Business Banking
Save. Build. Pay. Grow.
Deposit Needs, Covered.
We believe that all businesses should be able to bank with ease and not worry about all of the fees. HFCU’s portfolio of business deposit products place an emphasis on providing a suite of easy to use products needed for all businesses while ensuring fees are minimal, allowing your business to grow.
Business Basic Checking
Access business funds with ease, without the fees.
- No minimum balance
- Unlimited free check writing & deposits
- Free debit card
Business Next Level Checking
Unlock different levels to earn more.
- Earn dividends
- $2,500 minimum balance
- Tiered Structure
Business Advance Checking
Access business funds with ease while earning more.
- $10,000 minimum balance
- Check Writing
- Tiered Structure
Business Basic Savings
Save more for your business with a basic savings.
- No Minimum Balance
Business Advance Savings
Save even more for your business with an advanced savings.
- Earns dividends
Business Basic Savings
Heritage Financial Credit Union wants to help your business grow. Saving for the future is not only for individuals, it is a smart strategy for any business, regardless of size. Opening a savings account is the first step in developing a savings plan to help your business.
| Product | Annual Percentage Yield (APY)1 | Balance to Earn Minimum APY | Minimum to Open Account | Dividend Rate3, 4 |
|---|---|---|---|---|
| Business Basic Savings Accounts | 0.03% | $500 | $0.01 | 0.03% |
Please note that there are minimum balances to avoid a monthly service charge on either saving or checking. Please click here to view our Business Fee Schedule.
Business Advance Savings
With the Heritage Financial Credit Union Business Advance Savings account option, your business earns daily dividends. That means we pay your business for keeping its savings with HFCU! It provides you the opportunity to earn more.
| Product | Annual Percentage Yield (APY)1 | Balance to Earn Minimum APY | Minimum to Open Account | Dividend Rate3, 4 |
|---|---|---|---|---|
| Business Advance Savings | 0.10% | $2,500 | $0.01 | 0.10% |
Please note that there are minimum balances to avoid a monthly service charge on either saving or checking. Please click here to view our Business Fee Schedule.
Business Basic Checking
No matter the size, structure or what industry your business is in, establishing a checking account for your business is essential. A checking account allows for easy access to funds to cover business expenses through the use of items such as debit cards or checks. In addition to this, having a separate checking account for your business provides clear separation between business and personal expenses when managing cash flow and can assist your business come tax time as well as building up your business credit rating.
With our free checking account option, your business has unlimited free check writing and deposits, no minimum balance and no fees for the checking account itself. Additional services utilized may have fees associated (i.e. ACH, wires, etc.).
| Product | Annual Percentage Yield (APY)1 | Balance to Earn Minimum APY | Minimum to Open Account | Dividend Rate3,5 |
|---|---|---|---|---|
| Business Basic Checking Account | 0.00% | $0 | $0.00 | 0.00% |
Next Level Business Checking
Opening a Next Level Checking Account for your business allows for all of the same easy access to funds to cover business expenses through the use of items such as debit cards or checks. In addition to this, having a separate checking account for your business provides clear separation between business and personal expenses when managing cash flow and can assist your business come tax time as well as building up your business credit rating.
With our next level checking account option, your business has access to a tiered rate structure to get paid more for keeping funds with HFCU as well as some additional free services. There are some requirements that involve a $2,500 minimum balance to earn interest as well as maintaining an average balance of $2,500 to avoid fees.
| Product | Annual Percentage Yield (APY)1 | Balance to Earn Minimum APY | Minimum to Open Account | Dividend Rate3, 5 |
|---|---|---|---|---|
| Business Next Level Checking Account | 0.15% | $2,500 | $0.00 | 0.15% |
Please note that there are minimum balances to avoid a monthly service charge on either saving or checking. Please click here to view our Business Fee Schedule.
Business Advance Checking
An Business Advance Checking is a great option if you are looking for a safe place to deposit a large amount of money and earn more in dividends.
When you have larger sums of money to deal with, why not make that large sum earn even more!
| Product | Annual Percentage Yield (APY)1 | Balance to Earn Minimum APY | Minimum to Open Account | Dividend Rate3, 5 |
|---|---|---|---|---|
| Business Next Level Checking Account | 0.25% | $10,000 | $0.00 | 0.12% |
Please note that there are minimum balances to avoid a monthly service charge on either saving or checking. Please click here to view our Business Fee Schedule.
1Any Annual Percentage Yield (APY) provided in this disclosure assumes dividends will remain on deposit for at least one year for accounts with terms. Rates are subject to change at any time without notice. You may contact the Credit Union at (845) 561-5607 for current rate information. Fees, withdrawals, or other conditions could reduce earnings on any account. Rates may chance after account opening. Dividends are paid from current income and available earnings. All accounts are subject to the applicable terms and conditions set forth in the Membership Agreement & Disclosures, the Fee Schedule, and any agreement to which the Truth in Savings Disclosure and Membership Agreement references, for both personal and business members.
3All accounts must be in good standing in order to receive the stated Dividend Rate. Good standing means you have on deposit at least the par value of one full share in the regular share savings account, have no delinquent loans (payment is not more than 30 days late), and have a positive balance in all share accounts. Use of electronic services, minimum balance, and loan balances are required to earn reward APYs. If you do not qualify for a reward APY (minimum Reward, Basic), you will earn the basic reward default APY.
4Dividends are compounded quarterly and credited quarterly.
5Dividends are compounded monthly and credited monthly.