Earn dividends or cash back
Business Savings
Find the right savings account for your business.
This account serves as your ownership share in the credit union, and it is where you keep your $5 share of membership.1 With a Share Savings Account, you’ll gain access to our full suite of business products and plenty of money-saving benefits along the way.
Features & Benefits
Just $5
With a one-time membership fee of just $5,$100 initial opening deposit is required; however, after the initial opening deposit, $5 minimum balance is all that is required to maintain membership standing. you can establish your membership and gain access to great money-saving tools and products.
Predictable Returns
Because this account is not subject to market risks, your money will earn fixed, predictable returns based on the current rate.Fees may reduce earnings. Offer is subject to change. Certain exclusions may apply.
Easy Cash Access
Access to your funds 24/7 at one of our 30,000+ ATMs. Plus, make deposits anytime using our mobile app or stop by your nearest branch.
Also Included
- Free 24/7 Digital Access
- Deposits are federally insured by NCUA
- Access to e-Statements, e-Notices, and e-Alerts
- Dividend earnings
Terms & Fees
| Term | Fee |
|---|---|
| Minimum opening deposit | $100$100 initial opening deposit is required; however, after the initial opening deposit, $5 minimum balance is all that is required to maintain membership standing. |
| Minimum daily balance | $5 |
| Monthly low balance fee | None |
| Monthly service fee | $0 |
Frequently Asked Questions
Do I need a business savings account?
While it’s not a must, having a business savings account is a smart move. It helps keep your business and personal finances separate, making everything from tracking expenses to managing taxes a lot easier. Plus, it’s a great way to save up for future projects or handle any unexpected costs.
When should I open a savings account for my business?
It’s a smart move to open a business savings account as soon as you launch your business and start seeing some cash flow. Setting it up early helps you keep your finances organized and plan ahead. Plus, you’ll need to open a $5 share savings account to establish your membership. So, why not use that account to start building your business savings? Taking care of this now will make managing your money a whole lot easier down the road!
What are the benefits of a business savings account?
There are several perks:
- Clear Separation: Keeps your business and personal finances apart, making your life easier come tax time.
- Interest Earnings: Your business savings can actually grow with interest.
- Better Planning: Helps you budget and save for future expenses or opportunities.
- Emergency Fund: Offers a financial cushion for unexpected surprises.
How do I apply for a business savings account?
Applying is simple! Just visit your local branch with the following documents, which may vary based on your business structure (e.g., Corporation, LLC, Sole Proprietorship, or Partnership):
- Proof of Business: Such as a business license.
- Tax ID Number: Your EIN or TIN.
- Personal Identification: Valid ID for the business owner(s).
- Business Documents: Including incorporation papers or similar documents.
What is the monthly fee for a business savings account?
Great news! We don’t charge a monthly fee for your business savings account. However, fees may apply for specific transactions like overdrafts or returned deposits. Please refer to our Business Fee Schedule for a complete list of potential fees.