Rates
Business Share Savings
| Type | APY | Minimum Daily Balance to Earn APY | Minimum Daily Balance to Avoid Fee | Below Minimum Balance Fee | Monthly Transaction Fee | Monthly Fee |
|---|---|---|---|---|---|---|
| Share Savings | 0.10% | $25 | $100 | $10 | None | None |
| Special Savings | 0.10% | None | None | None | None | None |
| Rates stated are effective as of 03/19/2012 as Annual Percentage Yield (APY) and may change after account opening. Accounts compounded and credited quarterly. | ||||||
The minimum balance requirement and below minimum balance fee applies if: i) your business maintains only a membership account and ii) your business has not used the membership account for six (6) consecutive months.
Business Checking
| Type | APY | Minimum Daily Balance to Earn APY | Minimum Opening Deposit | Minimum Daily Balance to Avoid Fee | Below Minimum Balance Fee | Monthly Transaction Fee | Monthly Fee |
|---|---|---|---|---|---|---|---|
| Tier 1: $1,000 – $4,999.99 | 0.05% | $1,000 | $100 | None | None | $0.12 per item | $6 |
| Tier 2: $5,000 – $9,999.99 | 0.05% | $1,000 | $100 | None | None | $0.12 per item | $6 |
| Tier 3: $10,000 – $24,999.99 | 0.10% | $1,000 | $100 | None | None | $0.12 per item | $6 |
| Tier 4: $25,000 and over | 0.15% | $1,000 | $100 | None | None | $0.12 per item | $6 |
| Rates stated are effective as of 03/19/2012 as Annual Percentage Yield (APY) and may change after account opening. Accounts compounded and credited monthly. Monthly transaction fees apply to both debit and credit items. | |||||||
Small Business Checking
| Type | APY | Minimum Daily Balance to Earn APY | Minimum Opening Deposit | Minimum Daily Balance to Avoid Fee | Below Minimum Balance Fee | Monthly Transaction Fee | Monthly Fee |
|---|---|---|---|---|---|---|---|
| Tier 1: $1,000 – $4,999.99 | 0.05% | $1,000 | $100 | None | None | $0.25 per item after 200 items | $6 |
| Tier 2: $5,000 – $9,999.99 | 0.05% | $1,000 | $100 | None | None | $0.25 per item after 200 items | $6 |
| Tier 3: $10,000 – $24,999.99 | 0.10% | $1,000 | $100 | None | None | $0.25 per item after 200 items | $6 |
| Tier 4: $25,000 and over | 0.15% | $1,000 | $100 | None | None | $0.25 per item after 200 items | $6 |
| Rates stated are effective as of 03/19/2012 as Annual Percentage Yield (APY) and may change after account opening. Accounts compounded and credited monthly. Monthly transaction fees apply to both debit and credit items. Monthly fee is waived if $7500 aggregate deposit and loan balance is maintained. | |||||||
Business Basic Checking
| Type | APY | Minimum Daily Balance to Earn APY | Minimum Opening Deposit | Minimum Daily Balance to Avoid Fee | Below Minimum Balance Fee | Monthly Transaction Fee | Monthly Fee |
|---|---|---|---|---|---|---|---|
| Business Basic Checking | None | None | $100 | None | None | 25 free debit and/or credit items then $0.25 per item | $6 per month (waived if less than 26 debit and/or credit items per month) |
| Rates stated are effective as of 03/19/2012 as Annual Percentage Yield (APY) and may change after account opening. Monthly transaction fees apply to both debit and credit items. Important Disclosure About Deposit Insurance on Noninterest-bearing Transaction Accounts | |||||||
Business Non-Profit Checking
| Tier | APY | Minimum Daily Balance to Open Account and Earn APY | Minimum Daily Balance to Avoid Fee | Below Minimum Balance Fee | Transaction Fee | Monthly Fee |
|---|---|---|---|---|---|---|
| $100 – $999.99 | 0.05% | $100 | None | None | $0.25 per item after 200 items | $6 |
| $1,000 – $4,999.99 | 0.05% | $100 | None | None | $0.25 per item after 200 items | $6 |
| $5,000 – $9,999.99 | 0.10% | $100 | None | None | 0.25 per item after 200 items | $6 |
| $10,000 – $24,999.99 | 0.10% | $100 | None | None | $0.25 per item after 200 items | $6 |
