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Savings Accounts

Save up for the next chapter in your business story.

Business Savings

Opening a Business Savings Account is the first step to starting your membership with us. We’re excited to learn how your local Michigan business makes a positive impact in our state.

Get started by downloading the account application. Fill it out and bring it to any branch, along with the required paperwork, to open your Business Savings account.

Interest
0.05% APY1
Minimum to open
$5.00
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Required Business Membership Account

Minimum $5.00 to open account

Monthly $3 fee; waived with multiple active business products or at least a $300 balance (combined)

Free Business Online Banking and Mobile Banking

Interest compounded monthly

View fee schedule for withdrawal limitations

Download the Business Account Checklist to learn more about what you’ll need to open your account

Business Money Market Savings

A money market savings account can help you save for future business expenses. You work hard, now make your money work for you.

Get started by downloading the account application. Fill it out and bring it to any branch, along with the required paperwork, to open your Business Savings account.

Interest
Up to 0.35% APY1
Minimum to open
$1000.00
Get Started More Details

Monthly $10 fee; waived with $1,000 minimum balance

Free Business Online Banking and Mobile Banking

Free checks

Tiered interest rate based on balance

Interest compounded monthly

View fee schedule for withdrawal limitations

Download the Business Account Checklist to learn more about what you’ll need to open your account

Group Health Savings Accounts (HSA)

We’ve partnered with HealthEquity to offer HSA accounts just for Lake Trust business members. An HSA is a tax-free way to save for future medical expenses when you have a high-deductible health plan.2

Open Account More Details

Balance in HSA rolls over each year. If you don’t use all of the money in your HSA, you won’t lose it.

Pre-tax contributions, which could lower your taxable income

The account is yours to use and keep, even when you change jobs, retire, or switch insurance plans

Contributions can be used to pay for qualified medical expenses3, including dental, vision, and prescriptions, that are not covered by your health plan

Interest compounded monthly

Interest earned on the account is tax-free

You’ll receive an HSA debit card to pay for expenses

Manage your HSA account using the HealthEquity mobile app

Account can also be used for retirement savings

1APY = Annual Percentage Yield. Rates as of UniversalBusinessEffectiveDate and are subject to change.

2Qualified HSA contributions are tax deductible, and qualified distributions are tax free. Refer to IRS Publication 502 for a list of tax-free (qualified) medical distributions.

3Third party website. Lake Trust Credit Union is not responsible for the content, availability, security or compliance of any linked third party websites. In addition, the site's privacy policies may differ from those of Lake Trust.

Checking Accounts

Run your business knowing that you have the perfect checking account.

Learn More

Credit Cards

It’s the perfect way to make purchases and buy supplies for your business.

Learn More
Contact us today to start your Business Membership