UMe Credit Union Business Checking Review

Business owners located in Burbank, California, will find an affordable business checking option at UMe Credit Union. It has only one account to choose from; however, it comes with all the features you need for daily money management. It also pays interest on balances over $5,000. To open an account, you must be a member of the credit union by opening a personal savings account with a $5 opening deposit.

I really enjoyed reviewing this credit union. The site is designed for real people using common easy-to-understand language. The name UMe was derived from putting U+Me (us). The financial needs of the people served are top priority.

From its humble beginnings, starting in a teacher’s desk drawer to the lovable mascot Emu (UMe spelled backward), who runs the online chat with a sense of humor—mentioning that he’s just a bird bot and not a human. I was so enamored by the site that I decided to call one of the branches to ask a question. From my experience, it lives up to its name, U + Me.

UMe Credit Union is located in Burbank, California, and is federally insured for up to $250,000 by the National Credit Union Administration (NCUA).

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I used several methods to assess UMe Credit Union’s business checking accounts. I first looked at as much information as possible on the UMe website to ensure I had a good overview of the account structure. I also looked at online reviews from account holders and compared UMe with its competitors.

UMe is a credit union with in-person services, so I compared it with similar banking models for pricing, ease of use, features, and software integrations. In general, UMe Credit Union is comparable. It also offers the easiest method I’ve ever seen to waive the monthly maintenance fee—simply agree to receive your monthly checking statements electronically instead of via the mail; plus, it saves you $10 each month.

Pros

30,000 in-network ATMs
$0 monthly fee with eStatement agreement
Unlimited transactions

Cons

Must have connections in Burbank, California, to open an account
Must open a personal savings account to become a member before opening a business checking
The earning option must meet $5,000 balance threshold

Special Offer	4.50% APY on a 10-month CD when depositing $50,000 $50,000 minimum deposit is required. Penalty on early withdrawals. Dividends on certificates are compounded and paid monthly. Offer valid for a limited time only and subject to change without notice and at the discretion of UMe Federal Credit Union. UMe reserves the right to end the promotion at any time.
Opening Deposit Requirement	$100
Monthly Maintenance Fee	$10—waived if you sign up for eStatements
APY Annual Percentage Yield	Monthly interest paid on balances over $5,000 (current rate is 0.05% APY)
ATM Fees	None at all UMe and Co-Op Network ATMs $1 + third-party fees at out-of-network ATMs
Other Standout Features	Safety Net program pays overdrafts, free online banking, bill pay, Instant-issue Visa^® Debit card, 30,000 free in-network ATMs

Business owners needing a fee-free way to waive monthly maintenance fees: UMe has one of the best programs for waiving the $10 monthly maintenance fee. Signing up for eStatements automatically waives the charge. It’s a win-win for the customer and the bank—the bank saves on printing and mailing statements, while the customer saves $10.
Users looking for unlimited electronic transactions: UMe Credit Union’s business checking has unlimited electronic transactions. This is great for business owners who process most banking transactions electronically and need a fee-free bank to partner with, offering unlimited transactions.

Visit UMe Credit Union

UMe Credit Union Business Checking Alternatives & Comparison

Comparison
Use Cases

	Monthly Fee	Monthly Transaction Limit Before Fees	Monthly Cash Deposit Limit Before Fees	Geographic Availability Geographic availability refers to the states your business needs to operate in to become eligible for account opening.
Business Checking	$10; waived if you sign up for eStatements	Unlimited electronic transactions + 150 processed checks For checks deposited, paid and processed over the 150 monthly FREE allotment, there will $0.25 fee per check	20; $1.50 for each additional deposit	Burbank, California
Business Checking	Visit UMe Credit Union Federally insured for up to 250,000 by the National Credit Union Administration (NCUA)
Silver Business Checking	$0	$125	25 free cash deposit units Cash deposit units are calculated by dividing each cash deposit amount by 100 and rounding the resulting value to a whole number. To determine rounding: • less than $0.50/$50 is rounded down • ≥$.50/$50 is rounded up Any deposit less than $150 equals one unit. After free units per statement cycle, the fee is $0.33 per unit. Cash unit allowance is applicable to all cash deposits in branch and through U.S. Bank partner ATMs; not applicable to Cash Vault product. per statement cycle	26 statesArizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin, and Wyoming.
Silver Business Checking	Visit U.S. Bank Member FDIC
Business Checking	$0	Unlimited	Cash accepted at Green Dot $4.95 per deposit locations and Allpoint $1 per deposit + 0.5% of your deposit ATMs	Online, available in all states
Business Checking	Visit Bluevine Bluevine is a financial technology company, not a bank. Deposits are FDIC insured up to $3,000,000 per depositor through Coastal Community Bank, Member FDIC and program banks
Free Business Checking	$0	Unlimited	Unlimited	Branches in New York; online available in all states
Free Business Checking	Visit Bethpage Federally insured for up to 250,000 by the National Credit Union Administration (NCUA)

