Business Checking

All the financial tools that your business needs to succeed

Four business checking options

Low fees keep business expenses in check

Time-saving Digital Banking tools

Cash back for card purchases with Easy Savings

Other accounts to consider

GreenState's Business Savings and Indexed Business Money Market accounts offer competitive earning rates and can help you grow your cash reserves.

Choose the account that works best for your business

Whatever your company's size, monthly transaction volume, or money-management style, GreenState Credit Union has a checking option that can help keep your everyday finances on track and your operations running smoothly. All accounts include:

Business Premier Checking3

Designed for businesses with modest transaction volume that don’t typically maintain high balances.

  • $1,000 minimum monthly balance ($7.50 fee if balance falls below minimum) 
  • Up to 250 free transactions per month
  • $0.25 fee for each additional transactions
Business Premier Plus Checking4

Designed for businesses that maintain a slightly higher daily balance and prefer to use a business credit card over debit cards.

  • $2,000 minimum balance ($7.50 fee if balance falls below minimum)
  • Earn 0.10% APY4 on checking balances
  • Up to 250 free transactions per month
  • $0.25 fee for each additional transactions
New! Indexed Business Checking5

Our Indexed Business Checking is a powerful operating account designed to maximize your earnings. With tiered yields tied to the Federal Funds rate, your returns will stay competitive as your business grows. Plus, you’ll enjoy convenient access to your funds and personalized support from our Treasury Management team.

  • Tiered rates to maximize earnings
  • Competitive yields tied to the Federal Funds rate
  • Minimum $10,000 balance required to avoid $10 monthly service fee
  • 350 transactions per month, $0.25 per thereafter
  • Convenient account access with Digital Banking, free eStatements, and account alerts
  • Dividends are paid monthly and accounts are NCUA insured up to $250,000
  • Additional NCUA coverage up to $15 million available

Contact tmsales@greenstate.org to get started.

Commercial Analysis6

Designed for companies that require a wide range of banking products and services and have high transaction volumes. 

  • No minimum balance
  • No transaction limit
  • Monthly fee depends on services used
  • Earnings credits can offset service charges and maintenance fees
Easy Savings7

GreenState partners with Mastercard for the Easy Savings program. Business cardholders automatically earn cash back when credit or debit cards are used at participating merchants for travel, dining, and fuel purchases.  With Easy Savings, cardholders earn up to:

  • 4% cash back at hotels
  • 4% cash back at restaurants
  • 1% cash back on fuel

To learn more and to view participating merchants, visit priceless.com/easy-savings.

Which Account Works for Your Business?

Select the accounts you want to compare:
Business Basic Checking2
Business Premier Checking3
Business Premier Plus Checking4
Commercial Analysis6
Minimum Balance
$0
$1,000
$2,000
None
Monthly Fees
$0.25 / Over Item Limit
$0.25 / Over Item Limit
$7.50 / Month if Below Minimum Balance
$0.25 / Over Item Limit
$7.50 / Month if Below Minimum Balance
Dependent on services used
Monthly Dividend on Checking Balance
N/A
N/A
0.10%APY4
N/A
Enhanced Dividend4
Item Limit
100
250
250
None
Online Banking
Free eStatements
Free Email & Text Alerts
Documentation Needed to Open a Business Account

To open a business deposit account, we will need to obtain information to verify your business as well as the individuals associated with it.

  • Basic information you must provide about individuals associated with the account include: name, address, date of birth and Social Security numbers.
  • We also require a valid current drivers' license or other government-issued photo ID for all authorized signers, all beneficial owners of 25% or more of the business, and for the person controlling the business or organization.
  • Please find the applicable business type in the list below and review the documentation needed in order to open an account. You must have the documentation listed below or we will be unable to open your account.

  • Trade Name Form8
  • Copy of driver’s license

  • Documentation applicable to how your organization, association, or club is organized.
    • Is your organization a non-profit corporation?
    • Is your association an LLC?
    • Is your club a non-profit organization or DBA?
  • EIN Verification
  • Basic information and copies of driver's license for all authorized signers.
  • Basic information and copies of driver's license for the control person for the organization, association or club. (club president or treasurer, HOA president or treasurer, etc.)

  • Partnership Agreement
  • EIN Verification
  • Basic information and copies of driver's license for all authorized signers.
  • Basic information and copies of driver's license for all owners of 25% or more of the partnership.
  • Basic information and copy of driver's license for the person controlling the partnership.
  • Registration and Active Status with the Secretary of State.

