Business Savings Tips, Info & FAQs
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Your business needs access to affordable services and reliable savings solutions. Whether you’re a small, family-owned enterprise or a well-established organization, getting the right business services is critical for success. At United Texas, we know that not all companies are the same. We’ll invest the time to get to know you and your unique goals so we can anticipate your needs and guide you to a savings solution tailored just for your business.
Starting a business? Ask yourself these questions first.
In the old days, you could find a job, stick with it until your 65th birthday, cash out that pension and call it good. In today’s economy, the kind of built-in security and stability people used to count on has achieved unicorn status. It’s nice work if you can get it, but the reality is that many people will probably work for themselves at some point. With all the exciting and creative ways you can do that, starting your own business might be the best choice for you. But there’s only one way to find out…
Here are some questions to ask yourself before hanging out your shingle:
What’s the plan?
If you don’t have a well thought-out business plan, you don’t have a business. It can seem like a boring task, but take the time to think through the details. Do you have capital? A marketing strategy? How about a sales strategy? Once you’ve thought through the nuts and bolts, find a clever entrepreneur friend to look it over and provide you honest feedback. Oh…and don’t forget the exit strategy, just in case.
How will you manage?
Bosses are a drag, right? But for some of us, the only thing worse than having a boss is being a boss. Which kind of person are you? Before you quit your day job, find out if you’re a detail-oriented self-starter who can set your watch by your internal clock or if you’re the type of person who thrives with a little more direction.
What do you know?
It’s one thing to have passion. It’s quite another to have expertise. Make sure you possess the latter before you start selling your goods and services. There’s no shame in taking the time to turn that passion into mastery, either. Just take an honest assessment. Would you pay you to do the work you do? Then do it!
Where is the money?
Did you know that most small business owners don’t really start making money until year three? Experts say you should plan to make less than your previous job for at least the first year. With this in mind, make sure you have enough cash to cover inventory, staff, technology, insurance and all the other costs that might sneak up on you between your launch and your first windfall.
Do I have what it takes?
Startups are notoriously hard work. If you’ve got the money, the skills, the temperament and the plan necessary to start a business and keep it running, make sure you’ve got the stamina too. With a little elbow grease and a lot of optimism, you could make your own dreams come true. Good luck!
Can anyone make a deposit or complete a transaction on my business account?
Only authorized signers are able to complete transactions. However, anyone can make a deposit into the account and we will never divulge any information (e.g. account balance or recent transactions).
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Business Savings Why United Texas
- Convenient and easy
- Open in 1-2 business days
- 24/7 accessibility
- No monthly service fee
- Gateway to your business needs
Rick was great! He answered all of my questions and personally made sure our transaction was done efficiently. I would recommend to anyone!Todd W., member since 2002
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Business Savings How it Works
How it Works
To start your business savings account, first complete, print and sign the Member Business Application. Then mail the form, along with a minimum deposit of $5.00 for a Savings Account to:
United Texas Credit Union
Attn: Business Services
5500 UTSA Boulevard
San Antonio, TX 78249
Make sure you include a photocopy of your driver’s license and the required supporting documentation with your completed application and initial deposit.
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IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask you for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
UNLAWFUL INTERNET GAMBLING ENFORCEMENT ACT
The Act prohibits any person engaged in the business of betting or wagering from knowingly accepting payments in connection with the participation of another person in “unlawful Internet gambling,” defined as “placing, receiving, or otherwise knowingly transmitting a bet or wager by any means which involves the use, at least in part, of the Internet where such bet or wager is unlawful under any Federal or State law in the State in which the bet is made.
In accordance with the requirements of the Unlawful Internet Gambling Enforcement Act of 2006 and Regulation GG, restricted transactions are prohibited from being processed through your account or relationship with United Texas. Restricted transactions are transactions in which a person accepts credit, funds, instruments or other proceeds from another person in connection with unlawful Internet gambling.