Simple Savings Growth for Your Business
Focus on your business's future while building your savings goals effortlessly with savings account options from Cyprus Credit Union.
Many Ways to Invest in Your Business’s Future
Whether you’re looking for short-term gains or a long-term savings plan, our savings accounts offer flexible access to funds and competitive rates to match your budget and business stage. Whether you’re looking for short-term gains or a long-term savings plan, our savings accounts offer flexible access to funds and competitive rates to match your budget and business stage.
Business Money Market
Enjoy higher dividends than a regular Business Savings account and greater liquidity than a certificate. With a tiered interest rate plan, our traditional Business Money Market offers higher interest rates as your balance increases. It can also be linked to your checking account to automatically cover overdrafts.
Business Growth Money Market
A low savings balance doesn’t have to mean low interest earnings. Our Business Growth Money Market offers a reverse-tiered interest plan, so you get higher dividends on your lower balances. Funds can be easily transferred to a traditional Business Money Market account if you find that your balance is outgrowing the Business Growth Money Market. It can also be linked to your checking account to automatically cover overdrafts.
Dream Certificates
With flexible terms and high yields, our Business Dream Certificates are ideal for your business’s long-term savings. Plus, you can continue making deposits to the certificate for the entirety of the term. Any business eligible for membership at Cyprus may open a Dream Certificate.
Business Sweep Money Market Accounts
Automate your savings and maximize your earnings with a Business Sweep Money Market account. This account is linked to your business checking and allows you to set a target balance in the checking account. At the end of each day, any funds remaining above your target balance are automatically transferred into the money market. Should the funds in your checking account fall below the target balance, an automatic transfer will take place from the money market to the checking account to make up the difference.
UARHOF Accounts
Our UARHOF accounts allow real estate brokers to easily deposit funds held in trust for their clients. Dividends earned on these accounts are paid directly to the Utah Association of REALTORS® Housing Opportunity Fund (UARHOF), a nonprofit providing funds for housing-related programs in the community.
IOLTA Accounts
With an Interest on Lawyers' Trust Account (IOLTA), dividends are earned on the funds held in trust for attorneys' clients. These dividends are paid to the Utah Bar Foundation, a nonprofit providing legal education and services to those in need.
Grow Your Savings with Greater Peace of Mind
Enjoy the most from your savings goals with accounts that make building your funds effortless, with personalized support from experts that understand the Utah market.
Make Your Money Work
Put extra business funds to work and earn dividends while keeping your savings available for when you need them.
Save for What's Next
Whether you're building a cushion or planning a big move, choose a savings option that fits your business goals.
More Potential from Any Balance
Regardless of your balance, you can earn more with tiered-rate options designed to help your savings go further.
Savings, on Autopilot
Make managing your savings easier with accounts that automatically move funds between checking and savings to cover for you in case of unexpected expenses.
Regular Savings
| Balance or Term | Dividend Rate | APY | Min. Opening Balance |
|---|---|---|---|
| $0 and over | 0.05% | 0.05% | $5 |
Dividends are declared, paid, and compounded monthly.
Business Money Market
| Balance or Term | Dividend Rate | APY | Min. Opening Balance |
|---|---|---|---|
| $0 to $49,999.99 | 0.449% | 0.45% | $0 |
| $50,000.00 to $99,999.99 | 1.982% | 2% | $0 |
| $100,000.00 to $249,999.99 | 2.472% | 2.5% | $0 |
| $250,000.00 to $499,999.99 | 3.251% | 3.3% | $0 |
| $500,000.00 to $999,999.99 | 3.251% | 3.3% | $0 |
| $1,000,000.00 and over | 3.687% | 3.75% | $0 |
Dividends are declared, paid, and compounded monthly.
Business Growth Money Market
| Balance or Term | Dividend Rate | APY | Min. Opening Balance |
|---|---|---|---|
| $0 to $4,999.99 | 3.445% | 3.5% | $0 |
| $5,000.00 to $19,999.99 | 1.982% | 2.38% | $0 |
| $20,000.00 to $49,999.99 | 1.49% | 1.85% | $0 |
| $50,000.00 and over | 0.499% | 0.5% | $0 |
The rate for each tier applies only to the portion of the account balance within that tier, not to the full account balance.
Public Funds Money Market
| Balance or Term | Dividend Rate | APY | Min. Opening Balance |
|---|---|---|---|
| $0 and over | 3.494% | 3.55% | $0 |
Dividends are declared, paid, and compounded monthly.
