Commercial Deposit Solutions
Choose from an array of checking and savings accounts that offer a wide range of services and benefits for businesses of all sizes.
Business Checking Solutions
At National Credit Union, we know that small businesses can be complex, but that doesn’t mean your checking account has to be. Our family of business checking accounts offers a wide range of services and benefits for businesses of all sizes. Whether you’re looking for interest, low fees or easy-to-understand itemized statements, National Credit Union has an account to fit your needs.
| Features | Simply Free Business Checking | Business Interest Checking | Business Account Analysis |
|---|---|---|---|
| Description | Business checking with no minimum balance, service charges, or fees. Includes 500 transactions per month and free online banking. | Business checking that earns and pays compound interest monthly. | Interest bearing business account. Includes a $10/month service charge and individual transaction fees. Earns a credit that can be applied against the next month's fees. |
| Minimum to open | N/A | N/A | N/A |
| No below-minimum-balance fee if you maintain a daily balance of | N/A | $1,500 | No minimum balance fee, but does include $10/month maintenance fee. |
| Monthly below-minimum balance fee | N/A | $6.00 | No minimum balance fee, but does include $10/month maintenance fee. |
| FREE items | Up to 500 single copy checks | N/A | Earn credit on account balances to offset analyzed account fees. |
| Over-item charge | Over 500 items or $10,000 in deposits or withdraws converts to analysis.‡ | N/A | N/A |
| Extra benefits | Check images included in monthly statements. | Check images included in monthly statements. | Check images included in monthly statements. |
Business Savings, MM & CDs
Our Business Savings and Money Market accounts offer our highest-interest-bearing rates specifically for business customers who have low transaction activity and high balances. If you don’t need access to your savings for at least three months, another savings option is a Certificate of Deposit (CD). Use the chart below to determine which account is the best fit for your business.
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Features
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Business Savings | Business Money Market | Business Premier Money Market | Certificate of Deposit (CD) | ICS® Accounts |
|---|---|---|---|---|---|
| Recommended if you are... | A simple, interest-bearing savings account | Interest-bearing account for those who make limited transactions | Interest-bearing account for those who make limited transactions | An account that is meant to be untouched for a set period of time and earns high interest rates. Terms range from 3 months to 5 years with a fixed rate | Deposit or savings account solutions that provide multi-million-dollar FDIC insurance coverage |
| Minimum to open | N/A | N/A | N/A | $500 | $40,000 |
| Minimum daily balance to avoid below-minimum-balance fee | $100 | $2,500 | $5,000 | N/A | N/A |
| Monthly below-minimum balance fee | $2.00 | $10.00 | $10.00 | N/A | N/A |
| Limitations | A fee is assessed when you exceed a predetermined number for certain types of withdrawals | If you exceed the transfer limitations set forth in the disclosure during 3 months of a 12 month period, your account will be changed to a Business Interest Checking account | If you exceed the transfer limitations set forth in the disclosure during 3 months of a 12 month period, your account will be changed to a Business Interest Checking account | Early withdrawal penalties apply | Early withdrawal penalties apply to CDARS® |
| Interest Bearing | Yes | Yes | Yes | Yes | Depends on account type |
ICS® and CDARS®
The Insured Cash Sweep (ICS)® and Certificate of Deposit Account Registry Services (CDARS)® products offer businesses and individuals competitive interest rates while providing complete FDIC coverage on amounts over the $250,000 federal limit. When you place your or your business deposits through the ICS® and/or CDARS® service, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000, which are placed in demand deposit accounts (using the ICS® demand option), money market deposit accounts (using the ICS® savings option), and/or CDs (using CDARS®) at multiple banks. As a result, clients can access guaranteed multi-million dollar coverage from many institutions while working directly with just one: National Credit Union. We’ll manage the multi-bank relationship for you without any service fees.
| Products | Need | The ICS® Solution |
|---|---|---|
| ICS® Demands | Maximize your insurance coverage while maintaining the flexibility of unlimited withdrawals. |
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| ICS® Savings | Maximize your insurance coverage while maintaining an interest-bearing account that provides the flexibility to make deposits and withdrawals. |
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| CDARS® | Have excess funds that you would like to invest in an insured, long-term interest-bearing account. |
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‡ Additional fees apply to analyzed accounts. Earn credit on account balances to offset fees.
Placement of your funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures set forth in the agreements, including the ICS or CDARS Deposit Placement Agreement, you enter into with us. Limits and customer eligibility criteria may apply. Program withdrawals vary by account.
Insured Cash Sweep, ICS, CDARS, and Certificate of Deposit Account Registry Service are service marks or registered service marks of IntraFi Network, LLC.
Additional documents and/or state registration may also be required. Contact us at 1-559-307-6588
*Unless specified otherwise, customer purchases checks. Other fees such as overdraft, nonsufficient funds (NSF) fee, continuous overdraft, etc. may apply. See fee schedule for details. Transaction items include all debits, credits, and deposited items. If the Totally Free Business Checking account exceeds 500 free monthly transaction items, $10,000 in monthly coin and currency deposits or withdrawals, including change orders, or requires additional regulatory oversight, the account may be changed to Business Analysis Checking which includes additional fees. Ask us for details. Bank rules and regulations apply.
*Unless specified otherwise, customer purchases checks. Other fees such as overdraft, nonsufficient funds (NSF) fee, continuous overdraft, etc. may apply. See fee schedule for details. Transaction items include all debits, credits, and deposited items. If the Totally Free Business Checking account exceeds 500 free monthly transaction items, $10,000 in monthly coin and currency deposits or withdrawals, including change orders, or requires additional regulatory oversight, the account may be changed to Business Analysis Checking which includes additional fees. Ask us for details. Bank rules and regulations apply.