BUSINESS CHECKING & SAVINGS ACCOUNTS
Put your money to work.
With Elevations, your business can bank on checking and savings accounts that work for your cash management needs. Plus, enjoy $0 monthly checking fees when you meet requirements.* No matter what you choose, feel good knowing we keep your money where your business is — right here in Colorado.
Our Business Checking Accounts feature:
$0 monthly fees when you meet requirements*
$0 minimum balance
$100 opening deposit requirement
Free Elevations Visa® Debit Cards for authorized signers
Free Mobile Check Deposit - Deposit Checks from Anywhere
Incoming and outgoing domestic and international wire transfers, with option to send domestic wire transfers online†
BUSINESS CHECKING ACCOUNT
Simple cash management for small businesses.
The Elevations Business Checking Account is designed for small businesses in Colorado with simple cash management needs.
Business Account Basics
No monthly maintenance fees for:
Non-profits*
Accounts with an average monthly balance is $5,000*
Accounts that spend $500 in a statement cycle on a connected Elevations Business Credit Card*
No minimum balance
$100 minimum opening balance
Transactions
No transaction fee on first 100 combined cash or check transactions
Up to $3,000 in cash deposits and/or withdrawals per month with no fees
PREMIUM BUSINESS CHECKING ACCOUNT
Access advanced features and earn interest.
The Elevations Premium Business Checking Account handles complex cash management for midsize to large Colorado businesses.
Business Account Basics
No monthly maintenance fees for:
Non-profits**
Accounts with combined balances of $15,000**
No minimum balance
$100 minimum opening deposit
Earn dividends on your checking balance
Access to ACH Origination for an additional fee
Desktop scanner service for depositing large numbers of checks
Transactions
No transaction fee on first 250 combined cash or check transactions per month
Up to $6,000 in cash deposits and/or withdrawals per month with no fee
OPEN A BUSINESS BANKING ACCOUNT
Starting a business checking or savings account is easy.
Apply for a business checking or savings account online. Then, we’ll schedule a quick conversation to finalize your application and make sure you’re set up for success.
Please have this information handy:
Tax ID Number
Details of ownership
Information for authorized signers
Updated Secretary of State documentation (we’ll pull the documents directly)
Commonly asked questions
You’ll need to bring these documents:
SSN or EIN assignment letter from IRS or front page of tax return
If DBA is requested: Certificate of Fact of Trade Name or Statement of Trade Name of a Reporting Entity
Statement of Foreign Entity (if your business is registered in another state)
Copy of valid photo ID per signer
SSN, address, and email per signer
These are general requirements, and your banker may require additional documentation. Additional Elevations-provided forms are also required at account opening.
You’ll need to bring these documents:
EIN assignment letter from IRS or front page of tax return, or SSN (if no employees)
Articles of Organization
Operating Agreement (optional)
If DBA is requested: Certificate of Fact of Trade Name or Statement of Trade Name of a Reporting Entity
Statement of Foreign Entity (if your business is registered in another state)
Copy of valid photo ID per signer
SSN, address, and email per signer
These are general requirements, and your banker may require additional documentation. Additional Elevations-provided forms are also required at account opening.
You’ll need these documents:
EIN assignment letter from IRS or front page of tax return
Articles of Incorporation
Bylaws
If DBA is requested: Certificate of Fact of Trade Name or Statement of Trade Name of a Reporting Entity
Statement of Foreign Entity (if your business is registered in another state)
Authorized signer documentation (ex., current meeting minutes, board resolution, or other acceptable documentation, unless authority is clear from other documents provided)
Copy of valid photo ID per signer
SSN, address, and email per signer
These are general requirements, and your banker may require additional documentation. Additional Elevations-provided forms are also required at account opening.
You’ll need these documents:
EIN assignment letter from IRS or front page of tax return
Articles of Organization
Operating Agreement
If DBA is requested: Certificate of Fact of Trade Name or Statement of Trade Name of a Reporting Entity
Statement of Foreign Entity (if your business is registered in another state)
Authorized signer documentation (ex., current meeting minutes, board resolution, or other acceptable documentation, unless authority is clear from other documents provided)
Copy of valid photo ID per signer
SSN, address, and email per signer
These are general requirements, and your banker may require additional documentation. Additional Elevations-provided forms are also required at account opening.
