Business Accounts

Print

Business owners often require special services not offered to regular members. Provident's business accounts are distinguished from consumer accounts by supporting the higher transaction volumes that businesses have.

Business Savings 

This account establishes your business as a member of Provident Credit Union. Provident offers business accounts to all types of businesses including:

  • General or Limited Partnership
  • Corporation (Profit or Non-Profit)
  • Limited Liability Company and Limited Partnerships
  • Sole Owner/Proprietorship
  • Non-Profit Organizations

When your business joins Provident, you deposit $5 or more into a Business Savings account. Because Provident Credit Union is member-owned, this first $5 represents your "share" of stock in the organization. More about Provident Credit Union membership.

Once your business has joined Provident by opening a Business Savings account, you can then open a Business Checking account .

Click here for a checklist [pdf] of all documents and information you'll need to open your Provident Business account(s).

Use the Business Account Application [pdf] to open a new Business Savings and Business Checking account for your business. Then bring your completed application to any Provident Credit Union branch.

Non-profit Accounts

Provident Credit Union is committed to supporting non-profit organizations in reaching their mission by providing financial services that support the unique needs of charitable institutions. Serving the banking needs of nonprofits is just one way Provident Credit Union supports the efforts of these organizations to build stronger communities.

Rates   Apply [pdf]   Schedule Appointment

Business Checking 

Special Offer: Get $150 for opening a new Dividend Business Checking account! Details...

Avoid the hassles of sweeping your funds in and out of your savings with a business checking account* that earns dividends. Provident offers business accounts to all businesses that have little or no need for cash.

  • Competitive tiered rate of dividends on both checking and savings
  • No annual fees
  • No monthly fee
  • No restrictions on transaction limits
  • No check or deposit fees
  • Overdraft Protection**
  • Use your Visa® Business card to save on qualifying purchases with Visa SavingsEdge®
  • Plus all the great features our other checking accounts offer, including:
Financial Institution Account Monthly Cash Limits Monthly Transaction Limits (combined deposits and withdrawals) Monthly Fee Min. Balance Requirement to Avoid Service Fee APY*
Provident Credit Union Dividend Business Checking Unlimited Unlimited $0 N/A Up to 0.20%
Citibank Citibusiness Interest Checking $5,000 25 $18 $10k min. average monthly balance Up to 0.01%
Bank of the West EASY Business Interest Checking $2,500 ($.20 per $100 coins) 100 $20 $10k min. daily balance or $25k average monthly balance Up to 0.01%
Bank of America Business Interest Checking $7,500 150 $17 $5k min. daily balance or $10k average monthly balance Up to 0.02% ($10k min. monthly balance)
Wells Fargo Platinum Business Checking $20,000 500 $40 $25k min. daily balance or $40k combined monthly balance Up to 0.06% (Requires Platinum Savings account)

Once your business has joined Provident by opening a Business Savings account, you can then open a Business Checking account.

Click here for a checklist [pdf] of all documents and information you'll need to open your Provident Business account(s).

Use the Business Account Application [pdf] to open a new Business Savings and Business Checking account for your business. Then bring your completed application to any Provident Credit Union branch.

Non-profit Accounts

Provident Credit Union is committed to supporting non-profit organizations in reaching their mission by providing financial services that support the unique needs of charitable institutions. Serving the banking needs of nonprofits is just one way Provident Credit Union supports the efforts of these organizations to build stronger communities.

Visa SavingsEdge [icon]

Visa SavingsEdge®

Get automatic savings on purchases. No coupons. No codes. No hassles on your journey to business success. Watch this video about how the program works. Enroll now for free.

Rates   Apply [pdf]   Schedule Appointment

The minimum deposit to open a Dividend Business Checking account is $100.00. No dividends are paid on balances below the balance minimum specified for the lowest balance tier. See rate sheet. See service charge schedule for a complete list of fees.
APY = Annual Percentage Yield. Rates retrieved 3/22/2016 and are subject to change.
* Business Savings account required to open a business checking account.
** Traditional overdraft only. In the event of an overdraft, if you have selected certain accounts to be used for overdraft and the funds are available, they are automatically transferred from your other accounts and are subject to a per-item overdraft fee. Restrictions apply. (Click for details.) Courtesy Pay is not available for this account.

