Business Savings Accounts
Basic Savings
Your business will become a member of Lanco Federal Credit Union with a minimum deposit of just $5.00 into a share savings account. For your convenience, additional savings accounts may be opened with no minimum balance required and no monthly fees. Any savings account with a balance of $25.00 or more will earn dividends.
Money Market Savings
If you maintain a high balance in your savings or checking account, you may want to consider opening a money market savings account. This account allows you to earn a higher dividend without tying up your funds in a CD.
- Open and maintain a money market account with just $1,5001
- Add funds to your money market account as often as you would like
- Make up to four withdrawals or transfers per month.2
1Account balances below required $1,500.00 minimum will incur a monthly fee and will not earn dividends. 2The minimum withdrawal/transfer amount is $300.00. Withdrawals exceeding four per month will be assessed a fee.
Federal Regulation D places monthly limitations on the number of withdrawals allowed from your deposit accounts (savings) without your physical presence required. See “Understanding Regulation D” in the Account Disclosures for details.