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Business Savings Rates

Business Savings Rates  |  Important Information for Business Accounts  |  Business Fees

 Certificates
APY* (%)
Dividend Rate (%)
Minimum Balance^
6-month paid monthly
0.15
0.15
$2,000
1-year paid monthly
0.20
0.20
$500
13-month special paid monthly
0.30
0.30
$500
18-month paid monthly
0.25
0.25
$500
2-year paid monthly
0.35
0.35
$500
25-month special paid monthly
0.45
0.45
$500
30-month paid monthly
0.40
0.40
$500
3-year paid monthly
0.50
0.50
$500
4-year paid monthly
0.50
0.50
$500
5-year paid monthly
0.50
0.50
$500
6-year paid monthly
0.50
0.50
$500
*APY = Annual Percentage Yield. APY is based on the assumption that dividends will remain on deposit until maturity. Premature withdrawals will reduce earnings. Fees can reduce earnings on the account. APY is accurate as of the effective date listed above.

^Minimum balance is required to open and maintain the account and earn the APY.

Must have at least one ownership share on deposit in a Membership Savings account to open additional products.


 Money Market Savings
APY* (%)
Dividend Rate (%)
$0.01 - $999.99
0.10
0.10
$1,000 - $9,999.99
0.10
0.10
$10,000 - $24,999.99
0.15
0.15
$25,000 - $49,999.99
0.20
0.20
$50,000 - $74,999.99
0.25
0.25
$75,000 and over
0.25
0.25
*APY = Annual Percentage Yield. APY is accurate as of last dividend declaration date.
No minimum balance required to open a Money Market Savings account.
$1,000 minimum balance required to avoid paying a $10 monthly service charge.
$0.01 minimum balance is required to earn the APY.
Fees can reduce earnings on accounts.

 BusinessPLUS & BusinessANALYSIS Checking
APY* (%)
Dividend Rate (%)
$0.01 - $999.99
0.00
0.00
$1,000 - $9,999.99
0.15
0.15
$10,000 - $24,999.99
0.15
0.15
$25,000 and over
0.15
0.15
*APY = Annual Percentage Yield. APY is accurate as of last dividend declaration date.
No minimum balance required to open a BusinessPLUS and BusinessANALYSIS Checking.
$1,000 minimum balance required to earn dividends on BusinessPLUS and BusinessANALYSIS Checking.
Fees can reduce earnings on accounts.

 Other Savings
APY* (%)
Dividend Rate (%)
Membership, Savings
0.10
0.10
*APY = Annual Percentage Yield. APY is accurate as of last dividend declaration date.
$5 minimum balance required to open and maintain a savings account.
$0.01 minimum balance required to earn the APY.
Fees can reduce earnings on accounts.
Early withdrawal penalties may apply.

 

Important Information for Business Accounts

Terms and conditions subject to change without notice.

Dividend Rate Changes
Rates can vary after the account is opened for any savings or checking account.

Certificates—rates in effect at purchase are consistent through maturity

Early withdrawal penalties on certificates:
Terms of 1 year or less, the penalty is 90 days' dividends or all dividends earned, whichever is less.
Terms greater than 1 year, the penalty is 180 days' dividends or all dividends earned, whichever is less.

Dividends begin to accrue on the business day you deposit cash, checks and other noncash items.

Dividends are based on the IU Credit Union's earnings and cannot be guaranteed. They are calculated by the daily balance method, which applies a daily periodic rate to the principal in the account each day.

Compounding Method:
Savings—compounded monthly, paid monthly.
Certificates—compounded daily, paid monthly.

Transaction Limitations:
For money market savings accounts, you may not make more than six (6) withdrawals or transfers to another credit union account of yours or to a third party by means of a pre-authorized or automatic transfer, telephone order or instruction or similar order to a third party. If a transfer request would exceed the transfer limitation in any statement period, the Credit Union may refuse or reverse the transfer, and your account will be subject to suspension, charges or closure by the Credit Union

A preauthorized transfer includes any arrangement with the Credit Union to pay a third party from an account upon oral or written order, including orders received through ACH.

The Credit Union reserves the right to require you to give notice in writing of any intended withdrawals from any account of not less than 7 days and up to 60 days in accordance with applicable law before such withdrawal.


 

Business Services Fees

 Savings Service Charges
 Fee
Early account closure fee†
$25
Money Market Savings account
 
   Minimum balance of $1,000 or more
No charge
   Minimum balance under $1,000
$10/month
†Applies when Membership Savings is closed within 90 days of opening.

