An interest bearing account available only to eligible businesses and organizations as defined by the IRS code. A minimum daily balance is required to avoid a monthly service fee. The interest rate and annual percentage yield depend on the daily balance. A variable rate deposit account with tiered interest rate pricing that allows businesses to invest excess funds into a liquid account. A low monthly minimum balance requirement avoids a service charge fee.
Interest is compounded monthly and credited to the account monthly.
We offer a cash management account repurchase program which provides its customers the opportunity to have excess funds invested on a daily basis. Using an agreed upon balance in a Commercial Checking account, funds exceeding that balance are automatically transferred to the Cash Management account. Balances in these accounts earn interest accrued daily and paid monthly. Cash Management Funds are not FDIC insured. Certificate of Deposit Competitive 31 and 91 day C.D.s with interest paid at maturity available for short term liquidity needs.