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Business Savings

Business Savings
  • A clear-cut savings solution for businesses of all kinds and sizes
  • Competitive interest paid on balance
  • Unlimited monthly deposits
  • No monthly service fee
  • No minimum balance requirements
  • No more than 6 preauthorized online banking, check, debit card, ACH debit, or overdraft transfer transactions per month
  • Free online banking with eStatements
  • Free mobile banking
  • $1.00 minimum deposit to open

Rate information: At our discretion, we may change the interest rates for this account.

o Tier 1 — If your daily balance is $100,000.00 or more, the interest rate paid on the entire balance in your account will be 2.250% APY*.

o Tier 2 — If your daily balance is less than or equal to $99,999.99, the interest rate paid on the entire balance in your account will be 0.650% APY*.

o Interest rates may change at any time.

Compounding frequency — Interest will be compounded quarterly.

Crediting frequency — Interest will be credited into this account quarterly.

Daily balance computation method — Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of interest on noncash deposits — Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.

Limitations on frequency of transfers — During any calendar month or statement cycle of at least 4 weeks, you may not make more than six (6) withdrawals 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, or by check, draft, debit card or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the financial institution.

Fees and Charges — The following fees and charges apply to this account: No service fee or minimum balance

*APY = Annual Percentage Yield