Business Savings Solutions
To become a Business Member of Ocean State Credit Union and take advantage of the Credit Union Business Services, you must open both a Personal & Business Share Account and maintain a minimum $5.00 balance in each.
Business Savings Accounts
Business Share Savings Account
- Deposits can be made in person at any of our branch locations, by direct deposit or transfer funds from your other OSCU accounts via Online Banking and Mobile Banking Service.
- Dividends are compounded and paid quarterly.
- A minimum balance of $10.00 is required to earn the annual percentage yield (APY)*.
Business Statement Savings Account
- A balance of $5.00 is required to maintain the account and earn the annual percentage yield (APY)*.
- Interest compounded monthly and credited monthly.
- You can make deposits in several ways: in person at any of our branch locations, through direct deposit, using Online Banking or Mobile Banking Services, or via an ATM with your Business Visa Debit Card linked to your Small Business Checking Account (if you have subscribed to this service).
| Product | Term | APY* | Interest Rate | Interest Paid | Minimum Deposit to earn APY |
|---|---|---|---|---|---|
| Business Banking Share Account | None | 0.15% | 0.14992% | Quarterly | $10.00 |
| Business Banking Statement Savings | None | 0.15% | 0.14990% | Monthly | $5.00 |
*APY = Annual Percentage Yield
Products In Italics Have A Special Rate.
Rates Are Subject To Change at anytime without notice
How Your Funds are Federally Insured
The National Credit Union Administration (NCUA) is the federal agency that administers the National Credit Union Share Insurance Fund (NCUSIF). The NCUSIF, like the FDIC’s Deposit Insurance Fund, is a federal insurance fund backed by the full faith and credit of the U.S. Government. The NCUSIF insures member savings in federally insured credit unions, which account for approximately 98 percent of all credit unions. All federal credit unions and the vast majority of state-chartered credit unions are covered by NCUSIF insurance protection. Click here to learn more about how your accounts are federally insured.