 Business Checking Service Fees  
BusinessFREE Checking
No charge
   Up to 50 checks paid per month
No charge
   Greater than 50 checks paid, per item
$0.15
BusinessPLUS Checking  
   Minimum balance $2,500 or more
No charge
   Minimum balance under $2,500
$10/month
   Up to 100 checks paid per month
No charge
   Greater than 100 checks paid, per item
$0.15
BusinessANALYSIS Checking
Monthly fee to be based on number of items processed through account
Account activity will be monitored. If deemed necessary, based on the number of items processed, IU Credit Union has the option to convert the account. If your checking account is already a BusinessANALYSIS, your fee may be adjusted accordingly.

 Other Checking Fees  
Checking overdraft protection options:
 
   From savings, per transfer*
$3
Temporary checks or deposit slips (5 pages maximum)
$.50/page
Return item fee (checks written on your IUCU account)
$30
Check order (printed checks)
Varies
Check copy, limit 5 checks per month
No charge
Check copy, each check over 5 checks per month
$1
Overdraft Privilege (ODP) Fee per item (checks, ACH, ATM and debit card transactions)^
$30
*Overdraft protection fee is deducted from the checking account. Membership and Savings (excluding Money Market Savings) under the same account number as the checking account, may be used as overdraft protection.

^This service is not available for new business checking accounts.


 Business Debit Card Charges  
Debit card fee (must have checking account)
No charge
ATM transaction service charge (our machines)
No charge
ATM balance inquiry service charge on machines other than IUCU or Alliance One ATM network, per inquiry
$.50/inquiry
ATM transactions service charge on machines other than IUCU or Alliance One ATM network
$2/transaction
Debit card replacement, each
$5
Debit card rush order, each
$60
Debit card Point of Sale (POS) transactions
No charge
Debit card cross border transaction fee
   US $ Transaction
0.9% of transaction amount
   Foreign Currency transaction
1.1% of transaction amount
Any national, regional, or local network used to complete the transaction may impose a fee. You may be charged a fee for a balance inquiry even if you do not complete a funds transfer.

 Safe Deposit Box* (Available at Winslow Branch Only)  
3" x 5", annual fee
$15
3" x 10", annual fee
$25
5" x 10", annual fee
$40
7" x 10", annual fee
$65
10" x 10", annual fee
$85
*Based on availability.

 Cashier Checks, Money Orders and American Express Cheques  
Cashier checks, made payable to member:
 
   Limit one per day
No charge
   More than one per day
$4
Cashier checks, made payable to another party
$4
Money orders
$2
American Express Travelers Cheques
1% of purchase amount

 Wire Transfers  
Wire transfer out, foreign
$40 plus intermediary bank fee, if applicable
Wire transfer out, domestic
$20
Wire transfer in
$10

 Foreign Checks  
Foreign Check/ Bank Processing Fee
Minimum $43* per item
*Additional fees may apply. Will not accept check valued less than $200 U.S. for collection.

 Notary Services and Signature Guarantees  
Notary service
No charge
Signature guarantees
No charge

 Research  
Balancing assistance, last issued statement
No charge
Balancing assistance/account research
$15/hr
Statement copy, per statement
$3

 Returned Item  
ACH (electronic withdrawal) return fee (NSF Fee)
$30
Transit check return item fee
(deposited/cahsed from another institution and returned):
$5

 Online Banking / Online Bill Pay  
Online Banking (Account information and access)
No charge
Online Bill Pay (Automated bill payment)
$10/month
   Stop payment fee on bill
$30

 Mastercard® Gift Card activation fee
$3

 Miscellaneous Fees  
Account transaction history fee
$2
Inactive account fee*
$5/month
Telephone transfer fee^
$3/call
Stop payment fee
$30
Bad address fee
$3/month
Deposit bag, zippered
$5
Night Depository
   Locked bag, up to 2 bags
No charge
   Locked bag, more than 2 bags
$25 each
   Locked bag, replacement
$25
   Night depository access key, up to 2 keys
No charge
   Night depository access key, more than 2 keys
$2 each
   Night depository access key, replacement
$2
*Applies to inactive accounts (primary owner is 18 or older) for 6 months with a cumulative balance less than $500 and no active loans or certificate products.
^Excludes Bank-by-Phone transfers.

Because of the complexity and rapidly changing nature of the economy and financial services industry, the IU Credit Union reserves the right to modify any of its services and charges without prior notice.

Please note: Not all Credit Union products and services are available to business members.

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Related topics:

  • Business Loans
  • Business Credit Cards
  • Business Checking
  • Business Savings
  • Business Insurance

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