Free Business Checking
Our “Free” business checking account has no balance requirement, no monthly maintenance fee, or per item charges*, and has a $1,000 Overdraft Limit, if you so choose.
* Subject to analysis service charges if transaction volumes exceed 200-deposited items per statement cycle.
Overdraft Limit
Upon expiration of the initial new account period of thirty (30) calendar days, all business checking accounts are eligible to receive a $1,000.00 overdraft limit. If your organization does not desire this overdraft limit service, please contact any branch location to complete an “opt out” form to discontinue this account service.
Business – Savings Accounts
Statement Savings
We offer a Statement Savings account paying a competitive rate of interest. You will not be assessed any service charges with this account. A monthly statement is provided for your convenience.
Commercial Money Market
Certificates of Deposit
Health Savings Accounts (HSA)
Any employer, regardless of size, or whether or not they are incorporated, can contribute to an HSA for their employees as long as the employees are covered by a high deductible health plan (HDHP). Employer contributions are excluded from the income of the employee (i.e., they are tax-free to the employee). Employer contributions are not subject to federal income taxes, Social Security (FICA) taxes, or unemployment (FUTA) taxes.
Generally, employers take a federal income tax deduction on the business income tax return for the year of HSA contributions for employees, because such contributions are considered medical expenses. Please consult your tax advisor for the impact on your business tax situation.
