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Overview
Business Savings
For Businesses and Non-profit Organizations
Managing and saving your income is just “business as usual”. There are so many ways to get work done these days, and our account options give your business choices.
Business e-Savings
If you like to do everything online, choose an e-Savings account for electronic statements, easily accessed through our online banking system.
Business Savings
For those who would prefer paper statements, our Savings account is the right choice.
With each type of savings account, you can get unlimited in-branch transactions as well as 6 complimentary electronic (or telephone) withdrawals per month*.
An account to save money for your business or non-profit
- Balances over $100.00 earn dividends paid monthly
- $5.00 balance required to open and maintain
- $10.00 one-time membership fee
- No monthly maintenance fees with balance of $100.00 or more
- Overdraft protection transfers are available*
How to open a Business Savings Account
To open an account, you can apply online, or come into any of our branches. If you apply online, you will need to visit a branch within 30 days to sign your account agreement.
New Business Savings Account
What you will need to bring depends on the structure of your business. In general, to open an account you will need the following:
- Personal Identification
- Business License
- Proof of EIN
- Corporate documentation
- Resolution with authorized signers.
- Bring cash, check or card to fund the account. A 3% fee applies if you fund the account with a credit or debit card.
Disclosures
*An excessive withdrawal fee will apply if electronic transfers out of a savings account exceed 6 per month. Any overdraft protection transfers from a savings to a checking account are counted towards the 6 electronic transfers limit. No fees apply to in-person transactions for a savings account.
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Rates
Account Type Min. Opening Bal. Min. Bal. to Earn Dividends Dividend Rate APY* e-Business Savings
Electronic Documents$5.00 $100.00 0.15% 0.15% Business Savings
Paper Documents$5.00 $100.00 0.15% 0.15% *Annual Percentage Yield. Refer to our Pricing Guide (PDF) for all fees. Fees may reduce earnings. Rates are subject to change at any time. Current as of 29 November 2020.
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FAQ
Frequently Asked Questions
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What do I need to bring to open a Business Savings Account?
What you will need to bring depends on the structure of your business. In general, to open an account you will need the following:
- Personal Identification
- Business License
- Proof of EIN
- Corporate documentation
- Resolution with authorized signers.
- Bring cash, check or card to fund the account. A 3% fee applies if you fund the account with a credit or debit card.
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Is this account available for non profit organizations?
Yes, our Business Savings accounts can be used for a non-profit.
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What do I need to bring to open a Business Savings Account?
Home Business Savings Accounts