Commercial Banking
Security State Bank offers an assortment of deposit products,
whether you need daily access to your funds or long-term
investing. Our friendly representatives are available to assist
you in selecting from the following accounts to fit your needs:
Click here for convenient Savings Calculator
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Commercial Checking Account
Commercial Checking offers your business unlimited transactions
and the ability to avoid the monthly service charge by
maintaining a minimum balance.
- Minimum to open: $100.00
- Monthly service charge:
If your balance during the monthly statement cycle
- remains $1,000.00 or more, there is no service charge
- is $500.00 - $999.99, there is a $10.00 service charge
- is below $500.00, there is a $15.00 service charge
- Transactions: Unlimited
- Interest bearing: No
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Commercial Management Account
The Commercial Management Checking is designed for a business
with few transactions with a nominal monthly service charge.
- Minimum to open: $100.00
- Monthly service charge: $ 2.50 per monthly statement cycle
- Transactions: 10 per month
Additional transactions are charged $.75 each per monthly
statement cycle
- Interest bearing: No
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Commercial NOW Account
The Commercial NOW Account is available for Sole Proprietorships
and Nonprofit Organizations. This account pays interest on your
deposits, while allowing unlimited transactions on your account.
- Minimum to open: $1,500.00
- Monthly service charge:
If your balance during the monthly statement cycle
-
remains $1,500.00 or more, there is no charge
-
is below $1,500.00, there is a $20.00 charge
- Transactions: Unlimited
- Interest bearing: Yes, when minimum balance of $1,500.00 is
maintained
- Eligibility: Sole Proprietors and Nonprofit Organizations
Refer to your account agreement provided at account opening for
more information regarding payment of interest, interest rate,
annual percentage yield, and other applicable disclosures.
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Commercial Money Market Deposit Account
The Commercial Money Market Deposit Account, (MMDA), allows a
business to earn interest while also allowing access to your
funds.
- Minimum to open: $2,500.00
- Monthly service charge:
If your balance during the monthly statement cycle
- remains $2,500.00 or more, there is no charge
- is below $2,500.00, there is a $20.00 charge
- Transactions: Transfers from an MMDA to another account or to
third parties by preauthorized, automatic, or telephone transfer
are limited to six per statement cycle with no more than three
by check, draft, or similar order to third parties.
- Fees: A transaction fee of $25.00 will be charged each
statement cycle when the transaction limitations are exceeded.
- Interest bearing: Yes, when minimum balance of $2,500.00 is
maintained.
Refer to your account agreement provided at account opening for
more information regarding payment of interest, interest rate,
annual percentage yield, and other applicable disclosures.
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Commercial Savings Account
Commercial Savings provides a business with a regular savings
account so you can earn interest on smaller balances.
- Minimum to open: $50.00
- Transactions: Transfers from a savings account to another
account or to third parties by preauthorized, automatic, or
telephone transfer are limited to six per month.
- Fees: An activity service charge of $2.50 will be charged for
each debit transaction in excess of one during a calendar month.
- Interest bearing: Yes
Refer to your account agreement provided at account opening for
more information regarding payment of interest, interest rate,
annual percentage yield, and other applicable disclosures.
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Certificates of Deposit
If you have extra funds of at least $1,000.00 or more that you
don’t need for a period of 30 days to 4 years, put that money to
work for you in a Certificate of Deposit. The interest earned is
generally higher than most traditional transaction accounts, but
the funds must be left in the account until the end of the term
to avoid early withdrawal penalties.
Contact our CD department for more information on letting your
money work for you in a Security State Bank Certificate of
Deposit.Retirement Products
A Simplified Employee Pension Plan, (SEPP), is an
employer-sponsored retirement plan that puts contributions in an
employee’s Traditional IRA. The employee will have control of
the account, and it is subject to Traditional IRA rules. All
Security State Bank retirement plans are invested in
certificates of deposit.
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