Business > Savings > Business Savings

Businesses, corporations and partnerships may also benefit from an interest-bearing Business Savings account. This account is structured the same as our personal Silver Savings account. Along with an identification card, you will receive a register for you to record deposits, withdrawals and interest earned. A detailed statement displaying your account activity is mailed to you quarterly. Here are some important details of this account:

• $1 minimum deposit to open
• $50 minimum average daily balance is required to earn interest
• $200 minimum average daily balance is required to avoid a monthly maintenance fee
• 5 or fewer withdrawals per month are free

The following enhancements to this account are available upon request:

• direct deposit
• 24-Hour MoneyMate ATM Card
• All-In-One combined statement is available with a Lorain National checking account
• TeleBanker 24-hour telephone banking
• Telepay telephone bill payment service