Find the accounts you need to help your business thrive.
We offer two types of business checking accounts, based on the number of transactions performed within the account on a monthly basis. Basic Business Checking is designed for those businesses that need a simple checking account and have lower transaction activity. Business Performance Checking is designed for businesses with high transaction activity each month.
Both Business Checking Accounts Offer:
In addition to the features listed above for both Business Checking Accounts, Business Basic Checking also features:
In addition to the features listed above for both Business Checking Accounts, Business Performance Checking also features:
|•||Business Basic||Business Performance†|
|Monthly Maintenance||$5 or $0*||$20|
|Transactions||First 50 Free||Unlimited|
|Dividend Returns||Dividends on Certificate Products||1.00% APY** on Checking|
|Per Item Charge||$.35 per after 50 items||None|
*Lafayette Federal Business Basic account holders can waive the $5 monthly fee by meeting just one of the following criteria:
With the ease and convenience our credit union is known for, we can offer you a more business-friendly alternative to the high fees you are used to at regular banks. Because, after all, we are Member-Owned, Member-Focused and Member-Operated.
These basic dividend-earning savings accounts are the backbone of our savings program. Prime Share accounts earn dividends from the date of deposit to the date of withdrawal. Dividends are compounded and paid out each quarter.
A Prime Share account must be opened with a minimum deposit of $50. Subsequent deposits can be made in any amount. A minimum balance of $50 is required to retain your membership in the credit union.
Variable-Rate Certificates are share accounts that are held for specific terms, in exchange for higher dividend rates. There are penalties for withdrawal before the end of the term, but you can make additional deposits in any amount at any time.
We offer five-year, four-year, three-year, two-year, one-year, and seven-month fixed rate certificate accounts at very competitive rates. Fixed Rate certificate accounts are held for specific terms, in exchange for higher dividend rates. There are penalties for withdrawal before the end of the term.
We offer both personal money market accounts and business money market accounts. The two accounts are similar in most respects. There’s no maintenance fee for either account. You can open either account with any deposit; however the minimum balance at which you start earning dividends for personal money market accounts is $2,500 and $10,000 for business money market accounts. You must maintain the minimum balance for the entire monthly statement cycle to earn dividends.
Become a Select Employee Group (SEG) at Lafayette Federal and give your employees membership to one of D.C.'s premier financial institutions. Your employees will enjoy special member benefits and there's no cost to your company. Find out more
Enjoy our 1.00% APY² Checking Account Bonus — earn an outstanding rate with simple terms.
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Our members have access to Co-Op Network Shared Branches & ATMs for all basic transaction needs.
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