Business checking options for every venture
Compare accounts and services to find the business checking solution that works best for you.
We love to help your business succeed.
All of RCU’s Business checking accounts offer these features and more.
Business Digital Banking
Use RCU’s streamlined online banking tools to manage your business finances 24/7.
Mobile Deposit
Utilize the RCU mobile app to make deposits from your phone to your checking account.
Business Online Deposit1
Deposit checks from your office when it’s convenient for you.
Business Wires2
Initiate secure transactions anytime and improve cash flow at competitive rates.
Explore your options
Whether you're a budding startup or an established enterprise, our new business checking options are designed to make banking easier. From low-cost small business checking accounts to dividend business checking for larger operations, we’ve got the account features you’ll need to grow and thrive.
Compare accounts
| Business Essential Checking | Business Choice Checking | |
|---|---|---|
|
Minimum balance |
$100 |
$100 |
|
Dividends paid3 |
0% APY |
Up to 0.20% APY (on balances of $50,000+) |
|
Monthly fee |
||
|
501(c)(3) monthly fee |
$0 |
$0 |
|
Number of items deposited & paid |
Up to 300 per month |
Combined 300 items with 0.20/item over limit |
|
Coin and currency processing fee |
$5 per $1,000 deposited or withdrawn |
$5 per $2,500 deposited or withdrawn |
|
Business Online Deposit |
True |
True |
|
Mobile deposit |
True |
True |
|
Self-service wires2 |
True |
True |
|
Self-service ACH2 |
|
True |
Why choose RCU as your business financial partner
Local expertise
As a local credit union, we understand your market and its unique opportunities.
Focused on service
We’re here to listen and work alongside you to find solutions that support your business.
Invested in your success
Local businesses are the heart of our community, and we love to help you succeed.
More for your business
Explore RCU’s business savings accounts, money markets, and certificates.
Manage your cashflow while earning rewards and more.
Grow your business with a small business loan that works for you.
Have a question?
At RCU, we're known for our reliable service, and we'll answer your questions and calls quickly.
-
1Business must purchase scanner and have specific system requirements to utilize Business Online Deposit. Certain restrictions may apply. Learn more about Business Online Deposit here.
2Certain restrictions may apply. Service is not guaranteed. Business must apply for and be granted access to business wires and ACH services. Additional fees may apply.
3Rates are effective September 21, 2023 and are subject to change without notice. APY = Annual Percentage Yield. Fees may reduce earnings.
Business Choice Checking Rates
How to waive the Business Essential monthly maintenance fee
To waive this fee, keep an average daily balance of $1,000 or a combined average daily business deposit balance of $5,000. (Business deposit accounts include business savings, business money market, and business certificate accounts.)
How to waive the Business Choice monthly maintenance fee
To waive this fee, keep an average daily balance of $5,000 or a combined average daily business deposit balance of $10,000. (Business deposit accounts include business savings, business money market, and business certificate accounts.)
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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