Business Basic Checking
The Business Basic Checking account was designed to
fit the daily needs of businesses like yours and enable you to more
effectively manage your money. This account has been created to reduce the
complicated rules and restrictions that can be tied to business checking
accounts. The Business Basic Checking account is offered to our business
clients who have need for a secondary and/or basic checking account and
desire simplicity.
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Business Select Checking
The Business Select Checking account is the foundation
on which we build your ability to manage day-to-day finances from your
office. This account serves as your primary business operating account and
was established to provide your business with economical banking benefits.
Our analyzed account allows you to offset any potential fees with the
balances maintained in your account. This ensures your funds are
continuously working for you.
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Earnings Credit
Since business banking
accounts are not able to accrue interest we offer an Earnings Credit. An
Earnings Credit is a non-cash credit to your checking account that is used
to offset service charges. It is a way for us to acknowledge the value we
place on your relationship with us.
Your monthly Earnings
Credit is calculated based on your average investable balance and the
Earnings Credit rate which is adjusted monthly. To view a sample calculation
of an Earnings Credit, see additional insert titled Sample Earnings Credit
Calculation. Below are some definitions of terms that will be utilized in
the calculation of your monthly Earnings Credit.
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Definitions of terms
- Average Positive Collected Balance - The total accumulated daily collected balance divided by the number of days in the statement cycle.
- Reserve Requirement - Federal regulations require banks to hold a percentage of deposits in reserve.
- Average Investable Balance - The difference between the Average Positive Collected Balance and the amount of the Reserve Requirement. This is the amount on which the Earnings Credit rate will be applied to calculate your monthly Earnings Credit.
- Earnings Credit Rate - This rate will be applied to the average collected period balance and used to offset service charges in the same period. The Earnings Credit rate will be calculated at 70% of the 13-week moving average of the 91-day Treasury bill rate as of the first day of each month.
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Business Investments
Money Market Investment Account
For our business clients that have excess funds to
invest but need to ensure the funds are readily accessible, our Money Market
Investment account offers highly competitive return on your funds. The
interest rate is tied to the 13-week moving average of the 91-day Treasury
bill auction rate, ensuring your funds are always being paid an interest
rate that is competitive and reflects market conditions. In addition, you
have easy access to these funds should you need them. It is as easy as
writing a check or transferring the funds into your daily operating account
through eBusiness.
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Certificates of Deposit
If your business has excess funds that you need to
invest, and do not need easy access to these funds for a set period of time,
a Certificate of Deposit is a great investment alternative. Certificates of
Deposit are investment opportunities that offer a fixed return.
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/Member FDIC 
