Business Savings Options
Grow your business and optimize your earning power.
Savings Accounts That Help Your Business Grow
Put aside funds to smooth out payment cycles and to plan for unexpected expenses. Taking steps now can be essential to ensure your company is able to weather the storms that come with starting, growing, and scaling your business.
Business Savings Account
Business Money Market Account
Business Certificates of Deposit (CDs)
Meet Our Business Savings Options
Business Savings Account
Establish your membership and put away money for unexpected expenses or plan for large purchases. You can set up automatic transfers from your Seattle Credit Union Business Checking or Small Business Checking account to grow your savings balance.
- Earn interest
- No monthly maintenance fee
- Only $5 required at account opening
- Allows up to 6 withdrawals per month
Note qualifying transactions exceeding six may be subject to a fee or account closure. Fees can reduce earnings.
Rates
|
Account Type |
Interest Rate/APY* |
APY* |
Interest Compounded & Credited |
Minimum Opening Deposit |
Balance to Avoid Fees |
Limitations |
|---|---|---|---|---|---|---|
|
See Account Disclosures section of Business Truth-in-Savings Disclosure. *APY – Annual Percentage Yield Note qualifying transactions exceeding six may be subject to a fee or account closure. Fees can reduce earnings. |
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|
Account Type Business Membership Savings |
Interest Rate/APY* 0.10% |
APY* 0.10% |
Interest Compounded & Credited Monthly |
Minimum Opening Deposit $5.00 |
Balance to Avoid Fees n/a
|
Limitations Transfer and withdrawal limitations apply. |
|
Account Type Business Subsidiary Savings |
Interest Rate/APY* 0.10% |
APY* 0.10% |
Interest Compounded & Credited Monthly |
Minimum Opening Deposit – |
Balance to Avoid Fees n/a
|
Limitations Transfer and withdrawal limitations apply. |
Business Money Market Savings
As your savings grows, you’ll want to start looking to getting a better rate on your money. A Business Money Market allows you to set aside larger amounts for a better return. The more you save, the higher your rate goes.
- Earn interest
- The more you save, the more interest you can earn with tiered interest rates
- No monthly maintenance fee
- No set required amount at account opening
- Allows up to 6 withdrawals per month
Note qualifying transactions exceeding six may be subject to a fee or account closure. Fees can reduce earnings.
Rates
|
Balance |
Interest Rate |
APY* |
Minimum Opening Deposit |
Interest Compounded & Credited |
|---|---|---|---|---|
|
Balance to avoid service fee is not applicable. Account limitations apply. *See Transaction Limitation section of Truth-In-Savings Disclosure. Account transfer and withdrawal limitations apply APY* – Annual Percentage Yield. |
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|
Balance $0.00 – $999.99 |
Interest Rate 0.10% |
APY* 0.10% |
Minimum Opening Deposit – |
Interest Compounded & Credited Monthly |
|
Balance $1,000.00 – $24,999.99 |
Interest Rate 0.45% |
APY* 0.45% |
Minimum Opening Deposit – |
Interest Compounded & Credited Monthly |
|
Balance $25,000.00 – $49,999.99 |
Interest Rate 0.65% |
APY* 0.65% |
Minimum Opening Deposit – |
Interest Compounded & Credited Monthly |
|
Balance $50,000.00 – $99,999.99 |
Interest Rate 0.85% |
APY* 0.85% |
Minimum Opening Deposit – |
Interest Compounded & Credited Monthly |
|
Balance $100,000.00.- $149,999.99 |
Interest Rate 1.05% |
APY* 1.06% |
Minimum Opening Deposit – |
Interest Compounded & Credited Monthly |
|
Balance $150,000.00 or greater |
Interest Rate 1.15% |
APY* 1.16% |
Minimum Opening Deposit – |
Interest Compounded & Credited Monthly |
Business Certificate of Deposit
Business CDs are the perfect place to save money that you can afford to set aside for a while. With terms as short as six months, you can earn even higher returns than you can with our Business Savings and Business Money Market accounts.
- Earn interest
- You choose the term that works for you and corresponding rate
- No monthly maintenance fee
- $1,000 minimum opening deposit for Business Certificate of Deposit
- $50,0000 minimum opening deposit for Jumbo Business Certificate of Deposit
- Certificate terms 2 years and longer often offer a “Bump Rate” option, this allows members to choose to raise their CD rate if the rates for that CD term increase prior to maturity
- There could be a fee for early withdrawal, see Truth In Savings disclosure for details. Fees can reduce earnings.
