Pay Check Protection Program Deadline The Bank will accept complete PPP Applications until Friday, August 7th at 5:00pm
Apply for a Mortgage
Business > Money Market

Business Money Market Account

Business savings with flexibility.

Money Market Accounts 1 from Salem Co-op

Interested in a Money Market Account?

Let’s talk more about how
Salem Co-operative Bank can help.

 

CONTACT US

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.)

2Transaction Limitations: On Savings Accounts and Money Market accounts, the customer may make no more than six “convenient” transfers or withdrawals per month from the account. “Convenient” transfers and withdrawals for purposes of this limit include pre-authorized, automatic transfers (including but not limited to transfers from the savings deposit for overdraft protection or for direct bill payments) and transfers and withdrawals initiated by telephone, facsimile, or computer, and transfers made by check, debit card or other similar order made by the depositor and payable to third parties. Other types of transfers such as withdrawals or transfers made in person at the bank, by mail, or by using an ATM, do not count toward the six-per-month limited and do not affect the account’s status as a savings account. Fees: An excess debit transfer withdrawal fee of $10.00 may be charged for each third party withdrawal in excess of six during a calendar month. A fee of $3.00 will be charged for automatic transfers to cover overdrafts. Temporary suspension of Excess Transactions from Savings Accounts and the fees associated with them through 12/31/20: To deal with the pressures of the adverse financial impacts of the coronavirus, the regulation now allows unlimited transfers from your savings accounts, including electronic transfers.

 


Additional Resources

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

You are now leaving the Salem Co-operative Bank Website

The site you have chosen is independent from Salem Co-operative Bank. We do not control these websites and do not guarantee the accuracy, completeness and security of the information contained therein. Please be aware that the Privacy Policy of the linked website is not that of Salem Co-operative Bank’s Privacy Policy. Thank you.

Continue to the Site Go back to Salem Co-operative Bank