Business Banking Business Accounts At Town and Country Bank and Peoples Prosperity Bank, our goal is to empower your financial well-being by offering a team of professionals to work with you to build your business. Whether your business is large or small, brand new or long-established, we want to work alongside you to help make your business the best it can be. We realize what works for one business may not suit another, so we offer business checking and savings options to help make running your business easier. Business Checking Options Solution 300 Business Checking A basic checking account ideal for small to mid-sized businesses No monthly maintenance fee First 300 items (checks, debits, deposits) per statement cycle are free; each additional item is $.50 Treasury Management bundling, online cash management, and remote & mobile teller available Non-Profit Solution Checking A basic interest-bearing checking account ideal for nonprofits and public funds with low transaction volume Earn interest on balances over $100 No monthly maintenance fee First 300 items (checks, debits, deposits) per statement cycle are free; each additional item is $.50 Online cash management and remote & mobile teller available Solution Checking with Interest An interest-bearing checking account or higher activity and balances with advanced cash management tools Earn interest on all balances $10 monthly maintenance fee Checks written are $.15 per item; $.15 per deposit; Deposited item not on us $.10; Deposited item on us $.03; ACH Transaction $.05 Online cash management and remote & mobile teller available Analysis Checking A checking account for higher activity and balances with advanced cash management tools Earnings credit rate to offset service charges $10 monthly maintenance fee Checks written are $.15 per item; $.15 per deposit; Deposited item not on us $.10; Deposited item on us $.03; ACH Transaction $.05 Online cash management and remote & mobile teller available Business Savings Options Business Regular Savings Simplified savings solution $100 minimum to open Earn interest on all balances Avoid the $3.00 monthly fee by maintaining a $100 minimum balance Limited to 6 free transactions, each additional transaction is $1.00 Free business online banking Free eStatements Business Money Market Competitive, tiered interest rates Enjoy flexibility with access to funds including checking writing privileges Avoid the $10.00 monthly fee by maintaining a $10,000 average collected balance Limited to 6 free transactions, each additional transaction is $8.00 Free business online banking Free eStatements Business Certificates of Deposit Fixed rates typically higher than savings and money market investments $1,000 minimum deposit to open Provides FDIC insurance security up to $250,000 compared to other investments Wide range of terms available from 6 months to 5 years No set-up or maintenance fees Early withdrawals are subject to penalty View our rates Health Savings Account (HSA) Let employees know you care with a way to save for healthcare costs. Your staff will love the employer contributions as much as you'll enjoy the tax deductions.* Expand your company's benefits package with Health Savings Accounts. Health Savings Accounts are designed to help individuals save for qualified medical and retiree health expenses (as defined by the IRS) as well as for businesses to be able to provide affordable health insurance plans with income tax benefits. The HSA consists of two parts: (1) a qualified, high-deductible health insurance policy (HDHP) that covers substantial medical expenses, and (2) a savings or investment account from which one can withdraw money tax-free for qualified medical expenses. Any adult who is covered by a qualified high-deductible health plan (HDHP), and is not covered by any other plan, including Medicare, may establish an HSA. (Please contact your tax advisor for further eligibility requirements.) HSAs are portable. The account can travel with an employee from job to job, and funds can accumulate without the annual use-it-or-lose-it requirement of a Flexible Spending Account, enabling contributions and earnings to accrue tax-free, just like an Individual Retirement Account (IRA). Funds distributed from the HSA are not taxed if they are used to pay qualified medical expenses. To encourage saving for health expenses after retirement, individuals age 55 and older are allowed to make additional catch-up contributions to their HSAs. Employee Details Greater personal control over healthcare management and expenses Prepare for qualified medical expenses Earn competitive interest on entire balance Make tax-free withdrawals for qualified medical, dental, vision expenses, and more* Accessibility to funds** Additional personal contributions may be made, tax-free Unused funds remain in the account and can complement your retirement Keep your HSA in your name, regardless of career or life changes No service fee checking account Must make a deposit into the account within 30 days of opening Federally insured by FDIC Includes Visa® debit card Free online banking and e-statements Business Details Provide great benefit to employees Helps retain and attract good employees Contributions are tax-deductible* Reduced insurance premiums Little administrative burden We also offer non-FDIC insured investment options via Alliance Benefit Group of Illinois for your HSA from multiple mutual fund families. There are no front-end or back-end sales commissions. Website tools can be used to make investment elections, move money between funds, and access educational tools. Log in to MyHSA to manage your account online. *When used for qualified medical expenses according to IRS Publication 969. Consult a tax adviser. **Consult a tax adviser. You can withdraw funds at any time for any purpose. However, if funds are withdrawn for reasons other than qualified medical expenses prior to age 65, the amount withdrawn will be included as taxable income, and is subject to a 10% penalty tax. CDARS and ICS for Businesses Investing and insuring your large bank deposit has never been easier. With CDARS and ICS you can rely on Town and Country Bank and Peoples Prosperity Bank, the financial institutes you know and trust, to handle your investment while still receiving FDIC insurance on the entire amount. What is CDARS and ICS for Business? Town and Country Bank and Peoples Prosperity Bank are members of CDARS® (Certificate of Deposit Account Registry Service) and Insured Cash SweepSM (ICS). These services give you the security to obtain FDIC insurance and earn competitive interest rates in both liquid and term investments. This additional insurance can eliminate collateralization requirements and make accounting procedures more efficient. CDARS is used for investing large amounts in CDs, while ICS allows you to place large amounts into liquid deposit accounts. Benefits of CDARS and ICS When we place your deposit within the network, the deposit is divided into amounts under the standard FDIC insurance maximum of $250,000 at other well-capitalized banks. As a result, you can access coverage from many institutions while working directly with just us. You receive one easy-to-read statement from our bank summarizing all your money market and CD holdings. Town and Country Bank and Peoples Prosperity Bank now offer automatic program deposits and withdraws from ICS. You can set sweep thresholds for your account that will automatically generate program deposits and withdrawals. Why Choose Town and Country Bank and Peoples Prosperity Bank? When looking for CDARS banks and ICS banks, look no further than Town and Country Bank and Peoples Prosperity Bank. Our Central Illinois and Metro East business teams are comprised of experienced professionals who have spent their careers getting to know the business leaders in our community. In addition to their expertise in corporate finance, they understand the day-to-day issues that all business owners face. Town and Country Bank and Peoples Prosperity Bank offer a full range of modern business lending services, all tailored to meet the individual needs of your company. Locally owned and operated, we treat our clients like family. Insuring your large deposits We specialize in helping businesses succeed! Town and Country Bank and Peoples Prosperity Bank serve and empower local communities in Central Illinois and Metro East, one person or business at a time. Our branch locations include Springfield, Buffalo, Jacksonville, Lincoln, Decatur, Mt. Zion, Edwardsville, Fairview Heights, and Quincy, and our loan production office in Bloomington. When you need to insure large bank deposits, Town and Country Bank and Peoples Prosperity Bank proudly offer CDARS and ICS products. Don’t hesitate to contact us. Apply online or request a consultation with our business team today!