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Partner up with a community credit union you can trust as you stow away funds to use for your business’s future.

Key Features

  • Competitive Dividends
  • No Monthly Service Fees
  • Digital Banking
  • Competitive dividends on balances of $505 or more
    • Tiered rates; higher balances earn higher rates
    • Dividends post quarterly
  • No monthly service fees
  • No minimum balance requirements after initial deposit
  • 6 free withdrawals per month; $5 fee for withdrawals in excess thereafter
  • Can be used as overdraft protection for checking
  • Free digital banking
  • $5 minimum deposit to open and maintain account
  • Ideal for businesses of any size or self-employed individuals
  • Gain the respect of your employees
    • Help employees reach their retirement savings goals
    • Employee always has complete ownership of all SEP IRA money
  • Earn competitive dividends on entire balance
  • Contributions are tax deductible; your business pays no taxes on earnings
    • Contributions made only by the employer
    • Only self-employed may make contributions on their own behalf
  • Little to no documents to file with government
  • Inexpensive to set up and operate
  • Flexible annual contributions — good plan if cash flow is unpredictable
  • Can contribute up to 25% of each participant's annual compensation (earned income)
    • Or, up to the maximum allowable limit for current plan year, whichever is less
    • Must contribute equally for all employees
  • Employee must first establish a traditional IRA, in which the employer will deposit SEP contributions
  • No monthly fees
  • $25 closure or transfer fee
  • No minimum deposit to open