Managing cash reserves is a vital strategy for all businesses. Our business savings programs allow you to shift surplus funds from your checking account, so your money earns interest while remaining accessible.
Business Life Money Market
Business Life Savings
|Transaction Limits||No more than six preauthorized withdrawals, automatic or telephone transfers, checks, drafts and debit card or other similar transactions per month. Minimum check amount is $500. Excess withdrawals are $25.00 each.|| |
|Minimum Opening Deposit||$2,500||$250|
|Minimum Balance Required/Fees Associated|| |
$25 monthly fee if below
$9 quarterly fee if below
|Interest|| || |
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IMPORTANT INFORMATION ABOUT OPENING A LEGAL ENTITY ACCOUNT
Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.
EACH time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number (as well as identification documents) for each individual that has beneficial ownership (25% or more) and one individual that has significant managerial control of the Legal Entity.
If you are opening an account on behalf of a Legal Entity, you will be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge.
We proudly support all efforts to protect and maintain the security of our customers and our country.