EIN assignment letter from IRS or front page of tax return
Articles of Incorporation
Bylaws
If DBA is requested: Certificate of Fact of Trade Name or Statement of Trade Name of a Reporting Entity
Statement of Foreign Entity (if your business is registered in another state)
Authorized signer documentation (i.e., current meeting minutes, board resolution, or other acceptable documentation, unless authority is clear from other documents provided)
Copy of valid photo ID per signer
SSN, address, and email per signer
These are general requirements, and your banker may require additional documentation. Additional Elevations-provided forms are also required at account opening.
Find the rate that's right for you.
We have many ways for Colorado businesses to save:
BUSINESS MONEY MARKET ACCOUNTS
Flexible cash flow with dividend earnings.
Earn higher dividends without tying up your funds. With a Business Money Market Account, you maintain full access to your funds to make deposits and withdrawals. This liquid account is ideal for saving up while keeping funds available for any needs that might arise. A minimum of $2,000 is required to open an account.
BUSINESS SAVINGS ACCOUNTS
A simple way for your business to save.
Supplement your Business Checking Account with a Business Savings Account. This option gives you access to withdraw funds any time without fees, and your funds are federally insured up to $250,000 by the National Credit Union Administration (NCUA).
BUSINESS CERTIFICATES
Set aside your deposit and watch it grow.
Business certificates are the perfect choice for those seeking a greater dividend return. Because you make a commitment to keep your deposit in a certificate for a specified term, you earn higher dividends than savings or money market accounts.
HEALTH SAVINGS ACCOUNTS (HSA)
Help your employees save for health expenses.
Enhance your employee benefits package by offering your staff a Health Savings Account (HSA) with no annual or monthly fees. Both employee and employer can make tax-deductible contributions, limited annually by the federal government(opens in a new window). Please refer to a qualified tax adviser regarding tax deductibility and other tax impacts.
More ways we can help your business
LENDING
A range of revolving lines of credit and loans to keep your business moving forward.
Learn more
CUSTOM SOLUTIONS
Our Business Banking Team can help you find banking solutions fit for your needs.
Meet our teamMembership eligibility and one-time $5 membership fee are due at account opening.
*To be eligible for $10 Business Checking monthly service fee waiver, the account must either:
Be a nonprofit OR make $500 of eligible purchases on a Business Credit Card or Business Rewards Credit Card during a statement cycle OR maintain a monthly average balance in the Business Checking share of $5,000.
Eligible purchases: Purchases are classified as purchases for goods or services and do not include cash-like transactions such as money orders, cash advances, balance transfer checks to access your account or any gaming, gambling, or betting transactions. Transaction codes are determined by the merchant.
Monthly average balance: The balance must meet or exceed $5,000 every business day during the monthly statement cycle. Your average balance is calculated by adding the balance for each day in the month and then dividing the number of days in the month.
The fee will be waived for the month in which that statement cycle ends. See Business Fee Schedule(opens in a new window) for any additional fees applicable to this account.
**To be eligible for $15 Premium Business Checking monthly service fee waiver, the account must be a nonprofit OR meet or exceed $15,000 in combined eligible loan share balances, deposit share balance, outstanding commercial loan balance, and business credit card balance.
Monthly average balance: The $15 monthly fee may be waived for the current month if eligible loan share balances meet or exceed $15,000 every business day during the monthly statement cycle. Your average balance is calculated by adding the balance for each day in the month and then dividing the number of days in the month.
Eligible loan share balances: Outstanding line of credit balance (commercial or small biz), outstanding business credit card balance (statement cycle to statement cycle), and outstanding term loan balances (commercial or small biz), outstanding business energy loan balances. Balances from other membership accounts do not qualify for waiving this fee.
The fee will be waived for the month in which that statement cycle ends. See Business Fee Schedule(opens in a new window) for any additional fees applicable to this account.
†Domestic and international wire transfers can be done in an Elevations Credit Union branch. Domestic wire transfers can also be done through Business Online Banking. Please see the Business Fee Schedule for more details about wire transfer fees.