	Best For	Learn More
	Businesses wanting access to in-person branches across the US: UMe Credit Union has branches only in Burbank, California. U.S. Bank may be the better choice for businesses needing access to additional states, with a banking footprint spanning 26 states Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin, and Wyoming. .	Read our U.S. Bank business checking review
	Business owners needing to separate funds: UMe Credit Union allows members to open multiple accounts to separate funds. If you are searching for a financial institution that allows subaccounts with automation for funds segmentation, Bluevine is a good option. It allows five subaccounts to be added and linked to the main business checking.	Read our Bluevine business checking review
	Business owners looking to earn interest with a low balance: While the UMe business checking account does earn interest, it does not begin to calculate until the balance reaches $5,000. Bethpage Federal Credit Union is a good alternative since interest is calculated from the first penny deposited.	Read our Bethpage business checking review

Check out our roundup of the best small business checking accounts for additional recommendations.

UMe Credit Union Business Checking Reviews From Users

Note: The reviews listed below are for the bank as a whole. There were no specific reviews listed for the business checking accounts individually.


Users Like	Users Dislike
Staff is friendly, is efficient, and calls you by name	PIN-based debit card limit is only $500 daily
Designated play area for kids	Fee charged for paying a loan by phone
Less fees than big banks	No support after 8 pm
Treats given to all visiting pets	Mobile app functionality is sometimes slow

Here’s how UMe Credit Union scored on third-party review sites:

Yelp^[1]: 3.9 out of 5
Google Play^[2]: 4.6 out of 5
App Store^[3]:4.8 out of 5

UMe Credit Union Business Checking Overview of Terms

	Business Basic Checking
Required Opening Deposit	$100
Monthly Fees	$10—waived if you sign up for eStatements
APY	Monthly interest is paid on balances over $5,000 (current rate is 0.05% APY)
Transaction Limit Before Fees	Unlimited electronic transactions + 150 processed checks For checks deposited, paid, and processed over the 150 monthly FREE allotment, there will be a $0.25 fee per check.
Cash Deposits	First 20 free, then $1.50 for each additional deposit
Standard ACH Fees	Available only through bill pay Free up to 25 items and $1.50 each, thereafter
Domestic Wire Transfer Fees	Incoming: $10 Outgoing: $25
International Wire Transfer Fees	Incoming: $10 Outgoing: $45
ATM Fees	None at all UMe and Co-Op Network ATMs $1 + third-party fees at out-of-network ATMs

UMe Credit Union Business Checking Requirements

To qualify for a membership at UMe Credit Union, you must meet one of the following requirements:

Live in Burbank
Work in Burbank
Worship in Burbank
Be a student in Burbank
Have family/employer/association connected to Burbank
Have donated at least $10 to the Burbank Arts & Education Foundation

A savings account must be established to activate your membership profile at UMe Credit Union. Once you meet the Burbank criteria and have a savings account, you can move forward with a business checking account application.

In addition, you’ll need the following personal information about each signer:

Social Security number or TIN (Tax Identification Number)
Current, valid, government-issued photo ID, such as a Driver’s License or Passport

Please note:

- If your ID does not list your current physical address, you will be required to upload a utility bill (later in the application process) that verifies your current residence.
- If you have a security freeze on your credit report, you must unfreeze it before proceeding with your UMe membership application. If your credit report isn’t available when your application is submitted, your application could be put on hold or delayed.
- If you are funding your new UMe account electronically using an account from another financial institution, you will need that account number and routing number.

