Business Checking
Flexible Options to Fit Your Business
At Charter Oak Federal Credit Union, we know that managing your business finances should be straightforward and stress-free. That’s why our Business Checking accounts are designed to support businesses with the tools, flexibility, and guidance needed to succeed.
We offer a variety of checking solutions and Visa® Business cards to meet your business needs—from everyday banking to advanced financial tools, our accounts are designed to help your business thrive. Our unique Premiere Business Checking offers up to .30% APY* on your money, providing the opportunity to earn on your balance while managing your cash flow—helping your money work as hard as you do.
Charter Oak Business Checking makes banking simple, so you can focus on what matters most—growing your business.
Opening an Account is Simple:
- Inquire with some basic information
- Speak with a representative
- We'll follow up with an email providing you our Business Banking Member Kit tailored to your needs
- Send us back all requested information
- We guide you every step of the way, ensuring your business checking setup is fast, simple, and tailored to your company’s needs
All accounts come with our digital suite. Learn More >
Premiere Business Checking
Businesses checking accounts that have frequent ACH settlements, write a significant number of checks and have transaction intensive deposits will appreciate our Premier Business Checking. This account is designed to offer the business owner the ability to maintain a low cost relationship on a high volume transaction account. Combine this account with Charter Oak’s night depository service or merchant card processing and you have a winning combination!
- Tiered, variable rate
- First 300 transactions¹ per month – free
- No minimum balance required
- Monthly fee of $10 – waived with average daily balance of $10,000 or Merchant Card Processing²
- 50% off first order of business checks
- Free Online Bill Payment
| Balance | APY* |
|---|---|
| $0.01 – $24,999.99 | 0.05% |
| $25,000.00 – $99,999.99 | 0.10% |
| $100,000.00 – $249,999.99 | 0.25% |
| >= $250,000.00 | 0.30% |
Remote Deposit Capture
If your business handles a larger amount of checks, then the flexibility and scanning feature of Remote Deposit Capture may fit your needs! It’s easy, convenient and secure! Monthly fees may apply.
Cash Management
Charter Oak is pleased to offer its business banking members the added convenience of our Cash Management Services!
Basic Business Checking
Designed for the small business owner, this business checking account offers just the features you need at a price that won’t put you out of business!
If your business doesn’t write a large amount of checks, or deposit a significant number of checks, chances are Basic Business Checking is just right for you. Our Member Service Representatives will be happy to discuss your checking account needs and assist you in determining which value-packed business checking account is right for you.
- First 50 transactions¹ per month – free. Each transaction over 50: $0.25
- No minimum balance required
- No monthly service charge
- 50% off first order of business checks
- Free Online Bill Payment
Non-Profit 501 (c) Checking
This dividend-paying checking account is a great choice for charitable, non-profit, religious and educational organizations! Certificate of 501(c) status is required. Some restrictions may apply.
| Balance | APY* |
|---|---|
| $0.01 – $24,999.99 | 0.05% |
| $25,000.00 – $99,999.99 | 0.10% |
| $100,000.00 – $249,999.99 | 0.25% |
| >= $250,000.00 | 0.30% |
Business Credit Cards
Choose from our popular business credit card options such as low rate, cash back or flexible rewards to find the one that works best for your business.
No matter which card you choose, your business will benefit from important features like:
- Free online expense reporting tools.
- No fee for additional employee cards.
- Mobile payment capability for added convenience.
- Zero Fraud Liability.** You won't be liable for fraudulent purchases when your card is lost or stolen.
- Cardmember Service available 24 hours a day/365 days per year.
*APY – Annual Percentage Yield
1. Transactions defined as: ACH debits/credits, checks cleared or deposited and Online Bill Payments.
2. Merchant Card Processing must be with COFCU.
** Elan Financial Services provides zero fraud liability for unauthorized transactions. Cardholder must notify Elan Financial Services promptly of
any unauthorized use. Certain conditions and limitations may apply. The creditor and issuer of these cards is Elan Financial Services, pursuant to separate licenses from Visa U.S.A. Inc., and Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Rates Effective December 9th, 2025