Business Savings Accounts

Find the Educators savings account to help you meet your business goals.

Visit an Educators location

Features

Member-Owner Status

With just $5 in your Prime Share Savings account, you become a member-owner of Educators.

Low or no Minimum Balance

Most savings accounts have a minimum balance of $5 or less.

Competitive Rates

No matter what you’re saving for, with our different savings accounts options, you receive returns.

Anytime Access

Log into your account online or with your smartphone to check your balance, make deposits with FlashCash, and more.

Direct Deposits

Start receiving interest on your earnings as soon as possible by using direct deposit.

eStatements and E-Alerts

Get your statement quarterly via email and receive e-alerts on the account activities of your choosing.

Compare Savings Account Types

	Prime share Savings Account	High Yield Money Market Accounts	Share Certificates
Minimum opening balance	$5	$1,000	$500
Activation or monthly fees	$0	$0¹	$0
Direct Deposits	YES	NO	NO
Anytime Access	YES	YES	YES
ATM Card	YES	NO	NO
Number of withdrawals	No Limit	No Limit	No Limit
Terms	N/A	N/A	Terms from 91 days to 5 years
Interest rate increases	Interest is earned when the balance is $100 or more	Interest rate increases automatically as your savings balance grows to levels of $2,500, $10,000, $25,000 and $50,000	Competitive dividend rate fixed throughout the term (Jump-up options offer one rate adjustment during term of the certificate. Add-on options offer the opportunity to add additional funds of $500 or more to the certificate.)

More Detailed Information

Rates

Types of Savings Accounts and Add-Ons

PRIME SHARE SAVINGS ACCOUNT

A Prime Share Savings account is the base account needed to become a member of Educators. Just deposit $5, which represents one share (and your ownership) in the credit union. You’ll now be able to use all of Educators services! Interest is earned on the Prime Share Savings account when your balance is $100 or more.

Visit an Educators location to open your Business Savings.

OTHER SPECIAL SAVINGS ACCOUNTS

Special Savings accounts can be set up for any purpose. No minimum balance is required and interest is earned when the balance in the account is $100 or more. You can open a Special Savings account and rename these accounts as Holiday, Summer Pay or Vacation Club account. Ask any Member Finance Representative for more information on these options.

SHARE CERTIFICATE JUMP-UP AND ADD-ON OPTIONS

Some of the Educators Share Certificates have Jump-up or Add-on options. The Jump-up option allows you to request a rate increase when our rates increase once during the term of your Share Certificate. You will receive the higher rate for the remaining term of the certificate.

The Add-on option allows you to add to the value of your Share Certificate by depositing a minimum of $500 to your Share Certificate at any time. The new money you add starts earning dividends the same day you make the deposit.

Check out the Share Certificate rates to see which certificates offer the Jump-up and Add-on options.

Account Opening

To open any business account you must have:

Sole Proprietor – Proof of EIN (if applicable)
Partnership – Proof of EIN and Partnership Agreement*
Corporation – Proof of EIN and Articles of Incorporation*
LLC – Proof of EIN and Articles of Organization*
Tax Exempt Club/Donation – Proof of EIN and Proof of Nonprofit/Tax Exempt Status

*All signers including any owner with 25% or more interest will need to provide personally identifiable information (PII) to establish the account. PII includes Name, Address, Date of Birth, Social Security Number and Valid ID with current address.

Business Savings Rates

Savings

TYPE	DIVIDEND RATE	APY¹	MINIMUM BALANCE REQUIRED TO EARN APY	MINIMUM TO OPEN
Prime Share Savings	0.06%	0.06%	$100.00	$5.00

High Yield Money Market Account

DIVIDEND RATE	APY¹	MINIMUM BALANCE REQUIRED TO EARN APY²
0.06%	0.06%	<$2,500
0.08%	0.08%	$2,500
0.11%	0.11%	$10,000
0.14%	0.14%	$25,000
0.19%	0.19%	$50,000

¹APY = Annual Percentage Yield. Rates will not change until the next tier is reached (ex. balance of $2,500 to $9,999 will have a rate of 0.08% APY). Rates are subject to change after account opening.
²For IRA Money Market the minimum to open account is $25. Minimum to open regular Money Market account is $1000, $10 fee per month for daily balances below $1000. Penalties apply for “under the minimum daily balance”, which may reduce earnings.

Premium Money Market Accounts (regular and IRA accounts)

DIVIDEND RATE	APY¹	MINIMUM BALANCE REQUIRED TO EARN APY²
0.559%	0.56%	$10,000
1.124%	1.13%	$100,000
1.677%	1.69%	$250,000

¹APY = Annual Percentage Yield. Rates will not change until the next tier is reached (ex. balance of $10,000 to $99,999.99 will have a rate of 0.559% APY). Rates are subject to change after the account is opened.
²For Premium Money Market the minimum to open account is $10,000.
Points for Perks cannot be used to increase the rates on the Premium Money Market accounts.

Share Certificates

TYPE	DIVIDEND RATE	APY¹	MINIMUM BALANCE REQUIRED TO EARN APY
91 Day	0.31%	0.31%	$500
182 Day	0.360%	0.36%	$500
275 Day (Add-on)	0.409%	0.41%	$500
1 Year	0.509%	0.51%	$500
18 Month	0.609%	0.61%	$500
30 Month (Jump-up, Add-on)	0.808%	0.81%	$500
3 Year	1.105%	1.11%	$500
4 Year	1.502%	1.51%	$500
5 Year	1.995%	2.01%	$500

Rates are for new shares only and require $500 minimum. A penalty applies for early withdrawal and other restrictions may apply.

¹APY = Annual Percentage Yield. Rates are subject to change. Penalties apply for early withdrawals, which may reduce earnings.

**The Share Certificate Special’s rate cannot be increased using Points for Perks. No other offers apply to increase the rate on this special.

Change of Terms Notice:

Effective 12/1/11, the early withdrawal penalty for new or renewed share certificates will be 90 days interest for terms of one year or less and 180 days for all terms over one year.

Effective 8/1/14 for new Share Certificates, early withdrawal penalty will be the lesser of dividends earned to date OR the amount of dividends that would be earned during 25% of the share certificate’s term, measured in days.

Questions?

If you have questions about the Business Savings, contact Business Services Coordinator, Michelle U., (262) 321-4476 or stop in at any Educators location for more information.

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