Business Banking

Business Checking Account Platinum

(For businesses and incorporated associations usually writing less than 50 checks per statement cycle)

Features

• Flat monthly service fee of $8.00
• Can write 50 checks per statement cycle without incurring fees

Benefits

• Original checks are returned with each monthly statement
• Month-end statement cycle

Cost

• Minimum deposit of $500.00
• Flat monthly service fee of $8.00
• Minimum balance fee of $6.00 will be imposed on the statement cycle if the balance in the account falls below $500.00 any one time during the statement cycle
• If more than 50 checks are written per statement cycle, a $2.00 fee will be imposed

Business Checking Account Platinum Plus

(For businesses and incorporated associations usually writing more than 50 checks per statement cycle)

Features

• Flat monthly service fee of $10
• Unlimited check writing privileges

Benefits

• Original checks are returned with each monthly statement
• Month-end statement cycle

Cost

• Minimum deposit of $1,000.00
• Flat monthly service fee of $10.00
• Minimum balance fee of $6.00 will be imposed on the statement cycle if the balance in the account falls below $1,000.00 any one time during the statement cycle

Business Checking Account Business “NOW” Checking
- Interest Bearing Business Checking Account

(For non-profit associations or sole proprietorship)

Features

• Interest-bearing business checking account
• First thirty (30) checks written free each statement cycle

Benefits

• Competitive interest rate for collected balances of $500.00 or more.
• Original checks are returned with each monthly statement
• Monthly statement cycle

Cost

• No monthly service fee with a $500.00 minimum daily balance
• Monthly service fee of $6.00 if balance falls below minimum balance
• $.10 per check charge for any checks written over the allotted thirty (30) per statement cycle

Business Money Market Account
- Interest Bearing Business Account

(Cash Management Account)

Features

• Interest-bearing business account
• Tiered interest rates—In most cases, the higher your balance, the greater your interest rate.
• Limited check writing privileges
• Limit of six (6) transfers per statement cycle, three being by use of account check (Certain limitations apply)

Benefits

• Earn a rate that is competitive with the market
• Transfers or withdrawals made in person are unlimited
• In most cases, The greater your balance, the greater your interest rate

Cost

• $2,001.00 to open account
• $2,001.00 minimum balance maintained
• $500.00 minimum for each withdrawal
• You must maintain the minimum amount in each tier to obtain the annual percentage yield (APY)

Business Debit Card

Features and Benefits

Reduce your need for checks or cash

• Automatically deduct funds from your business checking account – no need to write a check, show identification, or wait for check approvals.
• No monthly payments or finance charges (unless you utilize an overdraft line of credit).
• No need to carry extra cash or keep a lot of petty cash on hand with 28 million acceptance locations and over 600,000 ATMs worldwide.
• Get authorization for immediate shipment of any mail, phone or internet orders.
• Set variable daily limits on purchase and cash withdrawals to protect account from fraud.
• Request extra cards for your employees with preset spending limits.

Increase your money management capabilities

• Get a receipt with every purchase to better keep track of spending.
• Set spending controls for your employees.
• Reduce the need to use personal funds for business purchases.
• Receive detailed monthly bank statements for easy account reconciliation, expense reporting, and identification of tax deductions.

*We also offer customers a Business Credit Card which works like a regular credit card would.

Business Line of Credit (PrimeLine)

A business line of credit benefits a business that is interested in having an open line of credit that is easily accessible through the writing of a check. The funds available would not decrease as the loan is paid off, but remain the same as the original loan amount.

Features

• Qualifications: Applicants should be a closely held business (sole proprietors, partnerships and “S” corporations)
• Terms:
  • Maximum of five (5) years,
  • First two years are revolving and
  • The product will convert to a term loan in the remaining three (3) years.
• Renewals: Subject to review. Applicants may be able to renew the revolving term prior to the loan converting to a term loan. Maximum renewal period is two (2) years.
• Accessing the credit line: PrimeLine checks will be issued in conjunction with over-the–counter and telephone withdrawals .
• Pricing: Prime Rate + Margin
  • Checks may be written to other parties
  • Initial rates are based on the credit line size and perceived risk.

Other Business Accounts and Services

Commercial Loans
Commercial Loans (Business Loans) are offered on a case by case basis. Please refer the business customer to the Loan Center to discuss possible options.

Electronic Funds Transfer Payment System (EFTPS)
This is the easiest way for a business customer to pay for all their Federal Business Taxes. Using a phone or a personal computer, a business can input their tax payment information and send it.

Features

• Use this service 24 hours a day, 7 days a week from your home or office.
• Pay all your federal business tax payments, including income, estimated, and excise taxes.
• Same day payments