Business Savings

Solutions to Help Your Business Save money

If you’re looking for a safe place to put your business’s hard-earned money, whether it’s for a future expansion project or you’re just trying to save every penny in case unexpected expenses come up, Honor Credit Union has an account for you.  From money markets to certificate of deposits with competitive rates, check out our account options and let us help you start saving today. Because we know every business is unique, the first step is to talk to one of our business experts about what is best for your business.

Current Business Members

Not a Member Yet?

No problem! The first step is to talk to one of our business experts, or stop by a local Honor member center.

Membership Savings

A business savings account is a safe place to build your business’s savings with easy access and up to 6 free withdrawals per month. Save Smarter by saving with Honor.

  • Free online banking and e-statements
  • Free transfers to other Honor accounts
  • Straightforward account terms with convenient access to your money anytime, anywhere
  • Six free withdrawals per month ($10 fee after 6 withdrawals)
  • NCUA insured up to $250,000

Share Savings AccountsEffective Date:
Type Interest Rate APY*
Share Savings(for balances on $5.00 or more) 0.05% 0.05%
Health Savings (HSA) 0.25% 0.25%
*APY = Annual Percentage Yield. Rates are variable and subject to change without notice after account is opened. Fees can reduce earnings. Federally insured by NCUA.

Money Markets

Business money market accounts are a great way to earn a little extra interest on that money you’re already saving. One advantage of a money market account is after you make your initial deposit you still have access to the funds. Unlike a CD, you can make six electronic withdrawals per month without penalty. Money markets are idea for business owners who need access to their funds, but are determined to save money.

Tiered Interest Money Market

Momentum Money Market

Start Earning Interest At $2,500 Balance

Six Free Online Withdrawals Per Month*

Account Access In Online Banking

No Minimum Balance Or Monthly Fees

Earn More Interest On Higher Balances

*$10 fee for each electronic withdrawal after six. Members can make unlimited withdrawals in person at a member center.

Business Tiered Interest Money Market Rates Effective Date:
Interest Rate Interest Rate APY*
$2,500.00 – $9,999.99 0.10% 0.10%
$10,000.00 – $24,999.99 0.15% 0.15%
$25,000.00 – $49,999.99 0.20% 0.20%
$50,000.00 – $99,999.99 0.25% 0.25%
$100,000.00 – $249,999.99 0.30% 0.30%
$250,000.00 + 0.35% 0.35%
*APY = Annual Percentage Yield. Rates are variable and subject to change without notice after account is opened. Fees can reduce earnings. Federally insured by NCUA.
Business Momentum Money Market Rates Effective Date:
Interest Rate Interest Rate APY*
$2,500.00 – $9,999.99 0.15% 0.15%
$10,000.00 – $24,999.99 0.25% 0.25%
$25,000.00 – $49,999.99 0.50% 0.50%
$50,000.00 – $99,999.99 0.995% 1.00%
$100,000.00 – $249,999.99 1.243% 1.25%
$250,000.00 – $1,000,000.00 1.490% 1.50%
*APY = Annual Percentage Yield. Rates are variable and subject to change without notice after account is opened. Fees can reduce earnings. Federally insured by NCUA.

Certificate of Deposit

Certificates of deposit (CDs) are a popular and easy way for your business to save some money and Honor has made it as easy as can be. We offer a wide range of terms and competitive rates for our members. Watch your business’ savings grow with an Honor certificate of deposit.

  • We offer a variety of terms to match your business savings goals
  • Fixed rates on all Certificates, with an option to bump your rate one time during the term of your certificate
  • There are no monthly service fees
  • You can earn higher rates on longer term certificates

Share, Traditional IRA, Roth IRA, & Coverdell Education Savings Account Certificates Effective Date:
Term Interest Rate APY*
3 months1 0.20% 0.20%
6 months1 0.30% 0.30%
12 months1 0.55% 0.55%
18 months1 0.65% 0.65%
24 months1 0.80% 0.80%
30 months1 0.896% 0.90%
36 months1 1.045% 1.05%
48 months1 1.292% 1.30%
60 months1 1.539% 1.55%
12 month Add-On2 1.19% 1.20%
6 month special* 1.292% 1.30%
6 month relationship special** 1.490% 1.50%
All youth under the age of 18 will receive an additional 0.25% APY to the stated rates unless otherwise noted. A penalty fee may be imposed if you withdrawal funds prior to the maturity date.1 Rate Protector allows a one time rate adjustment for 3-36 month term CDs and a two time rate adjustment for 37-60 month term CDs with no penalties or fees.2 12 month add-on not eligible for additional 0.25%APY youth rate bump or rate protector adjustment.*No relationship requirement. CD special and relationship specials are eligible for a one time rate protector no matter the length of CD term.** Minimum (1) direct deposit or active checking (8+ debit card transactions) per month is required to receive above stated rates. Rate Protector and Youth 0.25% APY rate bump are valid on CD Specials. 6 Month Special CDs renew at the standard 6 month rate upon maturity. 

Health savings accounts (HSA’s) are a great way to offer an increased benefit to your employees while keeping your overall health care costs lower. A type of pre-tax savings account, HSA’s let your employees set aside pre-tax money to pay for qualified medical expenses.


  • Interest-bearing account
  • Funds roll over each year and grown until retirement
  • Free HSA debit card with no annual fee
  • Earnings are tax-free when used for qualified medical expenses (consult your tax advisor)
  • Great not only for the business owner, but also for your employees.

Contact Our Business Team

Our business development experts are located across the state of Michigan and are ready to help your business, whether you are a start-up, opening an additional location, or are interested in saving money for a future project. Our team will listen to your story and help you put a plan in place to help you and your business thrive!

Catie Brown-Busch

Honor Credit Union Business Development Officer Catie Brown-Busch

Coverage Area
St. Joseph, northern Berrien County, and Van Buren County

Office Phone
800.442.2800 ext. 2726

Cell Phone


Jamie Gollakner

honor credit union business development officer jamie gollakner

Coverage Area
Marquette, Negaunee, Gwinn, and all Upper Peninsula communities

Office Phone
800.442.2800 ext. 5005


Denise Nowak

Honor Credit Union Business Development Officer Denise Nowak

Coverage Area
Greater Kalamazoo area, Portage, and Battle Creek area

Office Phone
800.442.2800 ext. 9295

Cell Phone


Michael Rowland

Honor Credit Union Business Development Officer Michael Rowland

Coverage Area
Buchanan, Niles, New Buffalo, and southern Berrien County Area

Office Phone
800.442.2800 ext. 9545

Cell Phone


Business Savings FAQs

Yes! We can help you set up these accounts for your employees.  We can even come to your business to help employees open these accounts. Please contact one of our business team members to get started.

The biggest difference between these two money market accounts is the balance requirements and interest rates. For business members with a little extra to set aside, the Momentum account might be the better option.

Yes. You can have up to two money market accounts. You can have two TIMM accounts,  two Momentum accounts, or one of each. It just depends on what combination works best for you!

CD laddering is a common occurrence with opening certificates of deposit. You take your lump sum of money and divide it up between multiple CD’s with a variety of term lengths. This allows you to still earn higher rates of interest, but also to have the flexibility and access to your funds as they renew at different times.

Yes. You can download a QBO file to use. However, we recommend you check out our Autobooks tool. It’s a simple tool that integrates with your Online Banking, so you can keep everything organized in one place.