Business > Business Checking

Business Checking

Helping your organization thrive and prosper.

Checking Accounts to Match Your Needs

Business Checking 1

Our most popular and economical account—perfect for small businesses.

  • Minimum opening deposit of $10.00
  • Non-interest bearing
  • Up to 350 transactions per statement cycle with no monthly maintenance fee*

Business NOW Checking 1

Sole proprietors who maintain a minimum balance will earn a competitive interest rate with our Business NOW checking account.

  • Minimum opening deposit of $10.00
  • Up to 275 transactions per statement cycle
  • $2,500.00 average daily collected balance waives monthly maintenance fee*
  • No minimum average daily balance required to earn interest
  • Check today’s Interest Rates

Corporate Checking 1

Corporate Checking is built for large businesses with high volumes of transactions and large balances.

  • Minimum opening deposit of $10.00
  • Earns competitive Earnings Credit Rate
  • Earnings Credit may be applied to reduce monthly maintenance fees*
  • Flexibility of high monthly transaction volume
  • Check today’s Interest Rates

Communities Best Checking2

Helping nonprofits—both large and small—find success.

  • For qualified nonprofit organizations
  • $25.00 minimum balance to obtain the annual percentage yield
  • Up to 350 transactions per statement cycle with no monthly maintenance fee*
  • Check today’s Interest Rates

IOLTA Checking 3

For Attorneys who are looking for an Interest on Lawyer Trust account.

  • Available to Attorneys only
  • Offers interest on Lawyer Trust Accounts
  • Minimum opening deposit of $100
  • $100 minimum daily balance required to earn interest
  • Check today’s Interest Rates

Let’s Build Your Business Together

With a business checking account from Salem Co-operative Bank, we make banking easy.  Contact us today to learn more and to get started.

CONTACT US

1Must 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.)

2 Must provide a copy from the IRS of the EIN and letter awarding tax-exempt status. For associations we also require a letter from the board allowing authorization to the parties opening the account.

3 Must provide Attorney’s Notice of Enrollment form for MA or NH Supreme Court IOLTA Attorney Authorization form and a copy for the IRS of the EIN of the Law Firm or Individual Attorney.

*Refer to Understanding Your Business Deposit Account. Contact Us to receive a copy.

**Subject to credit approval. Fees may apply.

 

Additional Resources

Important Information about Opening AccountsFDIC Insurance Estimator | Business Deposit Rates and Fees | FDIC Video

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