Business Sweep Money Market
| Balance or Term | Dividend Rate | APY | Min. Opening Balance |
|---|---|---|---|
| $0 to $49,999.99 | 0.698% | 0.7% | $0 |
| $50,000.00 to $99,999.99 | 2.227% | 2.25% | $0 |
| $100,000.00 to $249,999.99 | 2.716% | 2.75% | $0 |
| $250,000.00 to $499,999.99 | 3.494% | 3.55% | $0 |
| $500,000.00 to $999,999.99 | 3.494% | 3.55% | $0 |
| $1,000,000.00 and over | 3.928% | 4% | $0 |
Dividends are declared, paid, and compounded monthly.
Business IOLTA Money Market
| Balance or Term | Dividend Rate | APY | Min. Opening Balance |
|---|---|---|---|
| $0 to $49,999.99 | 0.449% | 0.45% | $0 |
| $50,000.00 to $99,999.99 | 1.982% | 2% | $0 |
| $100,000.00 to $249,999.99 | 2.472% | 2.5% | $0 |
| $250,000.00 to $499,999.99 | 3.251% | 3.3% | $0 |
| $500,000.00 to $999,999.99 | 3.251% | 3.3% | $0 |
| $1,000,000.00 and over | 3.687% | 3.75% | $0 |
This account is for licensed attorneys' Interest on Lawyer Trust Accounts.
Business UARHOF Money Market
| Balance or Term | Dividend Rate | APY | Min. Opening Balance |
|---|---|---|---|
| $0 to $49,999.99 | 0.449% | 0.45% | $0 |
| $50,000.00 to $99,999.99 | 1.982% | 2% | $0 |
| $100,000.00 to $249,999.99 | 2.472% | 2.5% | $0 |
| $250,000.00 to $499,999.99 | 3.251% | 3.3% | $0 |
| $500,000.00 to $999,999.99 | 3.251% | 3.3% | $0 |
| $1,000,000.00 and over | 3.687% | 3.75% | $0 |
Dividends are declared, paid, and compounded monthly.
Regular Certificates
| Balance or Term | Dividend Rate | APY | Min. Opening Balance |
|---|---|---|---|
| 6 month | 3.784% | 3.85% | $500 |
| 12 month | 3.832% | 3.9% | $500 |
| 18 month | 3.88% | 3.95% | $500 |
| 24 month | 3.977% | 4.05% | $500 |
| 36 month | 3.928% | 4% | $500 |
| 48 month | 3.928% | 4% | $500 |
| 60 month | 3.928% | 4% | $500 |
Dividends are declared, paid, and compounded monthly.
Keep Track of Your Savings Wherever Your Business Takes You
Easily manage your business cash flow 24/7 with Home Banking and the Cyprus CU Mobile Banking app. Use our budget planning tools to view your cash flow as well as Card Controls which let you manage your spending, plus:
- Track payment history
- Set transaction limits
- Set up account alerts
- Access E-Statements
- And more!
Your Local Business Experts
When your business banks with Cyprus CU, you're paired with a dedicated Business Banker. Our experienced team is ready to support you with personalized guidance and solutions to help your business thrive.
Compare Options
Business Checking Accounts
Manage your spending with comprehensive budgeting and money management tools, and earn rewards from your important business expenses.
Business Lending
Secure the funds your business needs to grow, move, or expand with lending solutions for real estate, vehicles, equipment, and more.
Business Services
Optimize your daily operations with comprehensive money management tools and resources that help streamline cash flow.
Business Savings Accounts FAQs
Should I open a Dream Certificate or a Business Money Market?
While a Dream Certificate is typically used for long-term savings, it may make sense depending on your business and your goals. Business Money Market accounts are a great way to save funds while having them completely accessible for your business. Contact a Business Banker with additional questions.
What are the benefits of a Business Money Market or Dream Certificate?
A Cyprus Credit Union Money Market or Dream Certificate is a convenient way to see your earnings grow. Money Market accounts are completely accessible while earning interest to help your business grow.
Do I have to physically visit a branch to open an account?
While you may be required to sign documentation in person, we can typically start the account opening process over the phone. Call or email our business banking team to get started.
Can I access the money in my business savings account when I need it?
Access to your funds depends on the type of savings account you choose. Business Money Market accounts, for example, offer greater access while still helping your business earn dividends.
How can I choose the right savings account for my business?
Consider how much you want to save, how often you’ll need access to your funds and whether your priority is flexibility or earning potential. A Cyprus Business Banker can help you find an option that fits your needs.
Start Investing in Your Business's Future Today
Open a new Business Savings account from Cyprus Credit Union and enjoy higher dividend rates to reach your savings goals faster.
Need help finding the right tools for your savings goals? Work with a dedicated Business Banker and get personalized support tailored to your business needs. Contact our team of business bankers at 801-260-7600 ext. 5150 or email BusinessBanking@CyprusCU.com.
