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Business Products & Fees

Serving businesses in our area is at the heart of Connecticut Community Bank, N.A. through our experienced, caring team of professionals.

Connecticut Community Bank, N.A. was founded on the premise that small to mid-sized businesses need a bank (and bankers) that understand and appreciate their challenges as well as their opportunities.

We specialize in providing commercial loans and lines of credit to help you meet your business needs and goals. We offer the expertise to design the loan best suited for your business including revolving lines of credit for day to day working capital or seasonal financing. We can also provide term financing of your equipment purchases, leasehold improvements, purchase or expansion of an existing site or other longer term capital needs.

We strive to know you and your business, tailoring loan, deposit and cash management products that fit your needs. Our online banking and telephone banking were designed to accommodate your busy schedule.

Simply stop by or call today and give us the opportunity to show you that quality banking service still exists.

EASY BUSINESS CHECKING

Our Easy Business Checking Account is a limited transaction account.

This Account Features:

  • Access to your account 24 hours a day, seven days a week through our online and telephone banking services.
  • Minimum to open $100.00.
  • Account allows up to 200 transactions per statement cycle at no charge.
  • No monthly maintenance fees if a $2,500.00 average collected daily balance and transaction limits are maintained.
  • Monthly maintenance fee if average collected daily balance is not maintained:
    $10.00 per statement cycle.
  • Monthly maintenance fee if transaction limits are exceeded (The $2,500.00 average collected daily balance only waives the $10.00 fee charged per statement cycle):
    $0.50 for every item presented over 200 transactions per statement cycle.

BUSINESS CHECKING

Our business customers have a direct connection to unlimited check writing privileges, and access to account information 24 hours a day, seven days a week.

This Account Features:

  • Access to your account 24 hours a day, seven days a week through our online and telephone banking services.
  • Minimum to open account is $100.00.
  • A competitive earnings credit allowance to offset all or part of the monthly service charges.
  • Unlimited check writing privileges.
  • Monthly service charges:
    $12.00 per statement cycle
    $0.15 per debit
    $0.10 per deposited item

BUSINESS NOW

Our NOW Checking Account is available to sole proprietors and non-profit organizations. The interest rate is variable and tied to the account balance.

This Account Features:

  • Access to your account 24 hours a day, seven days a week through our online and telephone banking services.
  • Minimum to open account is $100.00.
  • Interest will be compounded monthly and credited to your account every month. A $1,500.00 average collected daily balance must be maintained to earn interest. For current rate information, refer to our Summary of Interest Rates/Products table.
  • No monthly maintenance fee if the average collected daily balance of $1,500.00 is maintained.
  • Monthly maintenance fee if average collected daily balance falls below $1,500.00:
    $7.00 per statement cycle
    $0.30 per debit

BUSINESS MONEY MARKET ACCOUNT

The Business Money Market Account is available for commercial organizations, non-profit organizations, and estate entities. A tiered account, the Money Market Account interest rate is variable and is tied to the account balance.

This Account Features:

  • Access to your account 24 hours a day, seven days a week through our online and telephone banking services.
  • Minimum to open account is $2,500.00.
  • You may make no more than six (6) preauthorized, automatic, telephone, or electronic withdrawals or transfers to another account at this bank or to a third party during a month, including those initiated by you from a personal computer or debit card.
  • Interest will be compounded monthly and credited to your account every month. A $2,500.00 average collected daily balance is required to earn interest. For current rate information, refer to our Summary of Interest Rates/Products table.
  • No monthly maintenance fee if a $2,500.00 average collected daily balance is maintained.
  • Monthly maintenance fee if $2,500.00 average collected daily balance is not maintained:
    $10.00 per statement cycle

BUSINESS SAVINGS

Our Statement Savings Account is available to all businesses.

This Account Features:

  • Access to your account 24 hours a day, seven days a week through our online and telephone banking services.
  • Minimum to open account is $100.00.
  • Interest will be compounded monthly and credited to your account every month. Average collected daily balance required to earn interest is $200.00. For current rate information, refer to our Summary of Interest Rates/Products table.
  • No monthly maintenance fee if a $200.00 average collected daily balance is maintained. If account falls below $200.00 average collected daily balance a $2.00 per month maintenance fee will be imposed.
  • Combined statements available.

CERTIFICATES OF DEPOSIT

Certificates of Deposit offer a direct connection to competitive rates and financial security.

This Account Features:

  • Convenient terms ranging from 3 months to 36 months.
  • Minimum deposit required to open account is $500.00.
  • Interest will be compounded monthly. For your convenience, interest can be credited to your certificate each month, mailed to you by check, or deposited into another Connecticut Community Bank account. For current rate information, refer to our Summary of Interest Rates/Products table.
  • Accounts are automatically renewable. A penalty may be imposed for early withdrawal.

