Money Market & Other Savings for Businesses
Money Market Accounts are for businesses with large balances that want market-responsive rates and liquidity. The interest rate is determined by the balances kept in the account. A money market account also allows access to funds via multiple channels, with a limited number of monthly account transactions.
A Business Savings Account is more liquid than a Money Market Account, while a Certificate of Deposit (CD) is deposit that is kept with a bank for a certain fixed amount of time.
Business Money Market Account
An investment account available to businesses, organizations, sole proprietorships, security deposits, escrow funds, trusts and other fiduciary accounts, public funds and nonprofit organizations operating for religious, charitable, educational or similar purposes, a Business Money Market account requires a $2,500 minimum balance.
Business PrimeLink Investment Account
Earn greater returns on your higher balances with a tiered structure account. A PrimeLink Investment account allows your commercial funds to earn a variable interest rate based on your balances and is tied to the national prime interest rate as posted in The Wall Street Journal. This account requires a $50,000 minimum balance.
Business Savings Account
Our Business Savings Account is designed to earn interest while not locking up deposits for an extended period of time. Unlimited deposits may be made at the teller line or through the night depository. Interest is credited and compounded monthly based on the daily collected balance.
To open a Business Savings Account for your business, contact us at 800-322-3623.
Certificates of Deposit
Certificates of Deposit offer fixed rates over a specified term – generally from 30 days to five years. Annual Percentage Yields are higher than with savings accounts and typically increase with the length of the term. CDs are excellent investments for those who don't require liquidity and seek a predictable return.
To open a Certificate of Deposit for your business, contact us at 800-322-3623.