ONLINE BANKING ALERT:Retail Online Banking has a fresh, new look beginning August 9th. Business Online Banking to be updated at a later date.

BUSINESS BANKING

Money Market Accounts / CDs

 

Businesses need a place to save and manage their funds. Money market accounts and certificates of deposits provide two distinct ways to set excess balances aside and earn interest on these balances.

BUSINESS MONEY MARKET ACCOUNTS AND CDs

 

FEATURE

Commercial Money Market

Premier Commercial Money Market

Certificates of Deposit

Minimum opening deposit

$1,000 $25,000 $1,000

Maintenance fee

$121
Maintenance fee can be avoided by meeting the balance requirement
$202
Maintenance fee can be avoided by meeting the balance requirement
 

Free online banking & eStatements

 

Transaction Limitations

6 total debit transactions3;

20 deposited items

per statement cycle3+

6 total debit transactions3;

20 deposited items

per statement cycle3+

No transactions;

Penalty for early withdrawal

Interest Rate*

Tiered Based on

Account Balance4

Tiered Based on

Account Balance5

Fixed Rate

according to term
3 – 60 Months

 

1 Avoid a maintenance fee of $12 per statement cycle by maintaining a minimum daily balance of $2,500 or more in this account, or maintaining an average ledger balance of $5,000 or more. The average ledger balance is calculated from an aggregate of the daily ledger balances divided by the number of days for the statement period.
2 Avoid a maintenance fee of $20 per statement cycle by maintaining a minimum daily balance of $25,000 or more in this account, or maintaining and average ledger balance of $50,000 or more. The minimum daily balance is the current daily ledger balance. The average ledger balance is calculated from an aggregate of the daily ledger balances divided by the number of days for the statement period.
3 Per Regulation D** a fee of $15 per debit transaction over six (6) will be charged per statement cycle.
3+ A fee of $.30 per item deposited over 20 per statement cycle.
4 Commercial Money Market: Tiered interest rates based on account balances are subject to change without notice:
  • $0.01 - $9,999.99
  • $10,000.00 - $24,999.99
  • $25,000.00 - $49,999.99
  • $50,000.00 - $99,999.99
  • $100,000.00 and over
5 Premier Commercial Money Market: Tiered interest rates based on account balances are subject to change without notice:
  • $0.01 - $24,999.99
  • $25,000.00 - $99,999.99
  • $100,000.00 - $249,999.99
  • $250,000.00 - $749,999.99
  • $750,000.00 and over

 

* Interest is calculated using the daily balance method by applying a daily periodic rate to the principal balance in the account each day. Interest is compounded daily, credited monthly and paid on collected balance. No minimum balance required to earn interest.

 

** Regulation D Limitations on Withdrawals and Transfers Withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party are limited to six (6) per statement cycle. If an account continuously exceeds the debit transaction limit, we are required by federal regulation to close the account or transfer the account to another type of account.