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Blue Sky Bank’s Business Savings and Investment Accounts

Our promise of how Blue Sky Bank will work with you:

  • We will pick up the phone and answer your questions, no strings attached.
  • We’ll work quickly to understand your financial situation before ever suggesting ideas and solutions.
  • We’ll devise a range of solutions that make sense for you and make sure you clearly understand the advantages and disadvantages of each option.
  • We will be straightforward with you about whether we are able to compete with other solutions you’ve shopped.
  • Even if you’ve eliminated Blue Sky Bank from your set of possibilities, we’ll offer our expert opinion on your other options.
  • Contact Blue Sky Bank by phone or email and one of our experts will get back to you within the next business day, if not sooner.

Your business needs a home to grow its savings safely. Blue Sky Bank will guide you to the right place to keep your business’s money while it earns interest — whether it’s a business savings account or an investment program. All of these savings options are all FDIC-insured.

Business Money Market Account

Blue Sky Bank’s Business Money Market Account offers one of the smartest, safest, and most secure ways to grow your business’s money. This is similar to a savings account but with higher interest rates. These earnings come without the risk of investing through stocks, bonds, and Money Market Mutual Funds, which are tied to market fluctuations. This type of savings option is backed by FDIC to the maximum amount allowed by the law.

The benefit of having a Business Money Market Account is two-fold. Competitive interest rates offer higher annual percentage yields and you can more easily access that money. A rainy-day fund also serves as an emergency reserve. You can withdraw from this account up to six times a month without being penalized. The account can even provide overdraft protection by sweeping funds into your business checking account as needed. Managing your Business Money Market Account’s transactions and activity can be done through our online banking services. Talk to one of our bankers about opening a Business Money Market Account for as little as $2,500.

Opening a Business Money Market Account

  • FDIC insures your Business Money Market up to $250,000
  • Account will not earn interest for any day the balance is below $2,500
  • A $15 maintenance charge will be assessed if the account falls below $2,500
  • Limit of six withdrawals per month
  • A $5 fee may apply to each additional transaction

Blue Sky Bank CDs (Certificates of Deposit)

Investing in CDs may be the right choice for your business if it can part with money over a certain period of time. CDs carry minimal risk and give your business’s money a guaranteed return.

A CD is a federally insured savings account with a fixed interest rate and a fixed date of withdrawal, also called the maturity date. Blue Sky Bank issues CDs in promissory notes typically between three months and five years. These earn higher interest rates than a savings account. The Blue Sky Bank team will work with you to determine which plan is best for your business’s savings goals. When the note matures, the entire amount, including the initial deposit and principle, is available for withdrawal.

CDs are considered safer investing options. Even though the return comes more slowly, the funds are backed by the federal government —  unlike a similar investment in the stock market.

Opening a CD differs from a savings account in terms of accessing your funds. CDs come with a commitment that you will keep your funds in your account for a determined term length. Withdrawing that money early can result in penalty fees. Talk with one of our bankers about a time commitment that works for your business.

 

Blue Sky Bank Specialty CDs

Rates and terms on your deposit will vary depending on the amount of the deposit and term length of your account.

  • Minimum required deposit
  • Withdrawing before maturation date can result in penalty fees
  • FDIC does not cover penalties incurred from early withdrawals

For more information please call or visit any one of our branch locations during business hours; contact information listed at the bottom of this page.

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