Business Savings Accounts

Rate information

The dividend rate and annual percentage yield may change monthly as determined by the Board of Directors. The annual percentage yield
is a percentage rate that reflects the total amount of dividends to be paid on an account based on the dividend rate and frequency of compounding for an annual period. Accounts closed prior to crediting dividends will not receive accrued dividends. The Investor’s Money Market and Select Business Checking accounts are tiered rate accounts. The dividend rate and annual percentage yield applicable to each account depend on the balance ranges set forth on the preceding page. Once a balance range is met, the dividend rate and annual percentage yield for that range will apply to the entire balance in your account.

Nature of dividends

Dividends and minimum balance for Business Basic Savings accounts, Business Money Market accounts, and Business Investor Money Market accounts are calculated by the daily balance method, which applies a daily periodic rate to the principal in the account each day. For Business Money Market accounts, there is a daily minimum balance requirement of $1,000 to earn dividends. For Business Investor’s Money Market accounts, there is a daily minimum balance requirement of $10,000 to earn dividends. Dividends and minimum balance for Smart Business Checking accounts and Select Business Checking accounts are calculated by the average daily balance method, which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is determined by adding the full amount of principal in the account for each day of the period and dividing that figure by the number of days in the period. For Smart Business Checking accounts, there is an average daily minimum balance requirement of $1,000 to avoid a service fee. For Select Business Checking accounts, there is an average daily minimum balance requirement of $10,000 to avoid a service fee.

Transaction limitations

For Savings and Money Market accounts, up to six pre-authorized, automatic telephone transfers and online transfers may be made from these accounts to another account of yours or to a third party, in any amount, during any calendar month. If you exceed these limitations, your account may be subject to a fee or be closed.

Business owners, did you know that beginning January 1, 2024 you may be required to report certain information about your company to the United States Government?

• To access resources, stay informed about important dates, and learn about filing your business information, visit the FinCen page: Beneficial Ownership Information Reporting.