Deposits

We are here to help you determine the type of checking, investment plan or credit solution you need. We offer a complete range of accounts and services that are designed to meet your business needs.

Here are some ways we can help you:

  • Increase your cash flow.
  • Enable you to take advantage of valuable discount opportunities.
  • Acquire new business assets.
  • Market expansion.
  • Refinance your business property.
  • Letters of Credit.

Business Checking Accounts

Venture First Checking:

For the small business customer whose total items processed each month (checks, deposits, deposited items) do not exceed 500.

  • $100 minimum balance required to open account.
  • $10 monthly maintenance fee waived with a $750 minimum ledger balance or an average collected balance of $2,500.
  • 500 items processed per statement at no extra charge. There will be an additional charge of $.20 for each item in excess of 500. (The Commercial Analysis Account may be more economical for accounts that consistently exceed the limit of items processed.)

First Advantage Checking:

This account is designed for selected businesses such as sole proprietorships and public entities who are eligible for interest checking and maintain a minimum balance of $1,500 and whose total activity (checks, deposits, deposited items) does not exceed 500.

  • Earns competitive rate of interest.
  • $100 minimum balance required to open account.
  • $10 monthly maintenance fee waived with a $1,500 minimum ledger balance or an average collected balance of $5,000.
  • 500 items processed per statement at no extra charge. There will be an additional charge of $.20 for each item in excess of 500. (The Commercial Analysis Account may be more economical for accounts that consistently exceed the limit of items processed.)

Commercial Accounts:

(Full Analysis Commercial Checking Plan for Partnerships and Corporations)

Activity Charges:  
Monthly Maintenance $12.00
Checks and Debits       .18
Electronic Debit       .10
Electronic Credit       .25
Deposits or Credits       .40
Item Charge:  
      On Us       .08
      Transit       .10
Deposited Items Charge Back     5.00
Deposited Currency Per $100.00       .08
Change Orders:  
      Currency Per Strap       .30
      Coin Per Roll       .10

We allow an earnings credit on collected balances to offset the monthly service charge.

 

 

 

Repurchase Agreements:

 

Sweep/Investment Account:*

This account was designed specifically for investment of excess funds on a daily basis to enable you to earn a competitive rate of interest via overnight purchase of government securities. With this arrangement, there is an agreement to repurchase the securities on the following business day. This account allows liquidity of funds as needed while it provides for maximum investment opportunities. A collected compensating balance is determined for the General Operating Account to cover all activity fees. Confirmation of the transactions and interest earned under this arrangement are provided daily with a Summary Statement at month end.

*This account is not FDIC insured.

 

Zero Balance Account:

This service was designed for companies that maintain a general operating account as well as separate accounts for payroll, petty cash, etc. With this service, all of your funds are concentrated into one general operating account and as items are presented for payment from subsidiary accounts, funds are automatically transferred from the operating account to cover them. The account balance of the subsidiary accounts, therefore will always maintain a zero balance. This service allows you to maximize your investment opportunity and minimizes the administrative time required to monitor multiple accounts and make the transfers needed. A collected compensating balance is determined for the combination of activity in all accounts and excess funds earn interest at a competitive market rate. For municipalities, these funds are collateralized by the State Treasurer's Pooling Method.
 

 

 

 

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