Introducing the Summit Business Package 2.00% APY** (Business Money Market Account).
Summit State Bank, an award-winning community bank, welcomes the opportunity to serve your banking needs.
Open a Summit Business checking account* and earn 2.00% APY** in your Summit Business money market account, paying 16 times more than the national average,*** and watch your money grow.
You'll have easy access to your money and if that's not enough, we'll share the increase with you if there is an increase by the Federal Reserve Bank.****
We are devoted to relationships and want to deepen ours with you. Call or come into one of our five Sonoma County locations to open your Summit Business Package.
Five Sonoma County locations to serve you:
Santa Rosa Main
500 Bicentennial Way
1001 Vine Street
2300 Midway Drive
10 Raley’s Towne Centre
100 Petaluma Blvd.
South, Ste. A
* Requires a non-interest-bearing business operating checking account with a minimum balance of $25,000 to obtain a Summit Business Package Money Market Account. If the minimum average balance falls below $25,000, a $25 monthly fee will be assessed. Funds for both accounts must be new money.
** The Annual Percentage Yield (APY) is accurate as of August 8, 2022. The minimum to open and obtain the APY is $50,000. If the average balance falls below $50,000, a $25 monthly fee will be assessed. Interest bearing accounts have a variable rate and the APY and interest rate may change without notice. Interest is compounded daily and is credited to the account monthly.Fees may reduce earnings. Please refer to the Business Details Disclosure, Deposit Account Agreement and Schedule of Fees for a complete description of terms and conditions. All new accounts are subject to Summit State Bank approval.
*** The national average rate on money market account as of July 18, 2022, is 0.12%, according to the FDIC Monthly Rate Cap.
**** If the Federal Reserve changes interest rates, we will split the difference of the change with you.