Deposit Accounts

From Business Checking Accounts, to both short and long term saving options to loans that help your business grow, we offer the type of business banking products you need without all the fees charged by other business accounts.

Business Checking Accounts

Business banking made easier.
All checking accounts include convenient services such as:

  • Mobile Banking & Mobile Deposit
  • Internet Banking
  • Online Bill Pay
  • ATM/ MasterCard™ Debit Card

FREE Business Checking. No minimum balance requirements and no monthly service fees.

Business NOW

With a minimum balance of $300 there are no fees associated with the account and no per item charges. The $9.00 service fee applies if your account balance falls below the minimum at any time during the month.

Additional Features Include:

  • No per item charge for checks or cash / coin deposits
  • Free convenient month end statements
  • Free transfers between various accounts (including business to personal)
  • Employee check cashing

Non-Profit Checking

With a minimum balance of $300 there are no fees associated with the account and no per item charges. Non-profit checking accounts are interest bearing accounts, so as long as you have at least $100 in the account. The $9.00 service fee applies if your account balance falls below the minimum at any time during the month.

Premium Business Checking

This interest bearing account can be opened with just $100 and has a low monthly fee of $5.00. Interest is compounded continuously and is credited to your account on a monthly basis.

Additional Information:

  • First 50 checks written are free. After that, $0.15/each
  • First 50 deposited items are free. After that, $0.15/each
  • Earning credit of 0.05% calculation on the average daily balance to offset the total fee
  • Free convenient month end statements
  • Free transfers between various accounts
  • Free checking for business employees

Business Savings Accounts *

We offer various saving options for our business customers. If you are interested in setting aside funds for your business, come in and speak with one of our customer service representatives. We would be happy to sit with you to help find the best option!

Business Money Market Savings Account *

For businesses looking to save amounts of money while earning a higher interest rate, look no further than the Business Money Market Savings Account. The more you save, the more you earn as interest rates are tiered to reward higher balances. Accounts can be opened with a deposit of $15,000 and maintaining that balance helps you avoid the monthly service fee of $10**. Funds can be easily transferred between deposit accounts and you receive online and Mobile banking at no extra charge.

**Interest will not be paid on any day that the balance falls below $15,000.

*Regulation D – Regulation D is a directive of the Federal Government, not Wallkill Valley Federal Savings & Loan

You may make no more than six transfers and withdrawals, or a combination of such transfers and withdrawals, per calendar month or statement cycle of at least four weeks, from a non-transaction account (Savings and Money Market) to another account or to a third party by means of preauthorized or automatic transfer, or telephonic agreement, order or institution, or by check, draft, debit card, or similar order made by the depositor and payable to third parties.