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Business Savings Accounts

You save for the future in your personal life. Why not do the same thing for your business?

Whether you’re looking an account to help with long-term savings, or a short-term place to collect taxes until next tax season, Verity has savings account options to fit your needs. It’s easy to move between accounts as your business grows and changes, allowing you to take advantage of additional benefits when it’s right for you. And with Digital Banking and mobile app access, you can manage your business from wherever you are.  

Explore our business saving account options below. And when you’re ready to open one, contact our Business Services team to get started. 


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You have a choice in where you bank

Verity is a local credit union that believes in socially responsible banking. We’re part of a movement working to create stronger, healthier, more sustainable communities because we believe a financial institution can do good. When you bank with Verity, your money helps make positive impacts in our vibrant communities. Rather than investing in Wall Street, about 90% of our deposits are used to invest in the local economy and members through loans, whether it’s a loan for an eco-friendly car, or adding a tiny home to your backyard. 

Why Verity?
  • Business Savings Accounts

    With bills, taxes and expenses, along with day-to-day expenditures and deposits, your checking account can get confusing. Keep your funds organized by using a Business Savings account to separate out those taxes and long-term expenses, while also building toward a future purchase or expansion.  

    • No monthly or annual maintenance fees* 
    • Competitive interest rates, compounded and credited monthly 
    • Multiple savings accounts allowed  
    • Withdraw funds anytime without penalty

     

    Contact Business Team

     

    *When you join Verity, you will have a non-transactional Business Membership account, which requires a one-time $5.00 membership fee. Additional savings accounts have no fees.

  • Business Money Market accounts

    Help your money work harder for you by opening a Business Money Market account. Whether you’re planning an expansion, saving to buy new equipment, or simply want to keep liquid funds on hand for a rainy day, a Business Money Market account can help. Money market accounts provide higher interest rates than a savings account with easier access to your funds than a certificate of deposit (CD). It’s like having an employee that pays you.  

    • No opening or origination fees 
    • No monthly or annual maintenance fees 
    • No minimum balance requirement 
    • Minimum opening deposit of $1,000 (not a fee) 
    • Competitive, tiered interest rates, compounded and credited monthly 

    Nonprofit organizations: Check out our special Money Market accounts for nonprofit organizations.

    Contact Business Team
  • Business Certificates of Deposit

    You’ve got long-term growth goals, and we’ve got CDs to get you there. With higher rates of return and multiple certificate term options, we’ve got the right fit to get you where you’re going. And since these accounts are federally insured, you can rest easy knowing your money is safe.  

    • Fixed-rate returns, guaranteed for your entire term 
    • Increase your rate of return according to three deposit tiers 
    • Terms range from 30 days to 5 years 
    • Low $1,000 minimum deposit to open 
    • Early withdrawal penalties apply* 

    Nonprofit organizations: Check out our special CD accounts for nonprofit organizations.

     

    Contact Business Team

     

    *Fees may reduce earnings. Early withdrawal penalty of 180 days interest applies. Account approval, qualifications, limits, enrollments and other requirements may apply. For full details, read the Certificate Truth in Savings disclosure.

Meet the business team

John Benner

Although John grew up in Eastern Washington, he knows the Seattle business industry well. In fact, he’s been working in business development and lending in the Puget Sound banking industry since 2012. He is an alumni of Gonzaga University and has only missed two of their basketball games in six years. John joined Verity in 2018 and works with area businesses to take care of their lending needs. One of John's specialties is working with business groups and chambers throughout the area, including the Real Estate Associates of the Puget Sound.

When John's not working or visiting the east side of the state, he gives back to his community by volunteering with local organizations, such as the Big Brother Big Sister Program of Seattle and the Ballard Boys and Girls Club. In his spare time you'll find him outside--hiking, biking, hunting, fishing, snowboarding, rafting or just spending time with family and friends.

Nick Rederick

Nick grew up in North Central Washington. He graduated from Eastern Washington University (Nick says its also known as the "Harvard of the West Coast") with a degree in Marketing and Human Resource Management. After graduating college, he moved to the west side of the state where took a job as a credit manager for big bank in 2002.  He has been working in banking ever since, making stops at big box banks, regional banks, community banks and credit unions along the way. Nick's financial experience includes mortgage lending, bank management, commercial lending and business development. He joined the Business Services team at Verity Credit Union in January of 2020 as the Business Services Development Officer.

When he's not solving business needs for our members and prospective members, Nick volunteers on the board of Communities in School Tacoma and at Saint Patrick's Catholic School. On his days off you'll often find him hanging with his family or cheering for the Seahawks or EWU football.

Ready to let Verity help with your business?

Contact Business Services