Business Savings

Statement Savings Account

  • This is an interest bearing account
  • No monthly maintenance charge if average daily balance is $200.00 or above
  • If the average daily balance falls below $200.00 or the account is inactive for a 12-month period, a $10.00 maintenance charge will be assessed per quarter

Insured Money Market (IMM) Account

  • This is an interest bearing account
  • A minimum deposit of $2,500.00 is required to open this account
  • If the daily balance falls below $2,500.00 during the month, a $15.00 maintenance charge is assessed at statement date

Certificate of Deposit (CD)

  • These are interest bearing accounts
  • Variable terms, ranging from 7 days to 5 years, are available with competitive interest rates

Escalator Certificate of Deposit (CD)

  • This is an interest bearing account
  • This is an 18-month CD to which unlimited deposits may be made in increments of $150.00 or more
  • A minimum deposit of $1000.00 is required to open this account with a $250,000.00 maximum
  • The rate may be increased by the customer one time during the term of the certificate

Municipal IMM Account

  • The Municipal IMM (Insured Money Market) Account is exclusively designed to address the specific needs of towns, school districts, fire districts (not departments), villages, counties, states, and various public fund districts, which have a specific designation
  • A minimum deposit of $2500.00 is required to open the account
  • If the daily balance falls below $2500.00 during the month, a $15.00 maintenance charge is assessed at statement date
  • No per check charge
  • A credit for checkbook charges will be refunded, not to exceed $25.00
  • A minimum balance of $100,000.00 yields a higher rate of interest