Business Money Market
Put your savings to work.
Business Money Market 101
Our Business Money Market account rewards you with balance-based dividends and easy, anytime access to your money via transfers, checks, or limitless cash withdrawals. It's the perfect hybrid (checking and saving) account, designed for the business owner on the rise.
Some spend money to make money. Others save it.
If you’re serious about growing your savings, our Business Money Market account has the potential to earn more dividends than any savings account. Plus, the higher your balance, the more you’ll earn. All it takes is a minimum opening deposit of $10,000 to start growing the savings that will build your legacy.
Business Money Market Rates
| Type | Dividend Rate | APY* | Balances | Dividends Compounded | Dividends Credited |
|---|---|---|---|---|---|
Type:
Business Money Market | $10,000.00 - $49,999.99
|
Dividend Rate:
0.499%
| APY*:
0.50%
| Balances:
$10,000.00 Minimum Opening Deposit
|
Dividends Compounded:
Monthly
|
Dividends Credited:
Monthly
|
Type:
Business Money Market | $50,000.00- $99,999.99
|
Dividend Rate:
0.499%
| APY*:
0.50%
| Balances:
$10,000.00 Minimum Opening Deposit
|
Dividends Compounded:
Monthly
|
Dividends Credited:
Monthly
|
Type:
Business Money Market | $100,000 +
|
Dividend Rate:
0.499%
| APY*:
0.50%
| Balances:
$10,000.00 Minimum Opening Deposit
|
Dividends Compounded:
Monthly
|
Dividends Credited:
Monthly
|
*APY = Annual Percentage Yield. APY is accurate as of the last dividend declaration date.
The Business Money Market and Business Premium Money Market are tiered accounts. Dividend rates for a particular tier, as disclosed above, will apply to the entire account balance once the minimum daily balance reaches the balance range for that tier.
The fee cycle for all accounts subject to the minimum daily balance requirement begins on the first day of the month and ends on the last day of the month. The minimum balance must be maintained in the account each day during the fee cycle to avoid the fee.
Fees may reduce earnings on the account. Rate may change after account opening. Rate may change after account opening.
Click the button below to see our Rate and Fee Disclosure.
Business Money Market Benefits
Get growing
Put your savings to work for your business today. Reach out, and we’ll get in touch to talk next steps.
Take our card. If you're creative and courageous, you're our kind of person.
- Phone: 931.431.6800
- Email: businessservices@forteracu.com
FAQs
What is a Business Money Market Account?
A Business Money Market Account is a savings account that is a hybrid between savings and checking accounts in that it earns higher dividends, like savings, but allows members access to their funds easily by transfer or by check.
Who is eligible to open a Business Money Market Account?
To be able to open a Business Money Market, you must meet the following eligibility requirements: (1) You must be 18 years of age or older (2) You must live, work, worship, or attend school in one of our service regions; join an affiliated partner, or have an immediate family member who is a Fortera member. Our service regions include Montgomery, Stewart, Chester, Decatur, Lewis, McNairy, and Perry counties in Tennessee or Christian, Trigg, Todd, McLean, and Webster counties in Kentucky. Residents of other counties in Tennessee, Kentucky, Alabama, and Arkansas may also be eligible. (3) You must have a Share Savings Account to establish Fortera Credit Union Membership. (4) You must be a business owner.
Can I add additional deposits to the Business Money Market Account?
Yes! Deposits may be added at anytime in any amount.
How much does it cost to open a Business Money Market Account?
It costs $10,000 to open a Money Market Account. $10,000 is the required account minimum balance.
What documents do I need to open the Business Money Market Account?
To verify your identity, we always ask that you come prepared with a government-issued ID. It is important that it is not expired. Examples of acceptable IDs include a State Driver's License or a U.S or Foreign Passport. If we have trouble validating your ID, we may ask for a secondary ID. If you have a question about whether or not an ID can be used, just text us at 931.431.6800 or chat with us at forteracu.com. Please click here for full list of the documents you will need.
What are dividends and how do they work for the Business Money Market Account?
Dividends are extra money that your account earns just by being open and meeting our minimum account dividend earning value. The Business Money Market Account earns dividends monthly as long as your account has at least $10,000 deposited in it. It is just another way we like to say thank you to our members for trusting us with your hard-earned "dough". To learn more about what the current dividend rate is and our other savings accounts that earn dividends, please see our Rate and Fee Disclosure.
Can I open the Business Money Market Account online or do I need to open it at a branch location?
You do need to call us or come into a branch to open this account. We are working toward having easy online applications soon. In the meantime, please call us at 931.431.6800, email us at businessservices@forteracu.com, or schedule an appointment to open an account.
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