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Unity Bank

Business Savings

We offer business savings accounts crafted to help you secure your financial future and achieve your most ambitious goals. Let us be your trusted partner in growth, as we work together to save for what truly matters and build a prosperous future for your business.

 

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Jake Melchert
Jake Melchert Relationship Development Manager Edina, MN 952-465-3016

Compare Business Savings Accounts

uBusiness Savings

Our straightforward business savings account!

Minimum to Open:
$200

Monthly Service Fee:
$7 if balance falls below $200 at any time during the month

No-Fee ATM Withdrawals:
At 37,000+ MoneyPass® ATMs nationwide

Interest Bearing:
Yes

Additional Information:
Set up sweeps from your business checking to maximize savings!*

*Fees may apply

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uBusiness Money Market

Our Business Money Market Account offers a high-yield savings solution with competitive interest rates and flexible access to your funds. Ideal for managing larger balances, this account combines the benefits of earning interest with easy liquidity, helping your business grow while maintaining financial flexibility.

Minimum to Open:
$200

Monthly Service Fee:
$10 if balance falls below $2500 at any time during the month

No-Fee ATM Withdrawals:
At 37,000+ MoneyPass® ATMs nationwide

Interest Bearing:
Yes.

Additional Information:
Set up sweeps from your business checking to maximize savings!*

*Fees may apply

Savings Goal Calculator

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CD Special

4.90% APY1

5 Months CD | $2500 Minimum

IRA CD Special

4.50% APY2

18 Month IRA CD  |  $2500 Minimum

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Employee Benefits: Individual Retirement Account

Integrating IRAs into your employee benefits package can enhance your company’s attractiveness and support your team’s financial well-being.

An Individual Retirement Account (IRA) is a tax-advantaged savings tool designed to help individuals prepare for retirement. IRAs offer various tax benefits depending on the type—Traditional IRAs provide tax-deductible contributions with taxable withdrawals, while Roth IRAs offer tax-free withdrawals for qualified distributions. Both types provide a wide range of investment options and the opportunity to grow retirement savings over time.

Here’s how partnering with us to offer IRAs can benefit your business and employees:

Enhanced Employee Benefits

Offering IRA options as part of your benefits package helps employees plan for their future and provides them with valuable tax advantages.
Employees can choose between Traditional and Roth IRAs based on their individual financial situations and retirement goals.

Tax Advantages for Your Business

While IRAs themselves do not provide direct tax benefits to employers, having a retirement savings plan demonstrates your commitment to employees’ financial health, which can improve job satisfaction and retention.

Partnering for Success

We can work with you to set up IRA options that fit seamlessly into your existing benefits package, including providing educational resources and support for employees to understand their IRA choices.

Our team can assist in communicating the benefits of IRAs to your employees, ensuring they are informed about how to take full advantage of these accounts.

Support and Administration

We offer comprehensive support for setting up and managing IRAs, including providing account information, handling contributions, and ensuring compliance with regulatory requirements.

Our dedicated bankers are available to assist with any questions or issues, helping you and your employees make the most of your retirement savings options.

By partnering with us to offer IRAs, you invest in your employees' future and enhance your overall benefits package. Together, we can help your team build a secure retirement plan while contributing to a more satisfied and motivated workforce.

Employee Benefits: Health Savings Account

Business owners can use HSAs as a valuable benefit to attract and retain employees. By offering HSAs, you enable your employees to set aside pre-tax dollars for medical expenses, reducing their taxable income.

A Health Savings Account (HSA) is a tax-advantaged account designed to help individuals save for medical expenses. Contributions to an HSA are tax-deductible, the funds grow tax-free, and withdrawals for qualified medical expenses are also tax-free. HSAs offer a flexible way to manage healthcare costs while providing significant tax benefits.

Here’s how it can benefit your business and employees:

Tax Advantages

  • Employer contributions to employees' HSAs are tax-deductible.
  • Reduces payroll taxes since contributions are made with pre-tax dollars.

Enhanced Employee Benefits

  • HSAs provide employees with a powerful tool to manage healthcare costs, giving them more control and flexibility.
  • Employees benefit from tax-free savings and growth for their medical expenses.

Attraction and Retention

  • Offering HSAs can be a competitive advantage, helping you attract top talent and retain valued employees.
  • Demonstrates your commitment to employees' health and financial well-being.

Lower Health Insurance Costs

  • Coupled with high-deductible health plans (HDHPs), HSAs can help reduce overall healthcare costs for both employers and employees.
  • Employees may have lower premiums with HDHPs, benefiting the company’s bottom line.

Portability

  • HSAs are owned by the employee and remain with them even if they change jobs, enhancing the appeal of your benefits package.
  • By incorporating HSAs into your employee benefits plan, you provide a flexible, tax-advantaged option that supports your employees' health and financial security while offering your business potential cost savings and tax benefits.
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