Provident Business Visa 

Provident's Business Rewards Visa® credit card allows you and your employees to keep business expenses separate from personal expenses. It is a great tool to simplify bookkeeping and control expenses.

If you wish to have cards for additional employees, you will be able to track expenses and cash flow with both individual statements and a summarized statement for all cards.

Visa Savings Edge

Get automatic savings on purchases. No coupons. No codes. No hassles on your journey to business success. Watch this video about how the Business Visa Savings Edge program works.

Rates    Apply [pdf]   Schedule Appointment

Health Savings Account (HSA) 

A Health Savings Account (HSA) is a tax-deductible savings account that can be used to pay for a wide variety of health expenses. The tax deductions and instant availability of funds to cover these expenses make HSAs an appealing benefit for your employees.*

Provident's HSA works like a checking account but government rules determine whether you are eligible and how you operate your account.

HSAs are sometimes referred to as "Medical IRAs". An HSA is a tax-deductible savings account that can be used to pay for a wide variety of health expenses. An HSA is a great way to save for both day–to–day and future medical expenses. For many consumers, the combined benefits of the tax deduction, the savings program, and the availability of funds for immediate medical expenses make HSAs the smart and flexible approach to health insurance.

If your company offers a high deductible health plan (HDHP), you may want to look at Provident's HSA to help employees manage their medical expenses. For more information, visit our Health Savings Account (HSA) page. To speak to a representative, call (800) 632-4600, extension 2180, or email our Business Development department.

* We highly recommend you obtain advice from your tax advisor and your health care administrator before you enroll to ensure your eligibility and benefits.

Apartment Building Loans 

Apartment buildings are our specialty! Consider the advantages of financing your apartment building with Provident, up to $4 million for 5-36 units:

  • 30 year terms
  • No pre-payment penalty
  • Fully assumable loan
  • Cash-out available on all programs

For more information on apartment building mortgages, E-Mail Us or call (800) 632-4600, option 1-2703.

Merchant Services 

Looking for a way to improve cash flow? Would you like to simplify your payment processing and provide better service options to your customers? Provident Credit Union ensures that its clients have around-the-clock care, with merchant services that allow small business to flourish and expand. Provident Credit Union has partnered with TSYS Merchant Solutions to offer the following services:

  • TSYS offers an online monitoring dashboard that monitors your business metrics at no cost.
  • 24 hour access to your account information and business data, both on mobile and online solutions.
  • Advance a reoccurring payment option that allows an easier month to month billing process.
  • A peace of mind with Card Compromise Assistance Plan if and when you have a card breach.
  • Customize a loyalty program for potential and current customers.
  • A multi-currency option for international customers so they can purchase the things they want with the currency they know.
  • A wide variety of business payment types that includes credit, debit, check services, ACH Processing, Electronic Benefits Transfer(EBT)

By accepting payments, clients know that they are using a reliable, secure and powerful service. The benefits are fast and secure. For more information call TSYS directly at (800) 354-3988 and inform them that you are a Provident Credit Union member, or you can contact Provident at (800) 632-4600.

Online Services 

Access and transact with your business accounts from your computer anytime with Provident Credit Union's Online Banking. Your business gets all the same online banking benefits as individual members do, and it's free: Transfer funds between accounts using cross-account transfers. Pay your vendors and/or employees using Bill Payments. Deposit checks online using e-Deposit. Order business checks online. The list goes on and on...

Learn more about online banking at Provident, or enroll online.

If you're already enrolled, you can Sign On from the home page or from the online banking menu in the upper left corner of any window of the Provident Web site.

Apply Now!

Click here for an easy reference guide [pdf] to all of the information and documents you need to open your Provident Business account(s).

Use the Business Account Application [pdf] to open a new Business Savings and Business Checking account for your business. Then bring your completed application to any Provident Credit Union branch.

To open a new Health Savings Account, use the forms on the Health Coverage application page.

To receive an application by mail, call (800) 632-4600 or visit any one of our Branches for personal service.