Rates
|
Term |
Interest Rate |
APY* |
Rate Type |
Minimum Opening Deposit |
Interest Compounded |
Interest Credited |
Bump Option |
|---|---|---|---|---|---|---|---|
|
APY* = Annual Percentage Yield Fees may reduce earnings. There may be a fee imposed for early withdrawal. See Transaction Limitation section of Truth-In-Savings Disclosure. Renewal is automatic, unless designated. Additional deposits are not allowed. |
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|
Term 6 month |
Interest Rate 3.20% |
APY* 3.25% |
Rate Type Fixed |
Minimum Opening Deposit $1,000.00 |
Interest Compounded Daily |
Interest Credited Monthly |
Bump Option Not Eligible |
|
Term 1 year |
Interest Rate 3.20% |
APY* 3.25% |
Rate Type Fixed |
Minimum Opening Deposit $1,000.00 |
Interest Compounded Daily |
Interest Credited Monthly |
Bump Option Not Eligible |
|
Term 2 year |
Interest Rate 3.25% |
APY* 3.30% |
Rate Type Variable -Member has discretion |
Minimum Opening Deposit $1,000.00 |
Interest Compounded Daily |
Interest Credited Monthly |
Bump Option Eligible |
|
Term 3 year |
Interest Rate 3.25% |
APY* 3.30% |
Rate Type Variable -Member has discretion |
Minimum Opening Deposit $1,000.00 |
Interest Compounded Daily |
Interest Credited Monthly |
Bump Option Eligible |
|
Term 4 year |
Interest Rate 2.40% |
APY* 2.43% |
Rate Type Variable -Member has discretion |
Minimum Opening Deposit $1,000.00 |
Interest Compounded Daily |
Interest Credited Monthly |
Bump Option Eligible |
|
Term 5 year |
Interest Rate 2.40% |
APY* 2.43% |
Rate Type Variable -Member has discretion |
Minimum Opening Deposit $1,000.00 |
Interest Compounded Daily |
Interest Credited Monthly |
Bump Option Eligible |
|
Term |
Interest Rate |
APY* |
Rate Type |
Minimum Opening Deposit |
Interest Compounded |
Interest Credited |
Bump Option |
|---|---|---|---|---|---|---|---|
|
APY* = Annual Percentage Yield Fees may reduce earnings. There may be a fee imposed for early withdrawal. See Transaction Limitation section of Truth-In-Savings Disclosure. Renewal is automatic, unless designated. No additional deposit during the term of the certificate. See Transaction Limitation section of Truth-In-Savings Disclosure. |
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|
Term 6 month |
Interest Rate 3.35% |
APY* 3.41% |
Rate Type Fixed |
Minimum Opening Deposit $50,000.00 |
Interest Compounded Daily |
Interest Credited Monthly |
Bump Option Not Eligible |
|
Term 1 year |
Interest Rate 3.40% |
APY* 3.46% |
Rate Type Fixed |
Minimum Opening Deposit $50,000.00 |
Interest Compounded Daily |
Interest Credited Monthly |
Bump Option Not Eligible |
|
Term 2 year |
Interest Rate 3.44% |
APY* 3.50% |
Rate Type Variable -Member has discretion |
Minimum Opening Deposit $50,000.00 |
Interest Compounded Daily |
Interest Credited Monthly |
Bump Option Eligible |
|
Term 3 year |
Interest Rate 3.44% |
APY* 3.50% |
Rate Type Variable -Member has discretion |
Minimum Opening Deposit $50,000.00 |
Interest Compounded Daily |
Interest Credited Monthly |
Bump Option Eligible |
|
Term 4 year |
Interest Rate 2.60% |
APY* 2.63% |
Rate Type Variable -Member has discretion |
Minimum Opening Deposit $50,000.00 |
Interest Compounded Daily |
Interest Credited Monthly |
Bump Option Eligible |
|
Term 5 year |
Interest Rate 2.60% |
APY* 2.63% |
Rate Type Variable -Member has discretion |
Minimum Opening Deposit $50,000.00 |
Interest Compounded Daily |
Interest Credited Monthly |
Bump Option Eligible |
Required Documents for Opening a Business Savings Account
Documentation varies by business ownership. Please select the appropriate tab for details.
- Washington Secretary of State Business License UPI Letter
- Social Security Number (SSN)
- Current government-issued picture ID for the owner and any authorized signer(s)
- Physical address of business
- Articles of Incorporation
- Corporate Resolution Authorizing the Account and Signers
- Washington Secretary of State Business License UPI Letter
- Washington State Certificate of Incorporation
- Employer Identification Number (EIN)
- Current government-issued picture ID for all owners and authorized signers
- Physical address of the corporation
- Partnership agreement
- Washington Secretary of State Business License UPI Letter
- Washington State Certificate of Formation
- Employer of Identification (EIN)
- Current government-issued picture ID for all owners and authorized signers
- Physical address of partnership
- Limited Liability Agreement
- Washington Secretary of State Business License UPI Letter
- Washington State Certificate of Formation
- Employer Identification Number (EIN)
- Current government-issued picture ID for all owners and authorized signers
- Physical address of the LLC
- Washington Secretary of State Business License UPI Letter
- Washington State Certificate of Formation
- Operating agreement
- Employer Identification Number (EIN)
- Board minutes authorizing account and signers
- Current government-issued picture ID for all owners and authorized signers
- Physical address of the non-profit organization
Contact Us
Thank you for choosing Seattle Credit Union to be your partner in prosperity for your business. We are excited to assist you with your business needs. Please tell us a little bit about yourself to start the account opening process and one of our team members will reach out to you.
Disclosures
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*APY: Annual Percentage Yield. Rate is subject to change without notice after the account is opened. Fees could reduce earnings.