Business


Business Checking

Business Checking

Eligibility

Members who qualify for membership at Granite Credit Union can also open a business account that they own or if they are an officer of the company or corporation. Review eligibility requirements here.

Save on fees with a Credit Union Business Account

Benefits of a business account at Granite Credit Union:

  • Since we cater to small business, you’ll generally save big on fees.
  • Federally insured to at least $250,000 by the NCUSIF.
  • We’re locally controlled and are here to help your business succeed.

Call 801-288-3000 or toll free 1-888-428-8326 for more information.

Order New Checks

Contact our Check Printer

Our check printer, Harland Clarke, makes ordering new checks fairly easy. Whether you need checks for personal or business use, you’ll find a variety of styles to choose from.

What you’ll need:

  • Granite’s Routing # 324078721
  • Your Account #

How to order

  • Call 1-800-275-1053
  • Order online by clicking below.

Opening Requirements

Sole Proprietorship (DBA)

Items needed:

  • Social Security Number
  • Business registered with the Department of Commerce
  • Business License
  • 2 valid forms with one being US Government issued

Partnership

Items needed:

  • Social Security Number of one of the partners
  • Business registered with the Department of Commerce
  • Business License
  • Partnership Agreement
  • 2 valid forms with one being US Government issued for both partners

Limited Liability Company (LLC)

Items needed:

  • Tax ID
  • Business registered with the Department of Commerce
  • Business License
  • Articles of Organization listing all owners & Operating Agreement
  • 2 valid forms with one being US Government issued for all owners

Corporation

  • Tax ID
  • Business registered with the Department of Commerce
  • Business License
  • Articles of Corporation listing all officers & Corporation Bylaws.
  • 2 valid forms with one being US Government issued for all officers

Business Savings

Business Savings Accounts

Eligibility

Members who qualify for membership at Granite Credit Union can also open a business account that they own or if they are an officer of the company or corporation. Review eligibility requirements here.

Get Better Rates at your Credit Union

Benefits of a business savings account at Granite Credit Union:

  • We have great rates.
  • Federally insured to at least $250,000 by the NCUSIF.
  • We’re locally controlled and are here to help your business succeed.

Our Best Savings Products for Businesses

Money Market Accounts

  • Open with a deposit of $2500 or more and earn a higher interest rate than a regular savings account.
  • Your savings is available when you need it without penalty.
  • Accumulate savings in a Money Market Account in order to make a large purchase or investment.
  • Dividends are calculated on the Daily Balance and compounded and paid monthly.

Savings Certificates

  • Federally insured to at least $250,000 by the National Credit Union Insurance Fund.
    • No risk of losing your principal.
  • Get started with as little as $500.
  • Terms from 6 months to 7 years.

Business Retirement Plans

Simplified Employee Pension

A Simplified Employee Pension (SEP) plan is a type of retirement plan which allows you, the employer, to provide an important benefit to your employees. Help your employees prepare for their retirement through an SEP.

An “employer” may be a sole proprietor, partnership, or corporation. Amounts you contribute for your employees under a SEP plan are deposited into your employee’s traditional IRA.

To learn more about a SEP by contacting an IRA at 801-288-3000 or toll free 1-888-428-8326 for more information.

Business Checking/Savings Rates

Account Type
Minimum BalanceMonthly FeeDividend RateAPY
Effective Date - 10/1/2018Minimum BalanceDividend Rate APY
Business Savings $25
None.10%.10%
Organizational Savings $25
None.10%.10%
SEP$25
None.20%.20%
$5000.20%
.20%
$20,000
.25%.25%
Small Business CheckingNoneNonen/an/a
Organizational Checking
NoneNonen/an/a
Business Money Market Checking
MMA$25$10.10%.10%
MMA$2,500$10.25%.25%
MMA$10,000$10.35%.35%
MMA$25,000$10.45%.45%
MMA$50,000$10.55%.55%
MMA$100,000$10.65%.65%
MMA$250,000$10.75%.75%
APY is Annual Percentage Yield. This rate schedule states rates applicable to specified accounts. Dividends are compounded and credited monthly. *Minimum balance requirements apply to average daily balance (amount of principal in account each day). **All savings rates are variable, this means the dividend rate and annual percentage yield may change at any time as determined by the Board of Directors.

Business Certificate Rates

Regular and IRA Certificates - Term
Minimum BalanceDividend RateAPY
Effective Date - 10/17/2018Minimum BalanceDividend Rate APY
< 12 months$5001.49%1.50%
12 months$5002.47%2.50%
18 months*$5002.72%2.75%
24 months$5002.96%3.00%
36 months$5003.20%3.25%
48 months$5003.20%3.25%
60 months$5003.45%3.50%
84 months$5003.45%3.50%
*APY is Annual Percentage Yield. This rate schedule states rates applicable to specified accounts. Certificate dividends are compounded and credited monthly. Minimum balance requirements apply to average daily balance (amount of principal in account each day).
Penalties may be imposed for early withdrawals. The penalty is 90 days dividends on a term of 12 months or less, 180 days of dividends on terms of more than 12 months but less than 48 months and 365 days of dividends on terms 48 months or more.

Business Online Bill Pay

Check Into Business Online Bill Pay!

A Better Way to Pay Bills and Invoices

Today, small businesses want it all. That means true control of your finances, total convenience on your schedule, and
customization to do things your way. That’s why it definitely pays to check into business online bill pay.

Advantages of Business Online Bill Pay

  • Make payments quickly and easily.
  • Anytime, anywhere access.
  • Safer than mailing checks.
  • Save time by conveniently importing payees from Quicken® or QuickBooks®
  • Pay multiple invoices all at one time.
  • Set up recurring payments.

Instant Information/Customize Reporting

  • Run customized audit reports.
  • Track company spending.
  • Review payment activity by authorized users.
  • Reduce paperwork.

Delegate but Keep Control

  • Delegate the payments tasks.
  • Set up permissions and maintain control.
  • Set up e-mail approval so you can give the go-ahead before payments are made

Sign Up in 3 Easy Steps

  1. Login to your account at granite.org
  2. Access the enrollment form by using the Online Banking Login link
  3. Complete the enrollment form and you’re all set.

Get true control and total convenience for your business. Sign up today at granite.org

Paylogics

Simplifying HR

Simplify payroll, timekeeping and employee benefits.

If you’re searching for the perfect payroll provider and software solution that can provide a single-source solutions for all of your payroll, timekeeping, employee benefits and human resource need we have the answer.Paylogics green buttons to access paylogic website

Young couple taking an image of their check to deposit on their mobile app

Deposits made through remote deposit capture applications may not be available for immediate withdrawal. Funds will generally be available within 3 to 5 business days.

worldpay

Accepting Payment is Fast, Secure & Easy With Worldpay

Debit and Credit Card Transactions

If your business needs to accept VISA debit and credit cards, Granite Credit Union has teamed up with Worldpay to effectively, easily and securely handle these transactions.

Call a representative today.

World Pay ad - smiling young woman gets paid with a visa using worldpay