Business Checking
First Federal offers the checking option that?s right for your unique business needs.
Free Business Checking
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- Business Advantage Checking
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- Community Checking
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- Commercial Checking
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- Commercial Interest Checking
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- ZBA Commercial Checking
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- Business Sweep/Money Market Checking
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1) Items include deposits made, cash deposited, checks deposited, withdrawals, checks written and ACH debits/credits. 2) First Federal reserves the right to convert account to commercial analysis account if 150 item limit is exceeded 3 times in a 6-month period. 3) Account could be converted to commercial checking if activity is exceeded.
Debit & Credit Cards
Add Visa© debit and credit cards to your First Federal business checking accounts to help manage your business:
- Improve employee purchasing in-store and online
- Improve expense reporting and record keeping
- Improve your company?s cash flow
Contact First Federal to apply for Visa business debit and/or credit cards for your business.
Sweep & Investment
First Federal offers zero balance and business sweep accounts to allow you to make the most of your money automatically.
Zero balance accounts (ZBA) allow you to consolidate multiple accounts that your business may maintain for payroll, A/R, A/P, etc. into a single checking account at the end of each business day. Funds are moved to your ZBA automatically only when needed; otherwise, that money is maintained in your central checking account.
With business sweep accounts, you only maintain the money you need in checking, while the rest is swept automatically into income-earning investment accounts.
Let First Federal design a sweep and investment strategy that is tailored for your business.
• Business Checking
• Business Services
• Merchant Services
• Employee Services
• Online Services
• Business Lending
• Resources
NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.
The term “noninterest-bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
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