cornerstone of yor financial package, a savings accont allows yo to keep yor money in a safe place while it earns interest each month. Competitive interest rate Interest componded daily and paid monthly Easy access to yor money Open secondary savings acconts for planned expenses like bsiness trips, professional development, holidays and gifts Term Deposits We offer a variety of flexible terms at competitive rates so yor savings can bild p faster than in a traditional savings accont. Higher dividends than other savings vehicles Money Market Acconts As with Term Deposits, Money Market acconts allow yo to grow yor savings at interest rates higher than those offered with traditional savings acconts. Bt what really sets Money Market acconts apart from Term Deposits is the ability to make deposits and withdrawals whenever yo want. Unlimited access to yor fnds Competitive interest rates Interest paid monthly Minimm balance of only $2,500 Higher balances earn higher interest rates * If combined monthly items deposited and cleared exceed 300 or aggregate monthly cash/coin exceed $10,000 per month for two consective months, the accont will be converted to a Bsiness Growth Checking accont. Open yor bsiness acconts today. Visit yor nearest branch, call 1-888-845-1850 or go to or website, www.mac.com. 13 Owning a Bsiness yor bsiness. We offer a complete line of savings prodcts designed to reinforce yor entreprenerial Terms from 6 months to 5 years $500 minimm deposit efforts that reqire liqid assets.
insrance 14 Once yo ve secred yor licenses and permits, small bsiness loans, Payment Processing Made Easier We accept a wide variety of credit 15 Visa Rewards credit card, check- cards and offer PIN-secred and Montain America Credit Union ing acconts, it s time to sit back and relax, right? Not qite. Yo still need the tools to manage yor bsiness on a daily basis. Montain America can help with the little, everyday stff, too. We offer a variety of prodcts and services to help make yor dayto-day operations effortless and virtally atomatic. signatre-based debit transactions. Sperior Service We provide 24/7 cstomer service, qickly processed transactions and qality training on or services. Online Bsiness Banking In today s competitive environment, yor bsiness needs every advantage it can get. One of those Owning a Bsiness Merchant Services Montain America makes it easy to accept yor cstomers preferred payment methods credit and debit cards with or payment processing services throgh First Data. advantages is having financial information and control at yor fingertips at all times. Online Bsiness Banking offers these great tools cstomized for yor bsiness: Tracking Finances & Balance Alerts Create cstom reports to track Advanced Technology Yo ll get the yor bsiness finances and instantly most advanced eqipment and so- transfer fnds to yor savings, ltions to help yor bsiness grow. and loans on yor accont.
insrance By partnering with Paychex, Here s how an HSA works: Em- Inc. a recognized leader in the ployees enroll in a qalifying high- payroll and hman resorce dedctible health plan (throgh an indstry we re able to provide insrance company) and then yo 16 Montain America Credit Union Direct Payments & Direct Deposits Initiate Direct Payments from cstomer acconts and make electronic direct payments for payroll or acconts receivable sing the Atomated Clearing Hose (ACH). Wire Transfer Send fnds to acconts at different financial instittions. QickBooks Downloads Download yor accont transaction history into QickBooks software. Bsiness Remote Deposit Even with modern advances in With Bsiness Remote Deposit yo can: Scan checks and deposit them directly into yor bsiness accont from any of yor s or bsiness locations. Make deposits any day of the year, any time, day or night. Save time, money and gas by eliminating the need to drive to the branch. Maintain a single relationship with Montain America no matter how many s yo have or bsinesses like yors with a comprehensive site of payroll services. This incldes: Payroll checks that are accrate and on time. Easy-to-read payroll reports to help rn yor bsiness. Employee direct deposit. Electronic filing of yor tax retrns and deposits. Compliance with new-hire reporting to government agencies. open Montain America HSAs for them. Yor employees then se their HSA fnds to pay for expenses before their health plan dedctible is met. The HSA may also pay for services not covered by the health plan, inclding: co-payments for prescriptions and visits, COBRA coverage dring periods of nemployment, medical expenses after long-term care expenses, to name jst a few. 17 Owning a Bsiness technology, most bsinesses still where they re located. deposit checks the old-fashioned Health Savings Acconts (HSA) way (someone physically delivers the checks to the branch). Bt now there s a state-of-the-art and amazingly fast alternative: Bsiness Remote Deposit. Payroll Services Montain America makes payroll qick, easy and affordable with or payroll services throgh Paychex, Inc. Take advantage of the lower premims a high-dedctible health plan offers, and at the same time, provide yor employees with the additional medical expense coverage they desire. Contact s today. Visit yor nearest branch, call 1-888-845-1850 or go to or website, www.mac.com.
insrance insrance Owning a bsiness comes with 18 Montain America Credit Union plenty of things to worry abot don t let bsiness insrance be one of them. Experience the peace of mind that comes with an insrance package cstomized specifically to yor needs. Or experienced agents can design an insrance soltion to provide yor company with protection from the nknown, which allows yo to remain focsed on rnning yor Schedle a no-obligation consltation today by calling 1-877-276-7882, or for more information visit s at MontainAmericaInsrance.com. Farming Eqipment. Property Insrance. Life Insrance (Key Man). 19 Owning a Bsiness bsiness. We work with mltiple Umbrella. carriers to provide yo with options when selecting yor insrance provider. Workers Compensation (reqired when yo have employees). We offer a variety of bsiness insrance types, inclding: Bsiness Liability. Insrance prodcts offered by Montain America Insrance Services, LLC, are not a deposit, not an obligation of, or garanteed by any credit nion, not insred by the NCUA, and in the case of life insrance, may go down in vale. Prchasing of insrance prodcts will not affect the extension of credit in any way. Bsiness Owners Policy. Commercial Property, Vehicles and Eqipment.
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