Business Checking

Basic Business Checking

The Basic Business Checking is designed for businesses that don’t want to worry about a balance requirement or activity limitations.

  • No minimum balance
  • Monthly statements
  • Flat monthly service charge of $15.00

Regular Commercial Checking

The Regular Commercial Checking Account requires a $1,000 minimum balance to avoid a monthly maintenance fee. This type of account is usually assigned to those businesses who have less than 100 items per statement cycle.

Features

  • Itemized monthly statement
  • A wide selection of business checks available
  • Low monthly balance requirement

Commercial NOW Account

This account is only for sole proprietors, governmental units and not-for-profit organizations. This account requires a daily balance of $1,500 or more is maintained during the month to avoid a monthly service charge. A NOW Account has unlimited check writing privileges. Interest will not accrue on balances less than $1,500 and the interest rate is subject to change at the bank’s discretion.

Features

  • Interest is compounded monthly at your statement cycle

Business Savings

Commercial Savings Account

This is an interest bearing account with a minimum amount to open of $500 to avoid a service fee. If the account falls below this amount, a fee of $2.00 will be charged each statement cycle. The interest rate and annual percentage yield on this account is determined by the bank and is subject to change.

Limitations: During any statement cycle you may not make more than 6 withdrawals (debits) or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party.

Features

  • Interest is compounded daily, posted semi-annually
  • Quarterly statements. When you have a checking account, a monthly statement is available
  • Automatic transfers of specified amounts at regular intervals from checking to savings accounts are available

Commercial Money Market

This is an interest bearing account with a minimum balance requirement of $2,500. If the account falls below the minimum anytime during the month, a service fee of $5.00 will be imposed and no interest will be accrued. The interest rate and annual percentage yield on this account is determined by the bank and is subject to change.

Limitations: During any statement cycle you may not make more than 6 withdrawals (debits) or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party.

Commercial Money Market Plus

This savings account requires a minimum balance of $10,000 and pays a higher interest rate than the Regular Money Market. This account is designed for our customers who don’t want to lock up their funds in a CD but want to earn a competitive rate. The interest rate and annual percentage yield on this account is determined by the bank and is subject to change. The account’s interest rate will never go below the rate being paid on the Regular Money Market Account.

If the account falls below the minimum balance requirement of $10,000 any day of the statement cycle, the interest rate and APY will be the same as our regular money market account rate on that day along with a $5.00 service charge.

Limitations: During any statement cycle you may not make more than 6 withdrawals (debits) or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party.

Features

  • Interest is credited to the account monthly