| BUSINESS
ACCOUNT OPTIONS |
| Who
Should Consider? |
| Business Savings |
Business Money Market |
Repurchase Agreement* |
Spectrum Money Market
Account* |
Trust Investments |
| Any business with excess
funds that need to remain available. |
All of the features of
Business Savings plus the added feature of being able to write
checks on your account (limited to 3 checks per month) |
Generally for businesses
with collected balances that exceed the FDIC insurance limits.
Though not insured, this account is a purchase in a pool of
government securities and pays current market rates |
Offered through Spectrum
Investment, this uninsured account is backed by government securities
and also offers a tax-exempt option. |
Our trust department can
execute purchases of government securities under a safekeeping
arrangement. Minimum investment of $100,000. |
| Features
and Benefits* |
| Business Savings |
Business Money Market |
Repurchase Agreement* |
Spectrum Money Market
Account* |
Trust Investments* |
| Minimum $50 to open the
account |
Minimum $1000 to open
the account |
Minimum $10,000 to open
the account |
Minimum $1,000 to open
the account |
Minimum $100,000 to open
the account |
No monthly fees if a $50
minimum balance is maintained.
$1.00 per month service charge if balance falls below $50. |
No monthly fees if a
$1,000 minimum balance is maintained.
$5.00 per month service charge if balance falls below $1,000 |
No monthly fees. This account is not FDIC insured. The account is a purchase
of a pool of governmental securities. |
Earns interest on the
daily collected balance. This account is
not FDIC insured. It is backed by government securities. |
This is a securities purchase
with the actual security held in safekeeping. There is market
risk if the security is not held to maturity and this
investment is not FDIC insured. |
| 3 free withdrawals per
month. $1.00 per withdrawal over 3. |
6 free withdrawals per
month, 3 may be a check; $1.00 per withdrawal over 3. |
Funds are available for
withdrawal with no restriction. |
Funds are available for
withdrawal with no restriction. |
Funds can be accessed
at market value. There are fees for redeeming the security. |
| Interest compounds quarterly. |
Interest compounds monthly. |
Interest is credited daily.
Statements are generated daily on the account. |
Interest compounds daily
and statements are mailed monthly. |
Interest is generally
paid at maturity depending on the term of the investment. |
