Business Checking
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Whether you are just starting out or taking your business to the next level, we have accounts to help you achieve your financial goals.
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Small Business Checking
Perfect for businesses expecting fewer than 250 transactions per month.
- $100 minimum balance
- If balance falls below $100, a $10 monthly service charge will apply
- Check images available
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250 free combined transactions
Transactions include: all deposits, ACH, debits, checks, debit card transactions, electronic items, & all deposited items. Additional items are $0.25 each.
Sales tax may apply to fees.
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Commercial Checking
Great choice for businesses expecting $250+ transactions per month.
- No minimum balance
- Check images available
- Maintenance fee & service charges:
Monthly maintenance fee: $6.00
Each deposit.................. $0.15
Each deposited item...... $0.05
Each debit.......................$0.15
Sales tax may apply to fees.
- A variable rate earnings credit is applied to off-set some or all fees on your account. It is calculated based on the account's average balance during the statement cycle. If the earnings credit exceeds the monthly fees, the fees are waived for the month. Get additional details below.*
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Commercial Checking with Interest
Excellent choice for businesses with large balances expecting $250+ transactions per month.
- Interest paid on balance** (see current rates)
- No minimum balance
- Check images available
- Maintenance fee & service charges:
Monthly maintenance fee: $6.00
Each deposit.................. $0.15
Each deposited item...... $0.05
Each debit.......................$0.15
Sales tax may apply to fees.
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Non-profit Checking
Perfect for organizations registered as a 501(c)3
- No minimum balance
- No monthly fees
- No per item fees
- Check images available
- Option available to earn interest (see current rates)
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*Earnings Credit: The earnings credit on the Commercial Checking account is based on the average 91-day Treasury Bill rate for the current month. It is calculated based on the average "collected" balance, less a 10.00% reserve requirement. ["Uncollected" balances will be charged the 91-day Treasury Bill rate, plus 3.00%. This situation applies only when the average account balance is very low.]
Earnings Credit Calculation Example: For the purposes of this example, the assumption is that the T-Bill Rate is 0.80%, the average balance maintained on the Commercial Checking account for the month was $200,000, and there were 31 days in the monthly cycle.
Multiply the $200,000 (average account balance) x 90% (to exclude the 10.00% reserve). Take that amount and multiple it by .008 (T-Bill rate). That provides you with an annual amount of earnings of $1,440.00. To determine the monthly earned credit, divide the annual amount by 365 days in a year and multiple it times the number of days in that particular month (31 days). Your monthly earned credit would be $122.30. [$200,000 x 90% x .008/365 x 31 = $122.30]
**Monthly statement for commercial checking with interest will show a service charge in addition to a credit for interest earned on the daily collected balance.
Disclosures Regarding Electronic "Wholesale Credit" Transactions Subject to Uniform Commercial Code Article 4A
Provisional Payment:
Credit given by us to you with respect to an automated clearing house credit entry is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive such final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to you in connection with such entry, and the party making payment to you via such entry (i.e. the originator of the entry) shall not be deemed to have paid you in the amount of such entry.
Notice of Receipt of Entry:
Under the operating rules of the National Automated Clearing House Association, which are applicable to ACH transactions involving your account, we are not required to give next day notice to you of receipt of an ACH item and we will not do so. However, we will continue to notify you of the receipt of payments in the periodic statement we provide to you.
Choice of Law:
We may accept on your behalf payments to your account which have been transmitted through one or more Automated Clearing Houses ("ACH") and which are not subject to the Electronic Fund Transfer Act and your rights and obligations with respect to such payments shall be construed in accordance with and governed by the laws of the state of Iowa, unless it has otherwise specified in a separate agreement that the law of some other state shall govern.