You trust us with your personal banking, so why not with your business needs? Cyprus Credit Union provides the tools and solutions necessary to take your business to the next level. This means, you can spend more time on your business and less on your bank account. To provide a better experience for our business members, we have created three new checking plans. Our vision in creating these plans was to offer more options to better accommodate the needs of our business members. Below, you can learn more about each of these plans:
ESSENTIAL SMALL BUSINESS CHECKING:
- No Monthly Fee
- Doesn’t earn interest
- $5 monthly fee for an optional paper statement
- There are monthly transaction fees:
- No fee for the first 100 checks deposited..15 per item after
- No fee for the first 100 checks written. .15 per item after
- No fee for the first 100 ACH credits. .10 per item after
- No fee for the first 100 ACH debits. .010 per item after
- No fee for cash deposited under $5000
- No fee for cash withdrawn under $5000
- If an account continually goes over cash limit, the account will be changed to the Choice checking plan
- Meant for business with smaller deposits and fewer transactions. Typically, these are going to be small side businesses or startups.
CHOICE BUSINESS CHECKING:
- Monthly Fee of $10
- $5 monthly fee if you’d like a paper statement
- There are monthly transaction fees:
- .05 per check deposited
- .05 per check written
- .02 per ACH credit
- .02 per ACH debit
- No fee for cash deposited under $5000 .35 per $1000 over
- No fee for cash withdrawn under $5000 .35 per $1000 over
- With Choice checking, you will be able to select between earning interest or earning credit.
- Earning credits is a special type of interest that helps offset month end fees. If there are any credits left, you do not get to keep them for next month or cash them in. If credits don’t offset all fees, your business will pay the difference.
- Meant for businesses that have larger deposits and frequent transactions. This account is best fit for a more established, long running business such as a medical office, HVAC, etc.
NON-PROFIT CHECKING:
- No Fees
- For groups like Girl Scouts, Church Organizations, Sport Teams, PTAs, etc.
If you have any questions or would like more information about any of the business services we provide, call (801) 260-7600 ext. 5270 or email businesservices@cypruscu.com.