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Business Checking

woman standing in front of her small business

Small Business Checking

Small Business Checking provides services for those businesses or organizations in need of limited checking and/or deposit services including:

  • NO MONTHLY CHARGE when an average collected balance of $500 or more is maintained and 10 or fewer checks are paid during statement cycle *
  • NO CHARGE for deposits up to 10 items per month.
  • Choose between standard or full-size business checks.
  • NO CHARGE to use American Federal’s Online Banking, eStatement or telephone banker
  • NO CHARGE for a complete, itemized, month-end combined statement.

* If the average collected balance falls below $500, a fee of $8 per month is assessed. A charge of 20-cents is assessed for every check processed in excess of the first 10 checks.

Business Partner Checking

We designed Business Partner Checking for companies with larger check volumes and account balances. Business Partner Checking allows you to use funds in the account to offset charges, helping you to make sound financial decisions with less worry.

  • Choose business or standard-size checks.
  • Receive a month-end, itemized statement.
  • Apply your Earnings Credit (calculated on the 91-day Treasury Bill interest rate) to the following service charges:
    • Low monthly maintenance fee of $5.
    • 12 cent fee for each check paid.
    • 7 cent fee for each deposited item written on an American Federal account or local bank.
    • 9 cent fee for each deposited item written on a non-local bank.
    • 6 cent fee for electronic debit

American Advantage Checking

Our American Advantage Checking account provides benefits for you and your employees as one of our business clients.

  • Earn variable interest on average daily balance of $1,000 or more
  • Eligible for 0.25% interest rate increase on new CDs with new money deposited at American Federal
  • Eligible for 1% discount on consumer loans
  • Eligible for .25% discount on mortgage loan origination fees
  • Free American Federal designer check blanks
  • Eligible for American Savings, earning variable interest on a tiered basis on average daily balance in the savings account with a $300 minimum balance requirement
  • Unlimited check writing with sufficient funds available
  • No monthly service or per-transaction fees
  • No per-check charges
  • No minimum balance requirement
  • No charge for direct deposit or automatic loan payment
  • Free combined statement
  • Free service and support assistance from an American
  • Federal Associate
  • Free Online Banking, Online Bill Pay, eStatement and Telephone Banker
  • Free American Federal Debit Card*
  • No ATM fees*
  • Nominal charge for check images in your statement

*American Federal does not charge a fee for an American Federal Debit Card or HSA Debit Card. There is no charge to use an American Federal or Instant Cash ATM. There is a charge for a replacement card and a PIN change after the first change. Some ATM and POS (point-of-sale) operators, owners or networks not owned by American Federal may impose access fees unrelated to our accounts.