Advantages of Having a Business Services Account:
|• No minimum balance|
|• No service fees|
|• No holds on deposits|
|• Event services and supplies|
|• Budgetary advice|
|• Bookkeeping instruction|
|• Accounting assistance|
|• Competitive interest rates|
|• Personal attention|
In order to open or reactivate an organization’s Business Services account:
- The Treasurer must attend Treasurer SOLID training, if they have not done so in the past.
- The Treasurer, President, Secretary and Advisor must be listed on UConntact.
- If you choose to have a 4th Executive Officer as a signatory, he/she must be listed on UConntact under Executive Officer and have accepted his/her position on UConntact.
Opening an Account
The first step to opening an account with Business Services is to register your organization on UConntact as a Tier II organization. UConntact is maintained by Student Involvement (SU Room 302). You will need to submit a constitution and an organization roster to Student Involvement. Go to the Student Involvement website with questions about registering your organization.
Once you are fully registered with Student Involvement, stop by Business Services to pick up a Banking Contract and a Beneficiary Designation form. These documents are also available online on the Forms/Financial Tools page.
Student organizations that choose to have an account with Business Services must complete and submit a Banking Contract every year. The Banking Contract is effective beginning July 1 (or the date it is approved by the office) and expires on June 30 each year. Student organizations are also required to complete a Beneficiary Designation form (which is valid for 5 years).
Reactivating an Account
The first step to reactivating an Business Services account is to re-register your organization on UConntact, which is maintained by the Student Involvement (SU Room 302). See Student Involvement with questions about re-registering your organization.
All Tier II Organizations must complete the following:
- The Banking Contract for the current fiscal year.
- The Beneficiary Designation form (if current form is older than 5 years).
- The Treasurer should pick up their treasurer packet, if they did not retain it over the summer.
- The Treasurer must attend the “SOLID Treasurer Training/Organizational Financial Management” Workshop for Tier II organizations, if they have not done so in the past.
- Documents to reactivate your Business Services account can be be found on the Forms/Financial Tools page, or at Business Services.
Tier II Organizations: The Banking Contract will need at least four signatures: Advisor, Treasurer (CFO), President (COO) and Secretary (SEC). It is strongly recommended that each organization has a fourth Executive Officer as a signatory; this person must be listed on UConntact under Executive Officer. Be sure each member signs his/her most natural signature, as these will be used to validate each Disbursement Request that is submitted.