Business Savings

Every new business account includes:

  • FREE Online Banking with myBanking™
  • FREE Bill Pay
  • FREE Mobile Banking and FREE Mobile Check Deposit with myMobile™
  • FREE eStatements with online check image

Here to Help

Not sure which savings account is right for you? Get started here. 

0% Complete

Question #1

Will you always keep more than $2,500 in your business savings account?

Money Market Account

A tiered interest rate account getting your business the most for its money.Enjoy the benefits of a high interest business savings account and low activity business checking account all in one.

  • This account combines a competitive, tiered interest rate with the convenience of check writing privileges* on maintained balances as low as $2,500
  • Interest tiers are offered at $2,500, $25,000, $50,000 and $75,000
  • A monthly service charge will be waived if you maintain a minimum balance of at least $2,500
Email our Member Service Center

Savings Account

An easy and convenient way for you to put your business’s money away.

We can help grow your savings while you’re busy growing your business.

  • The Business Savings Account requires $5 to open
  • You earn interest and pay no monthly service charge
  • Within the guidelines of savings regulations, you may make up to six withdrawals per statement period*
Email our Member Service Center

Account Options

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Business Savings Account

An easy and convenient way for you to put your business’s money away.

We can help grow your savings while you’re busy growing your business.

  • The Business Savings Account requires $5 to open
  • You earn interest and pay no monthly service charge
  • Within the guidelines of savings regulations, you may make up to six withdrawals per statement period*

How to Open

Please call our Member Service Center at 800.498.8930 for more information or visit one of our six locations to open your account today.

Business Money Market

A tiered interest rate account getting your business the most for its money. Enjoy the benefits of a high interest business savings account and low activity business checking account all in one.

  • This account combines a competitive, tiered interest rate with the convenience of check writing privileges* on maintained balances as low as $2,500
  • Interest tiers are offered at $2,500, $25,000, $50,000 and $75,000
  • A monthly service charge will be waived if you maintain a minimum balance of at least $2,500

How to Open

Please call our Member Service Center at 800.498.8930 for more information or visit one of our six locations to open your account today.

Certificates of Deposit

Build your business’s funds with great flexibility and guaranteed interest.

  • Our Business Certificates of Deposit allow greater flexibility and guaranteed interest over the term of the deposit*
  • We offer a variety of terms for business members ranging from 3 months to 5 years
  • Most Certificate of Deposit accounts can be opened with as little as $500

Penalties for early withdrawal apply. See a branch representative for details.

How to Open

Please call our Member Service Center at 800.498.8930 for more information or visit one of our six locations to open your account today.

Still Undecided? Start Here.

0% Complete

Question #1

Will you always keep more than $2,500 in your business savings account?

Money Market Account

A tiered interest rate account getting your business the most for its money.Enjoy the benefits of a high interest business savings account and low activity business checking account all in one.

  • This account combines a competitive, tiered interest rate with the convenience of check writing privileges* on maintained balances as low as $2,500
  • Interest tiers are offered at $2,500, $25,000, $50,000 and $75,000
  • A monthly service charge will be waived if you maintain a minimum balance of at least $2,500
Email our Member Service Center

Savings Account

An easy and convenient way for you to put your business’s money away.

We can help grow your savings while you’re busy growing your business.

  • The Business Savings Account requires $5 to open
  • You earn interest and pay no monthly service charge
  • Within the guidelines of savings regulations, you may make up to six withdrawals per statement period*
Email our Member Service Center

Question #1

Will you always keep more than $2,500 in your business savings account?

Money Market Account

A tiered interest rate account getting your business the most for its money.Enjoy the benefits of a high interest business savings account and low activity business checking account all in one.

  • This account combines a competitive, tiered interest rate with the convenience of check writing privileges* on maintained balances as low as $2,500
  • Interest tiers are offered at $2,500, $25,000, $50,000 and $75,000
  • A monthly service charge will be waived if you maintain a minimum balance of at least $2,500
Email our Member Service Center

Savings Account

An easy and convenient way for you to put your business’s money away.

We can help grow your savings while you’re busy growing your business.

  • The Business Savings Account requires $5 to open
  • You earn interest and pay no monthly service charge
  • Within the guidelines of savings regulations, you may make up to six withdrawals per statement period*
Email our Member Service Center

Rates

Active as of 09.18.2021

Business Savings Accounts

ProductMinimum to OpenMinimum Daily
Balance to Earn APY
APY*
Business Savings Account$5.00$100.00.05%
Business Money Market**$2,500.00$75,000.00.25%
$50,000.00.15%
$25,000.00.10%
$2,500.00.05%
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Helpful Resources

At People’s Credit Union, we are passionate about providing resources, information, and solutions to help you get ahead.

Frequently Asked Questions

What can we help you with today? 

The documents required to open a business account vary based on the type of business entity:

  • Limited Liability Corporation or LLC
    • Articles of Incorporation
    • Department of Revenue IRS Employer Identification Number (EIN) form
    • Driver’s License (Valid)
  • Sole Proprietorship
    • Department of Revenue IRS Employer Identification Number (EIN) form or your social security card if you would like the business to be under your social and not reported as a separate entity.
    • Driver’s License (Valid)
    • Trade Name Certificate – You can apply and get this form at the town hall where you reside/or business.
  • Corporation
    • Partnership Agreement for the name of the business and its partners
    • Article of Incorporation
    • Driver’s License (Valid)
    • Department of Revenue IRS Employer Identification Number (EIN) form
  • Company
    • Article of Incorporation
    • Driver’s License (Valid)
    • Department of Revenue IRS Employer Identification Number (EIN) form

  • A Limited Liability Company Or LLC is a legal entity formed at the state level. An LLC exists separately from its owners—known as members. However, members are not personally responsible for business debts and liabilities. Instead, the LLC is responsible.
  • A Sole Proprietorship is an unincorporated business owned and run by one person. This option is the simplest, no muss, no fuss structure out there. You are entitled to all the profits of the business. However, unlike an LLC, you are also responsible for all of the liability.
  • A Corporation is a company that is related to larger businesses and entities. There is no single owner, the shareholders are the owners.
  • A Company is a business related to a small business or entity. The owners of a company are its members.

A Trade Name Certificate is required for the purpose of identifying those individuals doing business in a required state. All businesses are required by Rhode Island State Law to register their trade name in the Town Clerk’s Office. Forms are available at the town hall during regular business hours.

No. A business can be a beneficiary of a trust, but not a trust itself because it is a separate entity.