Checking
Small Business Account
Available to businesses structured as Sole Proprietor accounts, which use a personal social security number for tax reporting purposes. The required minimum opening deposit is $25.00. If the daily balance falls below the required $500.00 minimum daily balance requirement at any time during the statement cycle, a $7.00 monthly service charge will apply.
Commercial Account
All other businesses, using a federal tax identification number for tax reporting purposes, will be issued a Commercial Checking Account. The required minimum opening deposit is $25.00. In summary, all monthly activity on the account incurs a charge. The total of these charges is offset by an earnings credit earned on the investable balance held in the account during the month. The analysis summary will then reflect the net charge (or no charge) to the account for that month.
Summary of Charges
| Checks Written on Account |
$.15 per unit |
| Deposits to the Account |
$.15 per deposit |
| Deposited Items (on-us checks) |
$.02 per item |
| Deposited Items (transit checks) |
$.08 per item |
| Monthly Maintenance Charge |
$7.50 per month |
U.S. Treasury Tax Deposits
Quarterly treasury tax deposits are accepted at United Bank of Union for current business customers.
