This straightforward savings account can help put your business in a position to take advantage of opportunities when they arise. Receive a competitive rate and access to your funds when needed.
- Competitive rates
- Free online banking
- Avoid $6.75 quarterly minimum balance fee by maintaining $100 minimum daily balance
- No minimum deposit to open
Money Market Account
Increase your earning potential without locking up your funds. In fact, access is enhanced with direct check-writing ability.
- Tiered rate structure
- Ability to earn higher rate with larger balances
- Enhanced access to funds via direct-check writing:
- 6 free transactions per month; $5 per withdrawal in excess thereafter
- Free online banking
- Avoid $15 monthly minimum balance fee by maintaining $2,500 minimum daily balance
Certificates of Deposit (CDs)
Improve your earnings without risking any of your company's cash assets. Simply pick the term and your funds earn a guaranteed fixed rate. By laddering maturity dates, you can add liquidity to your CD investments.
- Higher returns than savings accounts*
- Fixed rates for length of term
- Interest compounded and credited to your account quarterly**
- Terms range from 3 months to 5 years
- Early withdrawal penalties apply***
- $500 minimum deposit to open
* Fees may reduce earnings
**If interest is credited to another account or paid by check, this may reduce earnings and may negate the effect of interest compounding.
***Subject to penalty (up to 6 months interest), dependent on original term.
Maintain a better work environment and more satisfied employees by helping them meet their retirement goals. Our SIMPLE IRAs require minimal paperwork and administrative burden of you — making it an all-around win for both you and your employees.
- Available to any small business – generally with 100 or fewer employees
- Gain the respect of your employees
- Employees have the option to make self-contributions
- Help employees reach their retirement savings goals
- Employee always has complete ownership of all SIMPLE IRA money
- Earns a competitive interest rate
- Employer must not have any other retirement plan
- Minimal paperwork necessary; no filing requirements
- Inexpensive to set up and operate
- Lower contribution limits than some other retirement options
- Employees share responsibility of growing their retirement
- Each year, employer is required to contribute:
- Matching contribution up to 3% of compensation, or
- 2% nonelective contribution for each eligible employee*
*Under the "nonelective" contribution formula, even if an eligible employee doesn't contribute to his or her SIMPLE IRA, that employee must still receive an employer contribution to his or her SIMPLE IRA equal to 2% of his or her compensation.
Looking for more info or have a question about any of these accounts? Please send us a message, and we'll be in touch with you shortly.