| $25,000 and over | 0.20% | $100 | None | None | $0.25 per item after 200 items | $6 |
| Rates stated are effective as of 03/19/2012 as Annual Percentage Yield (APY) and may change after account opening. Accounts compounded and credited monthly. Monthly transaction fees apply to both debit and credit items. Monthly fee is waived if $4000 aggregate deposit and loan balance is maintained. | ||||||
Business Money Market Accounts
| Tier | APY | Minimum Daily Balance to Open Account and Earn APY | Minimum Daily Balance to Avoid Fee | Below Minimum Balance Fee | Monthly Transaction Fee | Monthly Fee |
|---|---|---|---|---|---|---|
| $1,000 – $4,999.99 | 0.10% | $1,000 | $1,000 | $5 per month | None | None |
| $5,000 – $9,999.99 | 0.10% | $1,000 | $1,000 | $5 per month | None | None |
| $10,000 – $24,999.99 | 0.15% | $1,000 | $1,000 | $5 per month | None | None |
| $25,000 – $49,999.99 | 0.25% | $1,000 | $1,000 | $5 per month | None | None |
| $50,000 and over | 0.40% | $1,000 | $1,000 | $5 per month | None | None |
| Rates stated are effective as of 03/19/2012 as Annual Percentage Yield (APY) and may change after account opening. Accounts compounded and credited monthly. | ||||||
Business Certificates
| Type | APY | Minimum Daily Balance to Open Account and Earn APY | Compounding and Crediting | |||
|---|---|---|---|---|---|---|
| 3 Month | 0.25% | $1,000 | Monthly | |||
| 6 Month | 0.30% | $1,000 | Monthly | |||
| 1 Year | 0.40% | $1,000 | Monthly | |||
| 2 Year | .60% | $1,000 | Monthly | |||
| 3 Year | .85% | $1,000 | Monthly | |||
| 4 Year | 1.05% | $1,000 | Monthly | |||
| 5 Year | 1.40% | $1,000 | Monthly | |||
| Rates stated are effective as of 03/19/2012 as Annual Percentage Yield (APY) and may change after account opening. | ||||||
Additional Business Certificate information
Business Certificate APY listed is based on an assumption that the interest will remain on deposit until maturity. A withdrawal of interest may reduce earnings.
For Business Certificate accounts, deposits are allowed at maturity only; and withdrawals of interest only are allowed.
Maturity: Your account will mature as indicated on your Business Certificate receipt, or on your Renewal Notice.
Early Withdrawal Penalty: We may impose a penalty if you withdraw any of the principal from your account before the maturity date.
Amount of Penalty: The amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows:
Terms of 1 Year or less: 90 days interest
Terms of more than 1 Year: 180 days interest
How the Penalty Works: The forfeiture is calculated at the simple interest rate being paid on the account regardless of how long the funds withdrawn have remained in the account. The principal amount upon which the forfeiture is calculated is the amount withdrawn.
Renewal Policy: Your account will automatically renew for another term upon maturity, and all interest earned will become part of the new principal balance. You will have a grace period of ten (10) calendar days after maturity in which to withdraw funds without penalty.
Non-transferable/Non-negotiable: Your account is non-transferable and non-negotiable. The funds in your account may not be pledged to secure any obligation of an owner except obligations with the credit union.
IOLTA & IORTA
| Type | APY | Minimum Daily Balance to Earn APY | Minimum Daily Balance to Avoid Fee | Below Minimum Balance Fee | Monthly Transaction Fee | Monthly Fee |
|---|---|---|---|---|---|---|
| IOLTA Checking | 2.02% | $100 | None | None | None | None |
| IORTA Checking | 1.00% | $100 | None | None | None | None |
| Rates stated are effective as of 03/19/2012 as Annual Percentage Yield (APY) and may change after account opening. Accounts compounded and credited monthly. | ||||||
Funds in IOLTA and IORTA accounts will not be federally insured by the NCUA unless the clients for whom the funds are deposited are members of VSECU.
