Business Savings & Money Market Accounts
Account Type | Minimum Opening Balance | Monthly Service Charge | Balance to Avoid Service Charge | Minimum Balance to Earn Interest | More Info |
---|---|---|---|---|---|
Commercial Savings |
$100 | $2(a) | $100 | $.01 | Go |
Commercial Money Market |
$2,500 | $10(b) | $2,500 | $.01 | Go |
Corporate Money Market |
$10,000 | $10(c) | $10,000 | $.01 | Go |
Premium Corporate Money Market |
$50,000 | $10(d) | $50,000 | $.01 | Go |
Commercial Savings
Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield are included in the rate chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account at any time. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). Interest will be compounded daily and will be credited to the account quarterly. If the account is closed before interest is credited, you will not receive the accrued interest.
Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
Limitations: You must deposit $100.00 to open this account. You may make two (2) transfers from your account each month at no charge.
Services:
- Free internet banking
Monthly Service Charge (a): (Based on minimum ledger balance)
- $100 or more, No Charge
- Less than $100.00, $2.00 monthly charge
- $1.00 each withdrawal in excess of 2 per month
- $10.00 early closure fee (within one year of opening).
Commercial Money Market
Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield are included in the rate chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account at any time. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). Interest will be compounded daily and will be credited to the account monthly. If the account is closed before interest is credited, you will not receive the accrued interest.
Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
Limitations: You must deposit $2,500.00 to open this account. An excess withdrawal fee of $10.00 will be charged each statement cycle for each withdrawal in excess of six.
Services:
- Free internet banking
Monthly Service Charge (b): (Based on minimum ledger balance)
- $2,500 or more, No charge
- Less than $2,500.00, $10.00
- $.08 each item deposited in excess of 25 per month
- $10.00 each withdrawal in excess of 6 per month
Corporate Money Market
Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield will depend upon the daily balance in the account. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account at any time. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). Interest will be compounded daily and will be credited to the account monthly. If the account is closed before interest is credited, you will not receive the accrued interest.
Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
Limitations: You must deposit $10,000.00 to open this account. An excess withdrawal fee of $10.00 will be charged each statement cycle for each withdrawal in excess of six.
Services:
- Free internet banking
- Free 1st box of checks
Monthly Service Charge (c): (Based on minimum ledger balance)
- $10,000.00 or more, No Charge
- Less than $10,000.00, $10.00 monthly charge
- $10.00 each withdrawal in excess of 6 per month
Premium Corporate Money Market
Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield will depend upon the daily balance in the account as shown on the rate chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account at any time. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). Interest will be compounded daily and will be credited to the account monthly. If the account is closed before interest is credited you will not receive the accrued interest.
Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.
Limitations: You must deposit $50,000 to open this account. An excess withdrawal fee of $10.00 will be charged each statement cycle for each withdrawal in excess of six.
Services:
- Free internet banking
- Free 1st box of checks
Monthly Service Charge (d): (Based on minimum ledger balance)
- $50,000 or more, No Charge
- Less than $50,000.00, $10.00
- $10.00 each withdrawal in excess of 6 per month
Need help?
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