| All deposits at Mazuma
are insured up to $350,000 - the highest level
of combined federal/private share savings insurance
available. This coverage is available through the addition
of excess coverage from Excess
Share Insurance Corporation (ESI). ESI now provides
$250,000 on top of the $100,000 provided by the National
Credit Union Administration.
Business Savings
Account 
Designed for businesses maintaining a balance below $2,500. Dividends are paid monthly.
- Initial minimum deposit
is $25.
- Dividends paid on monthly average balance of $250 or higher
- Up-to six withdrawals per month, at no charge
Business Checking Accounts
Business Checking options to meet the needs of your business. Check in on Mazuma's small business checking accounts for the right account.
Freedom Business Checking
Best option for businesses and not-for-profits with low-to-moderate transaction abd deposit volume. Monthly statements with online check images.
- NO monthly maintainance fee
- NO minimum balance
- $100 minimum opening deposit balance
- First 50 transactions are FREE
- $0.35 per deposit over 50
- $0.15 per check/debit over 50
- $0.10 per ACH credit over 10
- $0.10 per ACH debit over 10
- $0.10 per deposited item over 90
Business Checking
The cost effective option designed to meet the cash management needs of a business with high transaction volumes. A monthly maintenance fee and pre-items fees are assessed for debit and credit activity. An earnings creedit on the daily collected account balance would be paid to offset the charges.
- $100 minimum opening deposit balance
- $5.00 monthly maintenance fee
- $0.15 per debit cleared
- $0.35 per deposit made
- $0.10 per deposited ietm
- $0.10 per ACH debit/credit
Business Checking Plus
The best option for qualified non-profits, sole proprietorships and government Members. Dividends are paid monthly. Monthly statements with online check images.
- NO monthly maintainance fee when you maintain an average daily balance of $2,500.
- $20.00 fee for average balances below $2,500
Business Money Market
Mazuma Credit Union offers
businesses a higher rate of return over traditional savings accounts. Tiered interest rates enhance your company's earning potential - the higher the balance, the greater the earnings. Dividends are paid monthly
- No monhtly fees when you maintain an average daily balance of $2,500 or more
- Tiered rates at $10,000, $25,000, $50,000, $75,000, $100,000 and more than $100,000
- Up to six withdrawals and transfers per month, three of which may be by check.
*In
compliance with federal regulations, Mazuma Credit
Union must limit the number of withdrawals that are
not performed at the teller counter to six
per month. Also, no more than three of these
withdrawals may be by check. EXAMPLE:
You could write two checks per month and use the
remainder
of your transfers through SMARTLINE, Online Teller
or overdraft protection. IMPORTANT: Any additional
check withdrawals (over the three per month) will
be
returned "Refer to Maker" and your account will be
charged a $22.00 fee. Online Teller and SMARTLINE withdrawals
and transfers, and overdrafts in excess of the six
per
month (including the three checks) will not be processed.
Hint:
You can combine any savings
or checking account with an ATM
or Convenience Card
and SMARTLINE.
Business Certificates of Deposit (CD)
Mazuma Credit Union offers
your business safe and sound deposits in a variety of terms. Consider a CD investment at a great rate.
- Terms from 3 months to 5 years to meet short and long-term investment goals
- Minimum investment required
- Fee may apply for early withdrawal
Additional Business Services for Deposit Accounts
Mazuma also offers substantial and FREE activity-based services to our business Members.
Sweep Account
Sweep funds from your Savings or Money Market Account(s) over to your checking to cover debits/overdrafts.
Zero Balance Account (ZBA)
Each day your Savings Account starts out at a zero balance; funds are swept in to your checking to cover debits/overdrafts.
|
