Business Savings
Dependable Deposit Account
Securing a solid financial foundation is paramount to a business’s success. At ProFed Credit Union, we understand the unique challenges faced by entrepreneurs and the importance of safeguarding your business’s financial future. That’s why we offer a comprehensive Business Savings Account tailored to meet the diverse needs of small business owners. Incorporating a savings account into a business's financial strategy can bolster cash flow management, mitigate risks, and foster long-term financial health. ProFed offers regular savings, certificates, and money market accounts for all businesses with competitive interest rates.
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Savings |
Money Market Plus |
Certificate |
|---|---|---|
BenefitsMember owner after $5.00 is deposited Unlimited transactions Earn dividends No transaction fees No monthly maintenance fee Easy access with Digital Banking |
BenefitsMake withdrawals anytime Earn more dividends with higher account balances Unlimited transactions Earn dividends Withdraw $100.00+ with no penalty Easy access with Digital Banking |
BenefitsEarn greater dividends than a regular savings account Withdraw dividends with no penalty Earn dividends |
Requirements$5.00 minimum opening deposit $5.00 minimum balance requirement is required to keep account open $125.00 minimum daily balance is required to earn dividends |
Requirements$2,500.00 minimum opening deposit $2,500.00 minimum balance is required to avoid fees |
Requirements$500.00 minimum opening deposit 3 - 60 month terms |
Why Choose ProFed’s Business Savings Account?
- Competitive Rates: Our Business Savings Account offers competitive interest rates, ensuring that your idle fund generates passive income and contributes to your bottom line.
- Convenient Access: Enjoy seamless account access to your funds whenever you need them. Whether it’s through online banking with ProFed’s Digital Banking app or visiting one of our conveniently located branches in person, managing your business savings has never been easier or more accessible.
- Financial Stability: By establishing a Business Savings Account, you are taking a proactive step towards securing your business’s financial stability. Whether building a safety net for emergencies or saving for future expansion, our account empowers you to weather any financial storm with confidence.
- Community-Centered: As a member-owned credit union, ProFed is deeply rooted in the community we serve. When you choose us for your business banking needs, you're not just a customer - you’re part of a supportive community dedicated to mutual success and prosperity.
Savings Rates
Open Account| Membership Savings | Dividend Rate (Compounded Monthly) | APY* (Compounded Monthly) |
|---|---|---|
| Regular Savings** | 0.05% | 0.05% |
| Savings 2 & 3 | 0.05% | 0.05% |
Membership at ProFed is required. *APY = Annual Percentage Yield. **$5.00 minimum opening deposit for primary Membership Savings Account. You must maintain a minimum daily balance of $125.00 to earn dividends.
Money Market Plus Savings Rates
| Money Market Plus Savings* | Dividend Rate (Compounded Monthly) | APY* (Compounded Monthly) |
|---|---|---|
| Up to $2,499.99 | 0.05% | 0.05% |
| $2,500 - $9,999.99 | 0.20% | 0.20% |
| $10,000 - $24,999.999 | 0.45% | 0.45% |
| $25,000 - $49,999.99 | 0.80% | 0.80% |
| $50,000 - $99,999.99 | 1.00% | 1.00% |
| $100,000 and Over | 1.29% | 1.30% |
Membership at ProFed is required. *If during the month your account falls below the minimum balance of $2,500.00, your account will be subject to a $10.00 fee for that month. Withdrawals must be made in a minimum amount of $100.00. You must maintain a minimum daily balance of $125.00 to earn dividends.
Certificate Rates
Open Certificate| Certificate** | Minimum Opening Balance | Dividend Rate | APY* |
|---|---|---|---|
| 3 Months | $500.00 | 0.60% | 0.60% |
| 6 Months | $500.00 | 0.85% | 0.85% |
| 9 Months | $500.00 | 4.41% | 4.50% |
| 12 Months | $500.00 | 1.00% | 1.00% |
| 18 Months | $500.00 | 1.00% | 1.00% |
| 24 Months | $500.00 | 1.04% | 1.05% |
| 30 Months | $500.00 | 1.09% | 1.10% |
| 36 Months | $500.00 | 1.19% | 1.20% |
| 48 Months | $500.00 | 1.24% | 1.25% |
| 60 Months | $500.00 | 1.49% | 1.50% |
| 12 Month EZ Saver | $25.00 | 1.00% | 1.00% |
| 24 Month EZ Saver | $25.00 | 1.04% | 1.05% |
Membership at ProFed is required. *APY = Annual Percentage Yield. **To obtain the annual percentage yield disclosed you must maintain the minimum daily balance disclosed on your Certificate. Only 12 Month EZ Savers can be opened online.
It instantly felt like ProFed had my back with the things I needed and it has proved itself out over the years.
Dr. Scott Taylor | Veterinarian & Business Owner of Kendallville Animal Clinic