How to Open a UMe Credit Union Business Checking Account

To qualify for a business checking account, you must first establish a membership in UMe Credit Union. This is done by opening a savings account. Once your savings account is activated, you can add any additional accounts to your membership profile.

There are multiple options listed on the UMe Credit Union website for account opening:

Visit the UMe website.
Visit a UMe branch.
Call 818-238-2900.
Email using UMe’s Email Us option.
Complete a UMe handwritten application.
- Fax the completed application to 818-238-2930.
- Mail the completed application to PO Box 7767 Burbank CA 91510.

Refer to our guide on how to open a business bank account for a checklist of documents banks typically require upon account opening.

UMe Credit Union Business Checking Account Features

Debit Card

UMe Credit Union offers Instant-issue Visa® Debit cards that are activated instantly at the time of the account opening. Also, the card has UMe CardNav, a feature allowing users to turn their debit cards on and off as needed.

Physical Checks

The first time you order checks for your UMe Credit Union account, you will need to call the branch to set up your check-ordering account. After it’s established, you can visit UMe Checks Online to place all future orders.

Accounting Software and Payment Integrations

UMe Credit Union provides an automatic integration with the following software providers:

QuickBooks
Quicken

Customer Service

There are multiple ways to contact UMe Credit Union:

Visit a local branch.
Call 818-238-2900.
Fax 818-238-2930.
Email via UMe’s Email Us option.

Use secure email, UMe Banking Online.

Other UMe Credit Union Business Products

UMe Credit Union has a variety of business-based products and services to provide essential tools to business owners for financial management. This includes:

The business credit card offered by UMe Credit Union is hard to beat. It has fixed low rates starting at 12.90% APR. It also has $0 application, annual, cash advance, and balance transfer fees. To top it all off, every purchase earns rewards.

Ume Credit Union has a special program to safeguard all members and their non-public information. It not only protects customer identity but also funds on deposit. It includes electronic documents, identity theft resources, smart alerts, and the reassurance of NCUA insurance protection. These items are designed to provide fraud, payment, and privacy protection.

UMe has partnered with Accion Opportunity Fund to provide a variety of lending options for small business owners. These loans range from $5,000 to $250,000, with terms of up to 5 years. Funding is as quick as 5 to 7 days on average, with no application fee or prepayment penalties.

Meet the UMe Emu

Meet the UMe Emu, a cute and loveable bird bot bank mascot. (Source: UMe Credit Union)

“That’s right. We’ve got a bird in the building! We have the best of the best, the sharpest of the sharp, the wittiest of the witty – The UMe Emu. Think of our Emu as your Sherpa, guiding you up the mountain of financial enlightenment.” (There’s even a YouTube video of his life.)

Frequently Asked Questions (FAQs)

Credit unions and banks tend to offer similar products. However, credit unions tend to offer better interest rates with lending and deposit products that help businesses save money.

There are many credit unions across the country, and each has a specific strength. UMe Credit Union is best for businesses wanting to save money and earn interest. Other credit unions have different specialties, such as Navy Federal Credit Union, which is best for military members and their families. Each business will have a specific need for their banking needs. See our roundup of the best credit unions for small businesses for options.

Opening a business bank account with a credit union has many benefits. Since you are a member instead of a customer, you can often take advantage of member perks not offered at a traditional bank.

No. Opening a business checking account does not affect your credit score since you are not repaying any kind of credit or establishing a loan during this process.

Yes, most banks run a soft credit check or a ChexSystems report to determine creditworthiness before opening an account. While a checking account is not a loan product, having a checking account can create situations where an account could go in the negative. This could be a result of using overdraft protection or having deposited items returned. Since the bank will float the funds until the shortfall is corrected, an overview of your past credit decisions helps the bank make an educated decision regarding approving a new account.

Bottom Line

We recommend the business checking account of UMe Credit Union for Burbank-based businesses wanting to earn interest on deposits, skip monthly service fees, and make transactions at an affordable cost.UMe also has affordable lending options available through a partner relationship with Accion Opportunity Fund offering small business loans from $5,000 to $250,000. However, its lack of savings may be a dealbreaker for businesses with more complex banking needs.