Business Savings Accounts: Make one work for you.
Just as for an individual, a business savings account can be an important component of your financial picture. Use one to manage cash flow, maintain liquidity and even earn a bit of interest along the way. Simple statements, low balance requirements and the convenience of ATM, online and branch banking all make USB Business Savings Accounts work for you.
PREFERRED BUSINESS SAVINGS
A Union Savings Bank Preferred Business Savings Account starts with a low opening balance, and offers a tiered rate of interest – offering business owners the convenience of liquidity and easy access with a free Visa Business Debit Card.
BUSINESS MONEY MARKETS
With a Union Savings Bank Money Market Account, you’ll gain limited check writing privileges along with tiered interest rates – so the more money you deposit, the higher your earnings. For added convenience, the account offers a free Visa Debit Card to access your funds wherever Visa is accepted.
CERTIFICATES OF DEPOSIT
Maximize your interest earned while maintaining flexibility with a USB CD. Put money aside for anywhere from 91 days to 60 months – and your deposits are FDIC insured for the duration.*
HEALTH SAVINGS ACCOUNTS
Save for qualified medical expenses using tax free funds with a Union Savings Bank Health Savings Account. HSAs are a great way to stay prepared to manage health plan premiums or have funds ready for other qualified health expenses. And as an employer, offering your employees an HSA benefit provides added value – helping you retain and recruit talent.
One of the main advantages of an HSA is that it may reduce your FICA and federal unemployment tax liability, as well as state taxes**. Other benefits to offering an HSA to employees include:
For 2017: Employer + employee contribution limits are: $3,400 for self-only, $6,750 for family; note: these limits can change year to year
Your contributions to employee HSA’s may be tax-exempt**
Employees control their own accounts, so all you have to do is send employee payroll deductions to the account on behalf of the employee
Earn valuable rewards with a USB Business Credit Card.
Investing and financial planning services for you and your employees.
*CDs carry insurance up to the FDIC’s specified limits. For more information visit the FDIC’s website at FDIC.gov.
**Consult your tax advisor for information regarding tax implications.