Business Savings


Beneficial Ownership? The beneficial ownership rule makes it mandatory for all financial institutions to comply by identifying the ultimate beneficial owner(s) and a controlling person of a legal entity customer opening or maintaining an account. You need to complete this form whenever you open a new business account with us.

Contact us if you have any questions about our product line.

Services Features Benefits Fees
Business Savings Earn interest on deposits which are not withdrawn for a period of time. The account is often used as a means of building savings for future use.
  • - $200.00 minimum balance to open account
  • - Interest-bearing, paid monthly on balances above $200.00
  • - Link as overdraft protection
  • - Unlimited credit transactions
  • - Online Banking
  • - $10.00 maintenance fee if monthly average balance falls below $5,00.00
Certificate of Deposit Certificate of deposits are typically used by businesses who wish to earn interest on deposits for a term.
  • - $1,000.00 minimum to open account
  • - Competitive local rates
  • - Interest-bearing, paid monthly
  • - Terms range from 30-days to 5-years
  • - Tiered rates
  • - Automatic Renewals
  • - 7 calendar day grace period
  • - Online Banking
  • - Early withdrawal penalties dependent on term
Safe Deposit Boxes Option for safekeeping records and other valuables. Only available at Santa Rosa Main branch.
  • - Many sizes available
  • - 2 keys issued
  • - Auto account debit for ease of rental payments required
  • - Rent is based on box size
  • - $15.00 Key Deposit, reimbursed upon box closure and return of keys.

 

 

Nonprofit Partner Program:


Designed for 501(c) tax-exempt organizations to enhance fundraising efforts and maximize organization’s money.

Non-interest bearing operating accounts: Earn 0.95% on non-interest bearing operating accounts. Analyzed business accounts are included. For example, a $100,000 average Summit account balance would receive a $950 annual contribution.

Interest-bearing accounts: Earn 0.25% on your interest-bearing Summit savings, money market and demand deposit accounts. For example, a $100,000 average Summit account balance would receive a $250 annual contribution.

Insured Cash Sweep (ICS): Earn 0.65% on non-interest bearing operating account or 0.15% for an interest-bearing account.