Business Savings
Three savings accounts designed to meet the needs of our commercial consumers.
Each account is designed to pay a competitive interest rate.
Business Savings Account Comparison
| Account Name | Classic | Preferred | Investor |
| This option is designed for... |
Basic savings and short-term needs |
Earning better rates on higher balances | Liquidity and premium rates on significant balances |
| It features... | Online banking Basic savings rates |
Online banking Tiered-rates |
Online banking Tiered rates based upon 91 day US T-Bill Monthly statement Limited check-writing |
| Minimum Balance Required | $50.00 | $1,000.00 | $25,000.00 |
| Maintenance Monthly/Charge |
None, or $5.00 if below minimum |
None, or $10.00 if below minimum |
None, or $25.00 if below minimum |
| Activity Charges Per Month* |
5 free withdrawals; then $1.00 each |
5 free withdrawals; then $1.00 each |
6 free withdrawals; max of 3 by checks** |
| Interest paid... *** | when minimum exceeds $50.00 |
on four tiers starting at $0.00, $1,000.00 $10,000.00 and $25,000.00 |
on three tiers starting at $0.00, $25,000.00 and $50,000.00 |
| Interest earned on... | daily collected balance; compounded and paid quarterly | daily collected balance; compounded and paid quarterly | daily collected balance; paid monthly |
* Please see the miscellaneous fee schedule for other charges that may apply to these accounts.
** Transfers from a savings account to another account or to third parties by pre-authorized automatic or telephone transfers
are limited by Federal regulation to six per statement cycle. No more than three of the six transactions may be made by check,
wire transfer or made payable to third parties.
*** Please refer to our deposit account
rates for current rate information on our interest bearing accounts. At our discretion,
interest may change daily. Interest begins to accrue no later than the business day we receive credit for the deposit of non cash items (i.e. checks).
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 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.
