BUSINESS SAVINGS ACCOUNT RATES FAQs

Have questions? Check out our answers to some of the most frequently asked questions about our business savings accounts. If you have a question that we didn’t answer below, please reach out to our team.

• How can I learn more about current rates for business savings accounts at Wasatch Peaks Credit Union?

  You can request more information about our business savings account rates by contacting our Commercial Services Department. You can fill out our online form, call us at 801-452-7885, or email us at business@wasatchpeaks.com.

• What types of business savings accounts does Wasatch Peaks Credit Union offer?

  Wasatch Peaks offers several types of business savings accounts, including Share Savings Accounts, Budgeter Savings Accounts, Money Market Accounts, and Certificates (Flex and Dedicated Saver). Each account has different features, rates, and benefits to meet your business’s specific savings goals.

• What is the minimum deposit required to open a Share Savings Account?

  The minimum opening deposit to open a Business Share Savings Account is just $5. The account is your primary membership account at Wasatch Peaks, giving you access to a variety of other financial products and services.

• What are the benefits of the Budgeter Savings Account?

  Our  Budgeter Savings Accounts let you create up to five separate “pockets” for short-term savings goals, such as taxes, employee bonuses, or loan payments. You can transfer funds to your Business Checking Account when needed and set up automatic transfers for easier budgeting.

• How does the Money Market Account work?

  Our Business Money Market Account offers tiered rates, with higher account balances earning higher yields. It’s also a liquid account, meaning you can access funds anytime without locking them in for a specific term.

• What is a Flex Certificate, and how does it work?

  The Flex Certificate requires a minimum deposit of $50 but also lets you make additional deposits anytime. Withdrawals are allowed within the first three business days of each quarter. It’s designed to help you build savings consistently with higher rates than our Share Business Savings Accounts.

• Do I have to be a member to open a Business Savings Account? Does every authorized user have to be a member?

  Yes, you need to be a member to open a Share Business Saving Account. At least one account signer must be eligible to join Wasatch Peaks Credit Union. Membership is open to everyone who lives, works, worships, volunteers, or attends school in Weber, Davis, and Morgan Counties in Utah.