Find the accounts you need to help your business thrive.
Improve your bottom line when you conduct your business banking at Lafayette Federal. We offer two distinct business checking accounts, based on the number of transactions performed within the account on a monthly basis. Both checking accounts offer our Mastercard® Debit Card, free e-statements, and highly competitive rates.
Our Business Basic Checking is optimal for:
|•||Business Basic Checking|
|Minimum Opening Balance||$100|
|Monthly Maintenance||$5 or $0*|
|Transactions||First 50 Free|
|Dividend Returns||Dividends on Certificate Products|
|Per Item Charge||$.35 per after 50 items|
Our Business Performance Checking is optimal for:
|•||Business Performance Checking*|
|Minimum Opening Balance||$1,000|
|Dividend Returns||1.00% APY** on Checking|
|Per Item Charge||None|
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.
Contact our Business Development Representative for assistance opening your account. They’re happy to answer any questions that you may have!
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 2.02% APY³ Checking — a premium rate over 65 times higher than the national average¹
Simple terms, outstanding rate
Get the details on our new online banking and mobile app, including a timeline, to-do checklist, FAQ, and more.
Coming March 1, 2022
Our members have access to Co-Op Network Shared Branches & ATMs for all basic transaction needs.
Access branches and ATMs nationwide