Business Savings Accounts Boost your savings
by leaps and bounds.
Get ready to level up.
When you open a PenAir Business Savings Account, you get the convenience and security to help take your business to the next level.
Benefits
Build your cash reserves while maintaining access to funds everywhere you go, and more!
Liquid savings
Make withdrawals or deposits anytime while earning dividends on your cash.
Easy banking
Manage your money easily using Digital Banking to check your balance, deposit checks, and transfer money.
Boost your earnings
The larger your balance, the more dividends you earn with our tiered accounts.
Ready, set, grow.
Harness the power of a higher interest Business Money Market Account.
Explore Accounts
What does your business need?
Speak with a Member Advisor today for details on each specific account.
Business Primary
Start saving with just a $5 opening deposit and pay no monthly maintenance fee.
Nonprofit Primary
Interest-bearing nonprofit savings with only a $5 opening deposit and no monthly maintenance fee.
Business Secondary
Interest-bearing savings with no opening deposit or monthly maintenance fee.
(A Business Primary account is required to open a Business Secondary Account.)
Need a little more information?
Maybe you’ll find what you’re looking for here.
Yes, the following will be considered for all businesses. Other criteria may be needed depending on how long your business and PenAir business account has been established.
- Must have a valid email address (cannot be blank or declined@penair.org).
- Must have a valid physical address.
- Can not be over the Overdraft Protection limit.
- Must have a share balance greater than or equal to $5 in primary share savings.
- Must be eligible for Courtesy Pay.
- Can not have a Courtesy Pay loan.
- Any return deposited items within the last 90 days will require a review.
- No collection status on a loan or account (PACU charge off’s, past due/delinquent accounts).
- Must have a checking share on membership for Business Savings Account to be eligible for mobile check deposit.
- After logging into your account, under “Additional Services,” select Check Deposit
- Follow the prompts to take a picture of your check when using the Mobile App or scan your check when using the browser.
- The check must be endorsed in ONE of the following ways:
- Your Signature and the Account Number OR
- For Deposit Only and Account Number
- Verify the amounts and both sides of the check have been captured before submitting the deposit
Mobile Check Deposit for Businesses classified as a Partnership, LLC, Corporation and Association are temporarily having usage fees waived due to the COVID-19 virus until further notice. Mobile Check Deposit for businesses classified as a Sole Proprietorship is available at no cost.
Sole Proprietorship
- Valid Photo ID for All Signers
- Certificate of Fictitious Name (if the title of the business does not include the owner’s full legal name)
- Certificate of EIN, if applicable
General Partnership / Limited Partnership
- Valid Photo ID for All Partners
- Partnership Agreement – for Limited Partnership
- Certificate of Fictitious Name (if the title of the business does not match the legal name listed in business documentation provided)
Limited Liability Company (LLC)
- Valid Photo IDs for All Signers
- Articles of Organization
- Certificate of Fictitious Name (if applicable)
Corporation/Non-Profit Corporation
- Valid Photo IDs for All Signers
- Articles of Incorporation
- Fictitious Name Registration (if conducting business under another name not listed in the Articles of Incorporation)
You can find the Commercial Fee Schedule here.