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 a bank account with Business Services is to register your organization on UConntact as a Tier II organization. UConntact is maintained by Leadership & Organizational Development (SU Room 302). You will need to submit a constitution and an organization roster to Leadership & Organizational Development. Go to the Leadership & Organizational Development 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 Leadership & Organizational Development (SU Room 302).
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.