BUSINESS LEADING RATE ACCOUNT
Our Business LRA, which is available to our Business Club members, offers flexibility and a competitive variable rate of return.
- A variable rate money market account earning the Fed Funds Rate minus 50 basis points, not to exceed an interest rate of 10%
- Tier 1: $0.01 - $50,000, earning the Fed Funds Rate minus 50 basis points
- Tier 2: $50,000.01 and higher, will be set with a blended Annual Percentage Yield (APY)
- Minimum deposit of $0.01 to open
- A minimum balance of $0.01 must remain in the account each day to obtain the APY
- Minimum daily balance requirement of $25,000 to avoid a $25 monthly maintenance fee
- One LRA account per Tax Identification Number
- Interest is compounded daily and credited monthly
Limit of six (6) preauthorized transfers from the account during each month. A $15 per item excessive transaction fee will be assessed beginning with the seventh (7th) preauthorized transfer.