At Penn East Federal Credit Union, we offer a Checking Account for every business owner. Whether you are a small business owner, or an owner of a large business, we can help! Our Business Checking Accounts are as follows:
Easy Business Checking
This account is ideal for sole proprietors, partnerships, corporations or any businesses with low monthly check writing and deposit activity, lower account balances and basic banking services. There are no maintenance fees if you keep a minimum balance of $100 in your checking account. Plus, you’ll receive 300 free basic transactions per month.
Our Business Checking Account is for businesses dealing with high transaction volumes and substantial balances. The account features 500 free basic transactions per month and there are no maintenance fees if the account balance remains over $1,000.
Business Checking Plus
Looking for a checking account that earns interest? The Business Checking Plus account is right for you. In addition to interest earning potential the account features 500 free basic transactions. There are no maintenance fees if the account balance remains over $5,000.
Business Money Market
The money market account offers a higher interest rate than available on the interest earning checking account that offers limited check writing capability and is NCUA-insured. Money Market Accounts have check writing abilities and the first box of checks are free. Money Market Accounts are limited to six pre-authorized withdrawals/transfers per month. Deposits can be made at any time and are unlimited. Balances will earn a dividend yield based upon a disclosed three tier system. Dividends are calculated on the Average Daily Balance of the account and paid monthly. If the account balance falls below the minimum amount for that tier in a given period, the dividend rate will be calculated using the lower dividend rate. If the minimum balance drops below $1,000 a $10 monthly charge will be assessed.