Business Checking

 

Dividend Rates and Annual Percentage Yields (APYs) are accurate as of Aug 05, 2021.

* The business owner or an official signor of the business must first be a member of Sharonview Federal Credit Union to open a business membership.

Cash Transaction Fees apply to all Sharonview Business Savings, Checking and Money Market Accounts as follows: Up to $5,000 per month of cash transactions (deposits and withdrawals) per month, aggregated across all Sharonview Business deposit accounts, are allowed free per month. Thereafter $2.00 per $1,000 in cash transactions (deposits and withdrawals) per month, aggregated across all Sharonview Business deposit accounts.

1. Fees may be incurred when using the card at non-Sharonview ATMs or when transactions result in overdraft activity; $8.00 per NSF item.
*Average Monthly Collected Balance: The average monthly collected balance is calculated by adding the collected balance for each day of the statement period and dividing that figure by the number of days in the statement period.1The monthly maintenance fee can also be waived with a minimum daily collected balance of $1,500 or more in a Business Savings Account, a Business Money Market Account, or a Standard l Business Checking Account.

2. Business Checking Accounts:

Standard Business Checking accounts require $50.00 minimum to open with no minimum balance per month and no monthly service fee. No transaction fees are charged for the first 200 debit items and the first 200 credit items per month; thereafter $0.25 per item.

Premium Business Checking accounts require $100.00 minimum to open. A minimum monthly balance of $1,500 combined in all Sharonview Business Deposit accounts must be maintained to avoid a $20 monthly service fee. No transaction fees are charged for the first 375 debit items and the first 375 credit items per month; thereafter $0.25 per item.

Combined items include: Deposits, deposited items, checks paid/debits, online bill payments and electronic debits and credits.. Cash is considered as one (1) transaction; however total cash deposited is subject to the 30-day total deposit limits for total cash deposited into the account. ** All coin deposits must be rolled with a limit of $100.00 per month.

Items include checks deposited or paid, online bill payments, and electronic debits and credits. Cash is considered as one transaction; however total cash deposited is subject to the Cash Transaction Fees stated below.

 
4. Bill Pay allows for member to send payments without a limit on the number of payments sent. Sharonview does not currently charge a fee for use of this service. Internet service provider fees may apply.

Rates are subject to change at any time without notice. APY = Annual Percentage Yield. Dividends are calculated by the average daily balance method which applies a periodic rate to the average daily balance in your account for the Period. The average daily balance is calculated by adding the balance in your account for each day of the Period and dividing that figure by the number of days in the Period. For all accounts, the dividend period begins on the first calendar day of the month and ends on the last calendar day of the month; dividends are compounded daily and credited monthly. For Certificates, the APY assumes dividends remain in the account until maturity; a withdrawal will reduce earnings. Certificates will automatically renew at maturity after a grace period of 5 calendar days. Share/Savings, Checking and Money Market Accounts rates may change at any time after the account is opened, based on the determination of the Credit Union’s Board of Directors. Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period. The Dividend Rate and APY set forth in this schedule are prospective rates and yields the Credit Union anticipates paying for the applicable dividend period. Dividends will not be paid if an account is closed before accrued dividends are credited. Fees may reduce earnings. Certificate terms of one year or less will forfeit 90 days dividends; terms greater than one year up to five years forfeit 180 days dividends; terms greater than five years forfeit 365 days dividends. The penalty will, if necessary, be taken from the principal amount of the deposit. The par value of a regular share in this credit union is $5. Refer to your Membership Agreement and Disclosures for complete terms and conditions. Insured by NCUA.