Business


We have a large range of business banking solutions tailored to meet the demands of your growing business.


Business Checking


Sole Proprietorship Account Non-Interest Bearing Account

Minimum deposit to open
You must deposit $100.00 to open this account
Deposit Limitations
You may make an unlimited number of deposits into your account. Fees - A service charge fee of $6.00 will be charged every statement cycle.
Additional Terms
Account can be provided eStatements/eNotices. Refer to Common Features (Limits and Fees) for fees that may affect your account.

Business Checking Account Non-Interest Bearing Account

Minimum deposit to open
You must deposit $500.00 to open this account.
Deposit Limitations
You may make an unlimited number of deposits into your account. Minimum balance to avoid imposition of fees - A service charge fee of $29.95 and a per debit item fee of $0.25 for each debit transaction (withdrawal, check paid, automatic transfer, ATM/POS or payment out of this account) will be imposed every statement cycle if the balance in the account falls below $3,000.00 any day in the cycle. There is no service charge fee or a per debit item fee if the balance in the account is $3,000.00 and above every day during the cycle. Additional Terms - Account can be provided E-Statements/E-Notices. Refer to Common Features (Limits and Fees) for fees that may affect your account.

Non-Profit Business Checking Account Non-Interest Bearing Account

Minimum deposit to open
You must deposit $100.00 to open this account.
Deposit Limitations
You may make an unlimited number of deposits into your account. Minimum balance to avoid imposition of fees - A service charge fee of $5.00 will be imposed every statement cycle if the balance in the account falls below $500.00 any day in the cycle. There is no service charge fee if the balance in the account is $500.00 and above every day during the cycle.
Additional Terms
Account can be provided E-Statements/E-Notices. Refer to Common Features (Limits and Fees) for fees that may affect your account.

Business Checking Account Interest Bearing Account

Minimum deposit to open
You must deposit $2,000.00 to open this account.
Deposit Limitations
You may make an unlimited number of deposits into your account. Minimum balance to avoid imposition of fees - A service charge fee of $29.95 and a per debit item fee of $0.25 for each debit transaction (withdrawal, check paid, automatic transfer, ATM/POS or payment out of this account) will be imposed every statement cycle if the balance in the account falls below $5,000.00.
Additional Terms
Account can be provided E-Statements/E-Notices. Refer to Common Features (Limits and Fees) for fees that may affect your account.
Rate Information
Your interest rate and annual percentage yield may change.
Frequency of rate changes
We may change the interest rate on your account at any time. Determination of rate - At our discretion, we may change the interest rate on your account. Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account
If you close your account before interest is credited, you will not receive the accrued interest.
Daily balance computation method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).

Business Money Market Account

Minimum deposit to open
You must deposit $2,500.00 to open this account.
Deposit Limitations
You may make an unlimited number of deposits into your account. Minimum balance to avoid imposition of fees - A service charge fee of $29.95 will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle. Transaction limitations - Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check, draft, or similar order to third parties are limited to six per statement cycle. If you exceed the transfer limitations more than three times in a 12-month period, your account will be changed to a non-interest bearing account, or it may be closed.
Fees
A transaction fee of $5.00 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of six per statement cycle. Additional Terms - Account can be provided E-Statements/E-Notices. Refer to Common Features (Limits and Fees) for fees that may affect your account.
Rate Information
Your interest rate and annual percentage yield may change.
The Money Market account consists of 3 rate tiers based on the balance.
  • Tier 1: Daily balance is $25,000.00 or more.
  • Tier 2: Daily balance is $2,500.00 or more but less than or equal to $24,999.99.
  • Tier 3: Daily balance is less than or equal to $2,499.99.
  • Please check with the bank for rates regarding each of the above tiers.
Frequency of rate changes
We may change the interest rate on your account at any time. Determination of rate - At our discretion, we may change the interest rate on your account. Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account
If you close your account before interest is credited, you will not receive the accrued interest.
Daily balance computation method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).

Business Savings


Business NOW Account Must meet eligibility requirements

Minimum deposit to open
You must deposit $500.00 to open this account.
Deposit Limitations
You may make an unlimited number of deposits into your account. Minimum balance to avoid imposition of fees - A service charge fee of $9.95 will be imposed every statement cycle if the balance in the account falls below $500.00 any day of the cycle.
Transaction limitations
Transfers from a Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle with no transfers by check, draft, debit card or similar order to third parties. If you exceed the transfer limitations more than three times in a 12-month period, your account will be changed to a non-interest bearing account, or it may be closed.
Fees
A transaction fee of $4.00 will be charged for each debit transaction (withdrawal, automatic transfer or payment out of this account) in excess of six during a cycle. Additional Terms - Account can be provided E-Statements/E-Notices. Refer to Common Features (Limits and Fees) for fees that may affect your account.
Rate Information
Your interest rate and annual percentage yield may change.
Frequency of rate changes
We may change the interest rate on your account at any time. Determination of rate - At our discretion, we may change the interest rate on your account. Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Effect of closing an account
If you close your account before interest is credited, you will not receive the accrued interest.
Daily balance computation method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).

Business CDs & IRAs

Minimum balance to open the account
You must deposit $1,000.00 to open this account.
Transaction limitations:
  • You may not make any deposits into your account before maturity.
  • You may not make withdrawals of principal from your account before maturity.
  • You cannot withdraw interest from your account before maturity unless, at account opening, you arrange to have interest paid to you by check or credited into another account with us. Additional Terms - Refer to Common Features (limits and fees) for fees that may affect your account.
Rate Information (fixed rate account)
The interest rate on your account is ————% with an annual percentage yield of —————%. You will be paid this rate until first maturity. Compounding frequency - Interest will be compounded at maturity, or annually, whichever occurs first.
Crediting frequency
Interest will be credited to your account at maturity, or annually, whichever occurs first. Alternatively, you may choose to have interest paid to you by check or to another account monthly or quarterly rather than credited to this account. IRA interest will be credited quarterly to this account.
Daily balance computation method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Accrual of interest on non-cash deposits - Interest begins to accrue on the business day you deposit non-cash items (for example, checks). Time requirements - Your account will mature ——————————————————.
Early withdrawal penalties
(a penalty may be imposed for withdrawals before maturity)
  • If your account has an original maturity of less than 12 months:
    The fee we may impose will equal one month’s interest on the amount withdrawn subject to penalty.
  • If your account has an original maturity of 12 months or more:
    The fee we may impose will equal three month’s interest on the amount withdrawn subject to penalty.
  • In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.
  • For any time deposit which earns an interest rate that may vary from time to time during the term, the interest rate we will use to calculate this early withdrawal penalty will be the interest rate in effect at the time of the withdrawal.
Automatically renewable time account
This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any) or we receive written notice from you within the grace period mentioned below, if any. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, interest will not accrue after final maturity.
Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit.
You will have ten calendar days after maturity to withdraw the funds without a penalty. Withdrawal of interest prior to maturity - The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.

 

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