Unlimited Liability
Liability arising out of business activity is borne entirely by the sole proprietor. All assets, whether business or personal, can be legally taken to pay the debts of the business. This is known as unlimited liability.

Please gather and complete the following:

• 1 piece of valid photo identification
• A copy of your Master Business License (not required if name of business is same as the owner’s name)
• Contact information – primary phone number, email address and your preferred method of contact
• KCU Business Member Application Consent form

Visit any Kawartha Credit Union branch to drop off the completed checklist and required documentation. A Kawartha Credit Union Business Advisor will sit down with you to review the information, discuss your business needs and begin the application process. You will then be contacted within 3-5 business days with the status of your application.

Once your Business membership application has been approved, a final appointment (minimum of one hour) is required to sign the application and new account documentation. As the owner and signer for the account, you are required to provide original identification and sample signatures. We will require you to confirm your SIN for tax reporting purposes as your business account generates interest income.

Please note that Kawartha Credit Union is a member-owned co-operative. A $25 share deposit is required, which stays with the account until the account is closed.

General Partnership
Consists of two or more people or corporations who share management duties and equal liability for business debts.  That means that one partner can be held liable for the business debts of the other.  General partnerships are formed by a straightforward written agreement between the partners.

Limited Partnership
Consists of one or more general partners and one or more limited partners.  Limited partners have no management authority and their liability is limited to the amount of capital that they contribute.  Limited partnerships are established by a formal agreement between the partners, and usually specifies which partners will manage the business.  The business name of a limited partnership must contain “Limited Partnership”.

Limited Liability Partnership (LLP)
Limits the liability of the partners. One partner cannot be held personally responsible for the obligations of the business or for the obligations of the other partners.  Personal assets remain protected, so limited liability partners can run the business, but enjoy some protection from being sued for the negligence or wrongdoing of the other partners.  Limited liability partnerships are established by a forms agreement between partners that is filed, along with a list of partners, in a records office. The LLP registers the address of the records office with the corporate registry.  The business name must contain “Limited Liability Partnership (LLP)”.  A limited liability partnership is usually only available to a group of professionals, such as lawyers, accountants or doctors.

Please gather and complete the following:

• 1 piece of valid photo identification for each Authorized Signatory and Authorized User
• KCU Business Member Application Consent form (one for each Authorized Signatory and Authorized User)

General Partnership:

• Master Business License (if applicable)
• Partnership Agreement (formal or letter)

Limited Partnership:

• Declaration of Limited Partnership (Form 6)
• Partnership Agreement (formal)

Limited Liability Partnership:

• Master Business License (if applicable). Registration name must include 'Limited Liability Partnership' or 'LLP'.
• Partnership Agreement (formal)

Visit any Kawartha Credit Union branch to drop off the completed checklist and required documentation. A Kawartha Credit Union Business Advisor will sit down with you to review the information, discuss your business needs and begin the application process. You will then be contacted within 3-5 business days with the status of your application.

Once your Business membership application has been approved, a final appointment (minimum of one hour) is required to sign the application and new account documentation. Signing officers must attend the appointment and provide 1 piece of valid photo ID.

Please note that Kawartha Credit Union is a member-owned co-operative. A $25 share deposit is required, which stays with the account until the account is closed.

Please gather and complete the following for your Corporation (including co-operative, condominium corporation, incorporated society, registered charity or similar organization):

• 1 piece of valid photo identification for each Authorized Signatory and Authorized User
• Certificate of Incorporation (if done online)
• Articles of Incorporation or Letters Patent
• Corporate Profile Report (www.oncorp.com—if articles are over one year old)
• Certificate of Amendment or Supplementary Letters Patent (if the Articles of Incorporation or Letter Patent have been amended in any respect)
• By-laws (if available)
• Meeting Minutes
• Master Business License (not expired) if operating under a trade name
• Contact information – primary phone number, email address and preferred method of contact
• KCU Business Member Application Consent form (one for each Authorized Signatory and Authorized User)

Registered Charity

• Registered Charity Directories Listing from Registered Charities website: http://www.cra-arc.gc.ca/charities/

Condominium Corporation

• Declaration and description registered under the Condominiums Act

Visit any Kawartha Credit Union branch to drop off the completed checklist and required documentation. A Kawartha Credit Union Business Advisor will sit down with you to review the information, discuss your business needs and begin the application process. You will then be contacted within 3-5 business days with the status of your application.

Once your Business membership application has been approved, a final appointment (minimum of one hour) is required to sign the application and new account documentation. Signing officers must attend the appointment and provide 1 piece of valid photo ID.

Please note that Kawartha Credit Union is a member-owned co-operative. A $25 share deposit is required, which stays with the account until the account is closed.

Non-Profit Organizations:
Are organizations established in Canada as an association, club or societies that are not charities and that are organized and operated exclusively for:

• social welfare
• civic improvement
• pleasure
• recreation
• any other purpose except profit

Also, an organization established in Canada as a professional organization, business league, chamber of commerce, labour organization, agricultural or horticultural organization, or civic league, or exclusively for the promotion of social welfare.
A non-profit organization is exempt from income tax, has no shareholders or members who have a proprietary or beneficial interest in its income or assets, can only use its income or assets for the activities set out in its formation documents, and upon the dissolution of the entity, all of its assets must be distributed to the Canadian government or other Canadian non-profit organization(s).

Please gather and complete the following documents for your Unincorporated Association (including community accounts, organized sports teams, clubs or lodges):

• 1 piece of valid photo identification for each Authorized Signatory and Authorized User
• KCU Business Member Application Consent form (one for each Authorized Signatory and Authorized User)

Community Account:

• Memorandum of Association or Constitution
• Bylaws, Association Rules or Membership Resolution
• Certificate of Incumbency listing directors and officers

Organized Sports Teams:

• Letter from league executive confirming existence of league, name of sports team, coaching staff and a list of the league executives.

Club or Lodge:

• Letter from head office on letterhead, confirming the existence of club/lodge, granting authority to open account and use the name. Letter must identify signing authorities, officers and directors
• Bylaws or Association Rules

Church

• Letters Patent or Canons of the Diocese or Church Manual/Bylaws
• Additional supporting documentation, as necessary (determined via application process)

Visit any Kawartha Credit Union branch to drop off the completed checklist and required documentation. A Kawartha Credit Union Business Advisor will sit down with you to review the information, discuss your business needs and begin the application process. You will then be contacted within 3-5 business days with the status of your application.

Once your Business membership application has been approved, a final appointment (minimum of one hour) is required to sign the application and new account documentation. Signing officers must attend the appointment and provide 1 piece of valid photo ID. Please note that Kawartha Credit Union is a member-owned co-operative. A $25 share deposit is required, which stays with the account until the account is closed.

Please complete the following for your Trust account, as an extension of your Business Membership Application:

• KCU Business Member Application Consent form (one for each Authorized Signatory and Authorized User)

In addition, the following supporting documents are required, based on the type of trust. Lottery Trust

• Proof of valid Lottery License

Visit any Kawartha Credit Union branch to drop off the completed checklist and required documentation. A Kawartha Credit Union Business Advisor will sit down with you to review the information, discuss your business needs and begin the application process. You will then be contacted within 3-5 business days with the status of your application.

Once your Business Trust membership application has been approved, a final appointment (minimum of one hour) is required to sign the application and new account documentation. Signing officers must attend the appointment and provide 1 piece of valid photo ID.

Please note that Kawartha Credit Union is a member-owned co-operative. A $25 share deposit is required, which stays with the account until the account is closed.