Obtaining a bank account as a YNPN Chapter

What do you need? 

  • Tax Identification Number
    • If your chapter is incorporated, you would need an Employee Identification Number and certificate of incorporation.
    • If your chapter is NOT incorporated, you would need a Social Security Number or Individual Taxpayer Identification Number (ITIN) of one or two of your officers.
  • A charter, articles of organization, or similar legal document that shows when your chapter was formed. A charter or other official document that lists the officers of your organization.
  • Bylaws
    • The bylaws must provide a clear summary of the purpose of the non-profit organization. Bylaws must name the board members, and those who will be responsible for the bank account. The bylaws should stipulate not only the goal of the non-profit organization, but also the board policies.
  • Authorized Signers
    • Authorized signers are the people who are authorized to sign checks, or make transactions on behalf of your chapter
    • A government-issued photo ID and Social Security numbers are needed to be a signer
    • Banks generally require the president, the vice president and the treasurer to be listed among the authorized signers on the account

Accounting of Funds and Bank Records

Clear records should be kept of all funds deposited into the account. Your chapter should have the following statements:

  • Balance statement
  • Cashflow statement
  • Statement of functional expenses

Other Things to Consider

Minimum deposit, minimum balance

Chapters should be aware of chapter's cashflow and whether or not you will be able to meet the minimum deposit in opening a bank account, and the minimum balance in the account.


Check with your bank on annual fees, transaction fees, and any other fees that might be incurred. 


Chapters should have a policy on managing the bank account, which includes check signing procedures, bookkeeping, succession process.

Credit Unions

Most national banks will have an account specific to nonprofit organizations, but you might want to consider looking into credit unions, and smaller local banks and see if they have any nonprofit discounts.