Small Business Services

Business Savings Solutions

To become a Member of Coventry Credit Union and take advantage of the Credit Union Business Services, a Share Account must be opened and a $5.00 balance must be maintained.

Business Share Savings Account

  • Deposits can be made in person at any of our branch locations, direct deposit or via MemberNet Online and Mobile Banking Service.
  • Dividends are compounded and paid quarterly.
  • A minimum balance of $10.00 is required to earn the annual percentage yield (APY)*.

 

Business Statement Savings Account

 

  • A balance of $5.00 is required to maintain the Account and earn the annual percentage yield (APY)*.
  • Interest compounded monthly and credited monthly.
  • ATM card available.
  • Unlimited 24-hour access to your account at thousands of surcharge-free ATM Machines that are part of the NYCE®, Cirrus® and Credit Union Connection Networks (applicable fees may apply from the owner of the ATM).
  • Deposits can be made in person or at any one of our branch locations, by direct deposit, MemberNet Online and Mobile Banking Service, or via an ATM (if you have subscribed to this service.)

Click here to see current Share & Statement Savings Account Rates.

 

Business Money Market Account

With a Business Money Market Account you can earn a higher interest rate and still enjoy ready access to your funds. As your balance grows so does your interest.

  • Must be opened under the Business' Tax-ID Number
  • A minimum balance of $2,500 is required to maintain a Money Market Account and earn the annual percentage yield (APY)*.
  • Interest is compounded and credited monthly.

 

Business Money Market Rates

Rates effective as of October 1, 2016

*APY = Annual Percentage Yield

Products In Italics Have A Special Rate.

Rates are subject to change after account opening at anytime without notice.

 

How Your Funds are Federally Insured

The National Credit Union Administration (NCUA) is the federal agency that administers the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF, like the FDIC’s Deposit Insurance Fund, is a federal insurance fund backed by the full faith and credit of the U.S. GovernmentThe NCUSIF insures member savings in federally insured credit unions, which account for approximately 98 percent of all credit unions. All federal credit unions and the vast majority of state-chartered credit unions are covered by NCUSIF insurance protection.  Click here to learn more about how your accounts are federally insured.