May is Small Business Month, honoring the impact that small businesses have on local economies. Travis Credit Union celebrates these entrepreneurs and the important role they play in our communities. We are dedicated to helping small businesses maximize their financial potential so they can reach their business goals this month and every month. In this blog, we’ll discuss how TCU’s suite of business banking products can help your small business grow and thrive.
What Is a Business Money Market Account?
Ensuring your business funds are safe, insured and earning interest are important requirements when it comes to a business savings account. A TCU business money market account not only helps you earn a high yield, but also keeps your funds available for when you need them. This is important for your business growth because interest rates on regular savings accounts are typically lower that money market accounts.
Benefits of Opening a Business Money Market Account
Designed for small businesses, our business MAA offers flexibility and efficiency in managing your money.
Here are some of the features and benefits of a TCU Business MMA:
- Earn a high yield on your money
- Unlimited access to your funds for convenient cash flow
- Flexible rates and terms
- Keep business expenses separate from personal expenses for tax purposes
For more information about our business MMAs and other products, view our rate chart. In addition to MMAs, TCU offers business savings accounts and business certificate accounts to maximize your savings flexibility and potential.
Checking, Savings and Bill Pay
Travis can help you with a lot more than just your business savings products. We offer various checking products that give you the confidence and peace of mind to manage your day-to-day expenses. A TCU business checking account can help you easily manage your transactions via check, debit card, online transfer or bill payment.
There are three types of business checking accounts available:
- Free Business Checking: Designed for new and existing businesses with limited account activity while still allowing for a generous number of transactions. Additional charges apply when activity thresholds are exceeded. There is no monthly fee nor minimum balance.
- Better Business Dividend Checking: For businesses that want to earn dividends on balances over $500 while still allowing a generous amount of activity for a small fee. Additional charges apply when activity thresholds are exceeded. To avoid the monthly fee, the account must have a $5,000 daily checking balance or combined minimum daily balance of $10,000 in checking, share and/or money market accounts.
- Analyzed Business Checking: Specifically for those businesses with very high activity limits and deposit balances. From checks, cash, electronic deposits and withdrawals, this account allows for an earnings credit to offset the monthly activity fees. Additional details and free cost analysis are available. There is a $16 monthly fee.
To learn more about each checking account, visit our business checking accounts page.
Other Small Business Banking Products and Tools
TCU offers more than just savings and checking products to help your business. We also provide business banking resources that make running your operations easier, so you can spend more time focused on revenue and growth.
- Business Bill Pay: Bill Pay can help you take control of your payments by using our convenient digital banking experience. You can schedule payments in advance, set up recurring payments, pay electronic bills and view your payment history.
- Payroll Services: Managing your payroll can take away necessary time from growing your business. Use Paychex and EasyPay to manage your payroll quickly and efficiently.
- Paychex offers:
- Flexible payroll reporting
- Multiple pay options for employees
- Payroll tax administration
- Personal, dedicated service
- EasyPay offers:
- Direct deposit services
- Quarterly business tax payments
- EDD employment tax payments
- Recurring payments
- Merchant Card Processing: To help you with point-of-sale (POS) transactions, TCU has partnered with Elavon to provide you with the latest technology for merchant solutions. Elavon provides these capabilities for your business:
- Chip card/EMV terminals and tablet POS systems
- The ability to accept mobile wallet payments
- Acceptance of VISA®, MasterCard®, American Express® and Discover® cards
- 24-hour member service and technical support
For more information, visit our business resources hub.
How TCU Can Help
With an array of business products and resources available, it’s time to become a member of Travis Credit Union! Start with a business MMA to make your saving goals attainable, automatic and efficient. Plus, TCU’s digital banking includes our top-rated TCU Mobile App, as well as giving you 24-hour access to your accounts.
To learn more about what TCU can do for your small business, visit our Business Banking page. You can also schedule an appointment at one of our 24 branches. Get started with TCU business banking this Small Business Month!