  • Certificate of Organization
  • Operating Agreement9
  • EIN Verification
  • Fictitious Name Certificate or Statement, if applicable
  • Basic information and copies of driver's license for all authorized signers.
  • Basic information and copies of driver's license for all owners of 25% or more of the LLC.
  • Basic information and copy of driver's license for the person controlling the LLC.
    Registration and Active Status with the Secretary of State.

  • Articles of Incorporation
  • Bylaws
  • EIN Verification
  • Fictitious Name Certificate or Statement, if applicable
  • Basic information and copies of driver's license for all authorized signers.
  • Basic information and copies of driver's license for all owners of 25% or more of the corporation.
  • Basic information and copy of driver's license for the person controlling the corporation.
  • Registration and Active Status with the Secretary of State.

Keep a close eye on your finances with a Business Checking account from GreenState Credit Union. Contact us or visit a branch in Iowa, Illinois or Nebraska.

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So you can focus on what truly matters: growing your business.

  1. GreenState Credit Union does not charge for the mobile app or text alerts, however your cell phone carrier may charge for text and data usage.

  2. Business Basic Checking: $50 minimum to open. No minimum balance. Monthly Fees: $0.25 per item after 100 combined items. An item includes any deposit, withdrawal, or transfer transaction. Dormant checking accounts will be charged a dormant checking fee of $7 per month. Checking accounts are considered dormant after six consecutive months with no member-initiated transfers or transactions.

  3. Business Premier Checking: $50 minimum to open. Monthly Fees: $1000 minimum average daily balance to avoid a $7.50 Maintenance Fee. $0.25 per item after 250 combined items. An item includes any deposit, withdrawal, or transfer transaction. Dormant checking accounts will be charged a dormant checking fee of $7 per month. Checking accounts are considered dormant after six consecutive months with no member-initiated transfers or transactions.   

  4. Business Premier Plus Checking: $50 minimum to open. APY is Annual Percentage Yield. APY is accurate as of the last dividend declaration date. Fees may reduce earnings on the account. Rate is subject to change after the account is opened. Enhanced Dividend Rate is paid out based on your monthly credit card spend connected with your account. To earn the enhanced rate, you must meet the spend criteria and is not on top of the base dividend rate. Credit card charges must post to the card between the first day of the month and the second to last day of the month. Transactions posted on the last day of the month will be applied to the next month's totals. If qualifiers are not met, 0.10% APY will be paid on all balances. May choose between e-Statements (free) or paper statements ($3.50 per month). Must maintain the required minimum balance in your checking account ($2,000). Dormant checking accounts will be charged a dormant checking fee of $7 per month. Checking accounts are considered dormant after six consecutive months with no member-initiated transfers or transactions.

  5. Indexed Business Checking: APY is Annual Percentage Yield. APY is accurate as of the last dividend declaration date. Fees may reduce earnings on the account. Rate is subject to change after the account is opened. Minimum deposit of $10,000 is required. $10,000 minimum average daily balance to avoid a $10.00 monthly service fee. $0.25 per item after 350 combined items. Treasury Management product only. Yields are tied to the previous months average “Fed funds effective rate” as published on the Federal Reserve website: https://www.federalreserve.gov/releases/h15/ “Bps” is “basis point”. 100 basis points is equal to 1%. Dormant checking accounts will be charged a dormant checking fee of $7 per month. Checking accounts are considered dormant after six consecutive months with no member-initiated transfers or transactions.

  6. Commercial Analysis: No minimum balance. Fees dependent on services used. Dormant checking accounts will be charged a dormant checking fee of $7 per month. Checking accounts are considered dormant after six consecutive months with no member-initiated transfers or transactions.

  7. Business Savings Account: Variable rate subject to change after account opening. APY listed above is accurate as of the last dividend declaration date. Fees could reduce earnings on the account. Share Savings and Business Savings: $1.00 per debit after three (3) per month. Dividends compounded monthly / variable rate may change monthly. $5 minimum balance required to maintain membership.

  8. The Trade Name Form is only necessary if the member’s last name is not included in the business name.

  9.  If you do not have an Operating Agreement and are a single owner LLC, GreenState Credit Union will accept a “Statement in Lieu of Operating Agreement”.