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Business Account Dividend Rates

Jumbo Certificate Accounts and Jumbo IRA Certificate Accounts are available for amounts of $50,000 or more. Jumbo Certificate Accounts and Jumbo IRA Certificate Accounts with a minimum balance of $50,000 or more earn the stated APYs below plus .05%. Jumbo Certificate Accounts and Jumbo IRA Certificate Accounts with a minimum balance of $100,000 or more earn the stated APY plus .10%.

 

Business Savings and Checking Accounts

Account APY Dividend Rate Minimum to Open
Business Savings 0.10% 1 2 0.10% $5
Value Business Checking na na $5
Enhanced Business Checking 0.15% 1 2 0.15% $5
IOLA Checking ($0-$9,999.99) 0.05% 1 2 0.05% $0
IOLA Checking ($10,000+) 0.15% 1 2 0.15% $10,000

Business Tiered Money Market Accounts

Account APY Dividend Rate Minimum to Open
Regular 0.10% 1 2 0.10% $1,000
Preferred 0.20% 1 2 0.20% $20,000
Peak 0.25% 1 2 0.25% $50,000
Peak Plus 0.30% 1 2 0.30% $250,000

Certificate Accounts

Account APY Dividend Rate Minimum to Open
3 Months 0.20% 1 2 0.20% $500
6 Months 0.60% 1 2 0.59% $500
12 Months 1.30% 1 2 1.29% $500
24 Months 1.25% 1 2 1.24% $500
36 Months 1.45% 1 2 1.44% $500
48 Months 1.75% 1 2 1.73% $500
60 Months 1.90% 1 2 1.88% $500

Flex Certificate Accounts

Account APY Dividend Rate Minimum to Open
12-Month Flex 2.20% 2 3 2.17% $750
Rates are accurate as of 12/01/2019 and are subject to change without notice. APY = Annual Percentage Yield
RATES DISCLOSURES
1  Disclosed are the Dividend Rate and APY for all business savings, Enhanced Business Checking, business tiered money market, and certificate accounts. The minimum balance to open a business savings account or business checking account is $5.00. The minimum balance to open a business tiered money market account is $1,000. There is no minimum balance to open an IOLA Checking Account. The minimum balance to open a certificate account is $500. The minimum balance to open a jumbo certificate account or a jumbo IRA certificate account and earn the stated APY plus .05% is $50,000, or $100,000 to earn stated APY plus .10%. For business savings, Enhanced Business Checking, and business tiered money market accounts Regular tier, there is no minimum balance required in order to earn the disclosed APY. A minimum daily balance of $20,000 for the Preferred business money market tier, $50,000 for the Peak business money market tier, and $250,000 for the Peak Plus business money market tier must be maintained to earn the respective APYs. For IOLA Checking Accounts $0-$9,999,99 tier, there is no minimum balance required to earn the disclosed APY. A minimum daily balance of $10,000 for the IOLA Checking Account $10,000 tier must be maintained to earn the respective APY. 
2  For all accounts, dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. Fees or other conditions could reduce earnings on any of the listed accounts.  A substantial penalty will be imposed for early withdrawals of certificate accounts. For purposes of this disclosure, these Dividend Rates and APYs are offered within the most recent seven calendar days and are accurate as of the date set forth in this page. All accounts are subject to the applicable terms and conditions set forth in the Business Account Agreement, Disclosure and Account Agreement for Certificates and IRA Certificates, the Business Fee Schedule, and any agreement to which the Business Account Agreement references.
3  Disclosed are the Dividend Rate, APY, and minimum opening balance to earn the stated APY for Flex Certificate Accounts. The variable Dividend Rate and APY are effective 10/1/19 through 12/31/19. The APY is determined by adding .25% to the 3-month Treasury Bill auction investment rate on the last Thursday of each quarter. The dividend rate is subsequently calculated based on the indexed APY. Rate is subject to change after account opening. IRA and Jumbo Flex Certificate Accounts earn the same Dividend Rate and APY as regular Flex Certificate Accounts. A substantial penalty will be imposed for early withdrawal.
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