Jumbo Certificates of Deposit ($100,000.00 or more) are available for a variety of terms. Contact us for current rate information.
Additional certificate products, with different terms and balance requirements may be available. Contact us for further information.

CASH MANAGEMENT PRODUCTS

Direct Investment Account Relationship
To maximize your earnings, consider the Direct Investment Money Market Account. This tiered product works with our Direct Business Checking Account, allowing you to earn a competitive rate of interest on your deposit balance and minimize the need for you to manage your account balances.

This Account Relationship Features:

  • Access to your account 24 hours a day, seven days a week through our online and telephone banking services.
  • Checks and payments are issued from the Direct Business Checking Account, a zero balance checking account.
  • Funds are automatically swept from your Direct Investment Money Market account each night to cover payments made from the checking account.
  • The combined statement feature makes it easy to review all of your account activity at a glance.
  • A tiered product with a competitive interest rate.
  • Interest earned on the Direct Investment Money Market account is variable and compounded monthly. Interest is credited to your account each month. Contact us for current rate information.
  • The monthly charges associated with the sweep relationship accounts are as follows:
    $25.00 monthly maintenance charge
    $0.15 per debit
    $0.10 per deposited item.
  • A competitive earnings credit allowance to offset all or part of the monthly service charges.

COMMERCIAL LOAN PRODUCTS

  • Commercial loans and lines of credit include revolving lines for working capital, seasonal financing, equipment purchases or leasehold improvements.
  • Commercial mortgages are available including long term financing to purchase a new building or a construction mortgage to expand or renovate an existing site.
  • Letters of Credit are available to meet your financing needs
  • A variety of additional loan products are available to help you grow your business

ADDITIONAL BUSINESS BANKING SERVICES

  • Online Business Banking - manage your company finances 24/7 with the convenience of our online banking services.
    • Our Small Business service includes the ability to review account transactions, check your account balances and transfer funds between your accounts at Connecticut Community Bank
    • Our expanded Cash Management service includes all of the features in the Small Business service and can include, at your choice, Bill Payment and Presentment, Wire Transfers, ACH origination and more.
  • Easy Deposit - This product provides the convenience of making deposits to your business checking account, electronically 7 days a week, without ever leaving your office. A scanner at your desk, along with Internet access, will allow you to scan checks received from customers and issue deposits electronically to the bank, anytime day or night.
  • Health Savings Accounts - If you are providing your employees with a high deductible health plan, let us provide them with the opportunity to open a Health Savings Account.

WE ALSO OFFER:

  • Wire Transfer Services
  • Night Drop Services
  • Telephone Banking
  • Business Overdraft Protection
  • Employee Banking Services

Miscellaneous Fees


Service Fee
Insufficient funds/Overdrafts created by check, ACH transaction or through other electronic means (Paid or Returned) $33.00
Uncollected funds/Overdrafts created by check, ACH transaction or through other electronic means (Paid or Returned) $5.00
Return Deposited Item $15.00
ATM or Debit Card Replacement $10.00
ATM or Debit Card Replacement - Special Handling Varies per service
Bond Coupons - Returned $15.00
Check Printing Varies per style
Certified Checks $10.00
Money Orders $3.00
Official Checks $7.00
Checkbook reconciliation, per hour $25.00
Coin Counting 2% of total
Collections - Incoming/Outgoing $20.00*
Collections - Foreign Currency $15.00*
Currency Orders Varies*
Inactivity Fee $2.00 per month
Excess Transaction Charge $10.00 per item
Fax Service - Daily $20.00 per month
Fax Service - Monthly $10.00 per month
Foreign Currency Orders $15.00*
Foreign Checks Deposited $10.00*
Internet Banking - Personal w/bill payment No charge
Internet Banking - Business accounts:  
Small Business service $10.00 per month
Cash Management service Charges vary
Legal - Attachments, levies, garnishments $50.00
Lost Passbook $5.00
Notary - per notarization (non-customer) $5.00
Document Production $3.00 per page
Research, per hour $25.00
Signature Guarantee (customer only) No Charge
Stop Payment Orders $25.00
Telephone Transfer Requests No Charge
Travelers Cheques and Gift Cheques See schedule
Wire Transfers - Outgoing:  
International* $40.00
Domestic $25.00
Wire Transfers - Incoming  
   International* $20.00
   Domestic $12.00

*plus correspondent bank or service provider charges, if applicable

May 2014

 

Proud Divisions of Connecticut Community Bank, N.A. ®

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