Opening a Business Savings Account is the first step to starting your membership with us. We’re excited to learn how your local Michigan business makes a positive impact in our state.
Get started by downloading the account application. Fill it out and bring it to any branch, along with the required paperwork, to open your Business Savings account.
Required Business Membership Account
Minimum $5.00 to open account
Monthly $3 fee; waived with multiple active business products or at least a $300 balance (combined)
Free Business Online Banking and Mobile Banking
Interest compounded monthly
View fee schedule for withdrawal limitations
Download the Business Account Checklist to learn more about what you’ll need to open your account
A money market savings account can help you save for future business expenses. You work hard, now make your money work for you.
Get started by downloading the account application. Fill it out and bring it to any branch, along with the required paperwork, to open your Business Savings account.
Monthly $10 fee; waived with $1,000 minimum balance
Free Business Online Banking and Mobile Banking
Free checks
Tiered interest rate based on balance
Interest compounded monthly
View fee schedule for withdrawal limitations
Download the Business Account Checklist to learn more about what you’ll need to open your account
We’ve partnered with HealthEquity to offer HSA accounts just for Lake Trust business members. An HSA is a tax-free way to save for future medical expenses when you have a high-deductible health plan.2
Balance in HSA rolls over each year. If you don’t use all of the money in your HSA, you won’t lose it.
Pre-tax contributions, which could lower your taxable income
The account is yours to use and keep, even when you change jobs, retire, or switch insurance plans
Contributions can be used to pay for qualified medical expenses3, including dental, vision, and prescriptions, that are not covered by your health plan
Interest compounded monthly
Interest earned on the account is tax-free
You’ll receive an HSA debit card to pay for expenses
Manage your HSA account using the HealthEquity mobile app
Account can also be used for retirement savings
1APY = Annual Percentage Yield. Rates as of UniversalBusinessEffectiveDate and are subject to change.
2Qualified HSA contributions are tax deductible, and qualified distributions are tax free. Refer to IRS Publication 502 for a list of tax-free (qualified) medical distributions.
3Third party website. Lake Trust Credit Union is not responsible for the content, availability, security or compliance of any linked third party websites. In addition, the site's privacy policies may differ from those of Lake Trust.