Business Checking & Savings
Business Checking
*Annual Percentage Yields and Interest Rates are current as of October 21, 2022.
Small Business Checking
- Low cost checking for small businesses with limited transactions.Â
| Minimum Opening Deposit | Minimum Balance Requirement | Monthly Service Charge | Transaction Fees | APY* | Interest Rate |
|---|---|---|---|---|---|
|
$300 |
None |
None |
300 free items per month (includes deposits, deposited items, debits, ACH); $0.30/item over 300 |
None |
None |
Commercial Checking
- Earnings credit to offset fees = Current NOW account rate.
- Unlimited checkwriting.
- Essential tool for medium to large businesses with higher levels of activity.
| Minimum Opening Deposit | Monthly Balance Requirement | Monthly Service Charge | Transaction Fees | APY* | Interest Rate |
|---|---|---|---|---|---|
|
$300 |
None |
$10/month service charge + transaction fees |
$0.15/deposit, $0.10/deposited item, $.015/debit (includes ACH) |
None |
None |
Community NOW Checking
- Designed for non-profit organizations
| Minimum Opening Deposit | Monthly Balance Requirement | Monthly Service Charge | Transaction Fees | APY* | Interest Rate |
|---|---|---|---|---|---|
|
$300 |
No daily balance requirement to earn interest |
None |
None |
0.05% |
0.05% |
Merchant Checking
- Earnings credit to offset fees = Current NOW account rate (based on average monthly ledger balance less average uncollected balance and bank’s legal reserve amount).
- Designed for high volume retail accounts.Â
| Minimum Opening Deposit | Monthly Balance Requirement | Monthly Service Charge | Transaction Fees | APY* | Interest Rate |
|---|---|---|---|---|---|
|
$300 |
None |
$15/month service charge + transaction fees |
• $0.66/deposit
• $0.36/deposited item • $0.23/debit (includes ACH) • $1.35/$1,000 currency • $0.35/coin roll • $1.65/$1,000 currency (cash) deposited • FDIC insurance fee = $0.19/$100 average monthly balance • $75 overnight security fee |
None |
None |
Business Savings
Commercial Savings Account
- A safe haven for business assets
- Quarterly statement
| Minimum Opening Deposit | Monthly Balance Requirement | Monthly Service Charge | Transaction Fees | APY* | Interest Rate |
|---|---|---|---|---|---|
|
$200 |
No daily balance required to earn interest |
$9/quarter service charge if daily balance falls below $200 |
Nine free withdrawals per quarter; additional withdrawals are $1 each |
0.05% |
0.05% |
Commercial Money Market
- The higher the balance, the higher the rate
- Maintain minimum balances in the account each day to earn interest
| Minimum Opening Deposit | Monthly Balance Requirement | Monthly Service Charge | Transaction Fees |
|---|---|---|---|
|
$1,500 |
Daily balance requirement of $200 or more to earn interest |
$10/month service charge if balance falls below $5,000 |
Checks and electronic debits are $2 each. |
| Balance | APY* | Interest Rate |
|---|---|---|
|
Below $2,499.99 |
0.05% |
0.05% |
|
From $2,500.00 to $9,999.99 |
0.05% |
0.05% |
|
From $10,000.00 to $24,999.99 |
0.10% |
0.10% |
|
Above $25,00.00 |
0.15% |
0.15% |
Certificates of Deposit
- $500 minimum to open
- Maintain daily minimum balance of $500 or more to earn interest
| Type | APY* | Interest Rate |
|---|---|---|
|
12 Month CD |
3.51% |
3.46% |
|
15 Month CD |
0.20% |
0.20% |
|
18 Month CD |
0.25% |
0.25% |
|
22 Month CD |
0.25% |
0.25% |
|
24 Month CD |
0.30% |
0.30% |
|
30 Month CD |
0.30% |
0.30% |
|
36 Month CD |
0.40% |
0.40% |
|
48 Month CD |
0.50% |
0.50% |
|
60 Month CD |
0.55% |
0.55% |
Certificates of Deposit
- $2,500 minimum to open
- Maintain daily minimum balance of $2,500 or more to earn interest
| Type | APY* | Interest Rate |
|---|---|---|
|
3 Month CD |
4.06% |
4.00% |
|
6 Month CD |
4.35% |
4.28% |
|
9 Month CD |
0.15% |
0.15% |
Jumbo Certificates of Deposit
- $100,000 minimum to open
- Maintain daily minimum balance of $100,000 or more to earn interest
| Type | APY* | Interest Rate |
|---|---|---|
|
3 Month CD |
4.06% |
4.00% |
|
6 Month CD |
4.35% |
4.28% |
|
12 Month CD |
3.51% |
3.46% |
|
24 Month CD |
0.30% |
0.30% |
For current rate information, call 217-351-2870.
- Any fees associated with the above accounts can decrease the earnings on the account.
- Variable Rate Accounts are subject to interest rate changes after the accounts are opened.
- All certificates are subject to early withdrawal penalties.
For more information call or email:
Cary Steinman
[email protected], opens in default email program
(217) 351-2870
Zack Flynn
[email protected], opens in default email program
(217) 351-2870
