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The Bank of Vernon, Community Banking Since 1911
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Business

Commercial Account

  • Minimum Balance to Open - $100.00
  • Maintenance Charge - $10.00
  • Checks & Deposits - $ .12
  • Items Deposited - $ .07
  • Return Item - $2.00
  • Overdraft Rate - 14.00%
  • Reserve Rate - 10.00%
  • FDIC Insurance Rate - 8.00%
 
Earnings credit to offset charges based on 3 month Treasury Bill Auction Rate. (All rates subject to change without prior notice)
No service charge in month opened 

 

Small Business Account

  • Minimum Balance to Open - $100.00
  • 0 - $3,499.99 - $12.00
  • $3,500 & above - No Charge
 
50 Free Withdrawals Per Statement Cycle
75 Deposit Items Free
Excess debit items $.22 each regardless of balance
Excess deposit items $.17 each regardless of balance
Non Interest Bearing.
14% charged on uncollected funds.
 

Business Money Market Account

  • 0 - $24,999.99 - $55.00
  • $25,000.00 & Above - No charge
 
Minimum Opening Balance - $25,000
Minimum Daily Collected Balance to earn interest is $25,000
Minimum Deposit Amount - $5,000
No checks allowed
One withdrawal per statement cycle allowed
$15.00 per withdrawal thereafter
(Available for businesses, corporations, non-profit and public funds only)
10 free deposit items $.12 per item thereafter