Commercial Checking | Mid-Atlantic Federal Credit Union
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Commercial Checking

If your business has a higher monthly transaction activity, MAFCU Commercial Checking could be the best choice for you. This account features:

¹ - Must maintain a minimum $10,000 average collected balance (including checking and or loans) to avoid $20 fee. 
² - Checks are free up to $75.  Balance over $75 to be paid by member. 

Deposit to Open
$100.00 1

1Rate Information. The most recently declared dividend rate and annual percentage yield are listed in the table above. The dividend rate and annual percentage yield may change every month as determined by the credit union board of directors.
Compounding and Crediting. Dividends will be compounded and paid monthly. If you close your account before dividends are paid, you will not receive the accrued dividends.
Minimum Balance Requirements. The minimum balance required to open an account and to obtain the disclosed APY are listed above.
Balance Computation Method. Dividends on Regular Share and Holiday Club are calculated by the average daily balance method which applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
Earnings Credit Calculation: The earnings credit is derived by taking the average collected balance times the number of days in the month times the earnings credit rate divided by the number of days in the year, minus the average uncollected balance times the number of days in the month times the uncollected funds rate divided by the number of days in the year, minus any monthly fees. The earnings credit rate is based on the Premier checking account rate plus .10%. The uncollected funds rate is based on CitiGroup Prime + 2% as listed in the Wall Street journal as of the 25th of the preceding month. If the calculation result is negative, it will be posted as a fee and deducted from your account on the first day of the following month.
Accrual of Dividends. Dividends for the appropriate accounts will begin to accrue on the business day you deposit cash and/or non-cash items (e.g. checks) to your account.
Fees and Charges. The fees and charges that may be assessed against your account are listed on appropriate fee schedule.
Transaction Limitations. Withdrawals and transfers from your Accounts are subject to the following limits:
a. Transfers from your Regular Share Accounts through MATT (Member Access Telephone Teller), Online Banking, telephone transfers, preauthorized transfers and transfer to the Checking Account to cover drafts are limited to six transfers per month.
b. Withdrawals through the ATM/POS Networks may be limited to $300 per day.
c. Over the Counter Cash Withdrawals and Withdrawals through ATM may be limited to $1,000 per day.
d. Withdrawals may be limited if your loan(s) with the Credit Union are delinquent.
e. The Credit Union reserves the right to require a member intending to make a withdrawal from a Regular Share Account to give written notice of such intent not less than seven days and up to 60 days before such withdrawal.
Par Value of Shares; Dividend Period. The par value of a regular share in this Credit Union is $5.00. The dividend period of the Credit Union is monthly.
Nature of Dividends. Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Print out generated 04/25/17, 2:42:17 AM, from the Mid Atlantic Federal Credit Union web site at