Money Market and Savings
Business Money Market Account
A $2,500 minimum deposit will open a Business Money Market Account that allows you to earn a competitive rate of interest. Federal regulations limit third party or preauthorized transfers to six (6) per statement cycle, of which only three (3) may be made by check or draft.
- No maintenance fee with a:
- $2,500 Minimum daily balance or
- $3,500 average daily balance
- $10.00 will be charged for each withdrawal in excess of six (6) during the statement cycle
- Interest will be compounded daily on collected balances of $2,500 or more
- Interest will be credited to your account monthly
The Business Money Market Account is tiered to reward high balances with a premium rate of interest.
- Tier I $2,500 to $24,999
- Tier II $25,000 to $49,999
- Tier III $50,000 to $99,999
- Tier IV $100,000 to $249,999
- Tier V $250,000 and up
Business Statement Savings Account
With an opening deposit of $500, businesses earn interest on their savings at a competitive rate. The balances maintained in the account determine the amount of service charge, if any.
- No monthly maintenance fee if the balance remains above $500
- $5.00 will be charged if the balance falls below $500
- A fee of $5.00 will be charged for each withdrawal in excess of two (2) per month
- Unlimited deposits
- Interest will be compounded daily and credited to your account monthly
