CommunityCommonwealth Credit Union


The Benefits of Opening a Business Account

Posted at 12:23 PM, Mar 22, 2019
and last updated 2019-07-22 15:27:54-04

</p><p>Are you thinking about or in the process of opening a new business in Lexington? One of the first things any new business owner should know about is the benefit of opening a Business Account. There are a variety of reasons why Business Accounts are beneficial to you:

1. Separate and Accurate Bookkeeping

It’s difficult enough to manage personal finances, but if you try and pile on business transactions on top of that, you’re in for some stressful months ahead. Having a Business Account allows you to keep the financial transactions of your business separate from your personal accounts. By keeping the two separate, taxes become much easier at the end of the year and you can hand your accountant a clean transaction history.

2. Professionalism

Proving to the IRS and your potential customers that your business is more than a hobby is very important. Writing checks to your suppliers from your Business Account will provide credibility and professionalism to your business.

3. Addressing All of Your Needs

After hearing feedback from their members, Commonwealth Credit Union decided to offer business accounts in order to address the needs of the community. As a business owner, signing up for a Business Account with Commonwealth Credit Union will give you access to a variety of financial tools to help your business grow. Offering Business Accounts is just one way Commonwealth Credit Union continues to strive to better the lives of their members.

Commonwealth Credit Union opened their doors in 1951 with $2,700 in assets and 122 members. Today, the assets have grown to more than $1 billion and Commonwealth Credit Union serves more than 100,000 members. Anyone who lives, works, worships, attends school, or volunteers in the KIPDA and Bluegrass Development District communities is available for membership.

For more information about what Business Account is a right fit for you, you can visit or call a branch location near you to speak with a Business Account Specialist.


Our Locations

Phone: (800) 228-6420

Main Office
417 High St., Frankfort, KY 40601

Sower Branch
101 Sower Boulevard, Frankfort, KY 40601

Louisville Road Branch
1425 Louisville Road, Frankfort, KY 40601

Lawrenceburg Branch

1015 Crossroads Drive, Lawrenceburg, KY 40342

Lexington Meijer Way Branch

280 Meijer Way, Lexington, KY 40503

Lexington Hamburg Branch
2540 Sir Barton Way, Lexington, KY 40509

Georgetown Branch

108 Lawson Drive, Georgetown, KY 40324

Harrodsburg Branch – NOW OPEN!
511 Joseph Dr. Harrodsburg, KY 40330

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