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Business Savings Accounts

Set your business up for success no matter what challenges or opportunities come your way. With a business savings account you can build the freedom you need to adapt and grow. All while working toward your future goals.
Amy, owner of Brighton Coffeehouse holding "Open" sign.

Save for the next chapter in your 
business story.

Save for the next chapter in your 
business story.

Whether you’re opening the first account for your new business, or saving for your next groundbreaking step, we’re here to help. Choose the business savings account that’s right for you.
Arace-BrightonCoffeeHouse-29

Business Savings Account 0.05% APY1

When you open a Business Savings Account, you not only take an important step for the growth of your business, but you become a valued Lake Trust member. We can’t wait to learn your story and support your goals, while making a positive impact in our Michigan communities, together.
INTEREST
0.05% APY1
MINIMUM TO OPEN
$5.00
Start now
MORE DETAILS
Required Business Membership Account

Minimum $5.00 to open account

Monthly $3 fee; waived with an additional active non-savings product, such as a checking, CD, loan, or credit card by maintaining a $300 balance.

Free Business Online Banking and Mobile Banking

Interest compounded monthly

View fee schedule for per item fee

Business Money Market Savings UP TO 1.06% APY1

Keep your business goals in sight and save for future business expenses with a business savings account that works almost as hard as you do. Earn more for saving more with a Business Money Market Savings account.
INTEREST
UP TO 1.06% APY1
MINIMUM TO OPEN
$1,000.00
Start now
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

Business Money Market Premium UP TO 1.06% APY1

Reach your next business milestone faster in an account that rewards you with a premium rate. And take your business savings to the next level.

 

INTEREST
UP TO 4.25% APY1
MINIMUM TO OPEN
$1,000.00
Start now
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

No minimum withdrawal amount

Business/Municipal/Government Savings UP TO 1.06% APY1

Opening a Business/Municipal/Government Savings Account is the first step in starting your membership with us. 

 

INTEREST
0.05% APY1
MINIMUM TO OPEN
$5.00
Start now

MORE DETAILS
Required Business Membership Account

Minimum $5.00 to open account

Monthly $3 fee; waived by maintaining a $300 daily balance or an additional active non-savings product, such as checking, CD, loan, or credit card

Free Business Online Banking and Mobile Banking

Interest compounded monthly

View fee schedule for withdrawal limitations

Municipal/Government Money Market Savings UP TO 1.06% APY1

You work hard to strengthen and improve the lives of the citizens of your community. Let a Money Market Savings Account work harder for you. And make reaching your goals a little easier. 
INTEREST
UP TO 1.31% APY1
MINIMUM TO OPEN
$1,000.00
Start now
MORE DETAILS
Monthly $10 fee; waived with $1,000 minimum balance

Free Business Online Banking and Mobile Banking

6 checks allowed per month

Tiered interest rate based on balance

Interest compounded monthly

View fee schedule 

Group Health Savings Accounts (HSA)

Your health and wellness matter for the success of your business. Do your best while feeling your best. We’ve partnered with HealthEquity to offer Health Savings Accounts (HSA) just for Lake Trust business members. An HSA is a tax-free way to save for your future medical expenses when you have a high-deductible health plan.2

START NOW3
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

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

FINANCIAL WELLBEING LIBRARY

Learn more about how you can empower your business.

Your financial wellbeing means more than your balance sheet. It’s about how you’re feeling about your finances. And we’re here to help support you wherever you are on your journey.

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1APY = Annual Percentage Yield. Rates as of September 23, 2024 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.