BUSINESS SAVINGS
Idle cash should be paying you something
Most small businesses keep too much sitting in checking because moving it feels like a chore. Set a target balance once and Summit moves the rest overnight, where it earns up to 3.35% APY.
Three places to put it
Match the account to how soon you need the money
Payroll reserve, tax money and the fund for the roof are three different jobs. They do not belong in the same account.
Business Share Savings
The account that makes you a member. Pays 0.75% APY on any balance, opens with $5 and moves to checking instantly. Good for a small buffer you touch often.
Business Money Market
Where most operating reserves live. Rates step up as the balance grows, topping out at 3.35% APY over $100,000, and you can pull funds any business day.
Business Certificates
Lock a rate for money with a known date attached, like an estimated tax payment or a spring equipment purchase. Twelve months currently pays 4.00% APY on $1,000 or more.
Rates
What your balance earns
Money market tiers apply to the entire balance, not just the amount above each threshold.
Account
Rate
Detail
Business Share Savings
0.75% APY
Any balance, $5 to open
Money Market, $2,500 to $24,999
2.40% APY
$2,500 to open
Money Market, $25,000 to $99,999
2.90% APY
Rate applies to full balance
Money Market, $100,000 and above
3.35% APY
Rate applies to full balance
12-month Business Certificate
4.00% APY
$1,000 minimum
24-month Business Certificate
3.80% APY
$1,000 minimum
APY means annual percentage yield. Certificate rates are fixed for the term; early withdrawal reduces earnings. Rates current as of July 2026 and subject to change. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
Automatic sweep
Decide once, then stop thinking about it
Tell us the balance your checking account should hold overnight. Anything above that line moves to money market after the close of business, and if a check clears in the morning that would take you under, the money comes back automatically. There is no transfer fee in either direction.
A shop holding $60,000 in checking out of habit earns nothing on it. Swept into money market at 2.90% APY, that is roughly $1,740 a year for filling out one form.
Reserve planning
Common questions
How much should a small business keep in reserve?
Three months of fixed costs is the number most of our business members land on: rent, payroll, insurance and debt service. Seasonal businesses usually need closer to five, because the reserve has to carry the slow quarter as well as an emergency.
Should I keep sales tax and payroll tax money separate?
Yes, and it is the single easiest habit to build. Open a second money market subaccount, move the tax portion the same day the sale settles, and never look at that balance as available cash. It earns the same tiered rate while it waits.
Is there a limit on how often I can withdraw?
Transfers between your own Summit accounts are unlimited, whether you make them in online banking or at a branch. Money market checks written to a third party are capped at six per month.
Are business deposits insured the same way personal ones are?
They are federally insured by the NCUA. Coverage on a business account is generally $250,000 for the entity itself, separate from the personal coverage the owners hold. A banker can walk through structuring larger balances across ownership categories.
What happens to my certificate at maturity?
We write to you 20 days before the maturity date. You get a 10-day grace period to add funds, take the money or change the term, and if you do nothing it renews at the current rate for the same length.
Can savings balances help me get a loan?
They help in two ways. A visible reserve strengthens the file when we underwrite a line of credit, and you can also pledge a certificate as collateral for a share-secured loan at a rate well under an unsecured one.
Put the reserve to work
Fifteen minutes with a business banker is usually all it takes to set the target and turn the sweep on.