Business Checking Accounts

At the Institution for Savings, we keep banking simple by offering three uncomplicated solutions for your business checking needs. All deposits are insured in full by the FDIC and DIF. And unlike most banks, we don't charge you for deposits or for each item deposited.

  Simple Business NOW Checking Simple Business Checking Sweep Account
Description For municipalities, sole proprietorships and certain tax exempt organizations that are allowed to earn interest No transaction fees for check or deposit processing. For businesses that want to earn additional interest income and manage their cash needs and available for all business checking accounts. Funds in business checking account in excess of $50,000 will automatically be transferred to a repurchase account daily which pays a higher rate
of interest
Minimum balance to open $10 $10 $10
Earns interest  
Monthly service charge $5 if balance falls below $500 $10 if balance falls below $5,000  
24-Hour Automated Telephone Banking
No-fee Internet Banking and
Bill Pay
No-fee Mobile Banking
No-fee ATM Card and/or Visa© Debit Card and Point-of-Sale Transactions  
Surcharge free withdrawals at SUM ATMs (other banks may charge a fee outside of SUM Network)  
Choice of monthly statements by mail or electronically Statement combined with parent checking account
Overdraft Protection Line of Credit (customer must apply for this product and meet Bank's approval criteria)  
Overdraft Protection Sweep from Savings or Money Market Account  
Direct Deposit available  
Additional information     Funds held by the bank in repurchase accounts are not a deposit and are not FDIC insured.

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