Business Savings and CDs

The perfect savings vehicles for your organization.

Savings and Certificate of Deposit options to meet your business needs.

Whether you are looking to keep your business funds separate from your operating account or you are saving for a longer-term goal, we have saving options just right for your business.

Certificate of Deposit

This insured account from Salem Co-operative Bank yields a higher interest rate than many other types of accounts.

Minimum $500.00 investment offers a choice of terms ranging from six (6) to sixty (60) months
Higher rate of interest than transaction deposit accounts
Interest is accrued daily and compounded monthly
A minimum daily balance is required to earn interest
Convenient automatic renewals**
Penalties are imposed for early withdrawal of principal balances (contact us to learn more)*
Check today’s Interest Rates

Business Statement Savings

Build your business reserves with this no-frills savings account.

Minimum opening balance $10.00
Offers a competitive interest rate on minimum daily balances of $1.00 or higher
No monthly fee
Free Online Banking
Free monthly online or paper statement
Automatic transfers to your Salem Co-op account to minimize overdraft fees should your balance fall below $0.00 (ask a Customer Service Representative to set up this feature)
Optional combined statement
Check Today’s Interest Rates

Ready to Learn More about Our CD Options?

We want to help your business grow, and a Business Statement Savings account or Certificate of Deposit (CD) can be an excellent step forward.
Questions? Contact us today.

*A withdrawal of principal will reduce earnings.

**You may prevent renewal if you withdraw the funds in the account at maturity or within a ten calendar day grace period.

¹ Must be registered with the state and provide a certificate from the state, a copy from the IRS of the EIN and business documentation (Corporate resolution, etc.)

Additional Resources

Important Information about Opening Accounts | FDIC Insurance Estimator | FDIC Video | Deposit Rate and Fees

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