Put your business reserves to work. Share savings, tiered money market, fixed-rate certificates, and automated sweep accounts — all NCUA insured up to $250,000. Open a business share savings account with just $5.
Eglin Federal Credit Union structures its business savings products to match the liquidity and growth needs of Northwest Florida businesses. Whether your priority is same-day access to operating reserves, maximizing yield on idle capital, or locking in guaranteed returns for 12 to 60 months, the credit union offers a product designed for that purpose. As a not-for-profit cooperative, Eglin FCU returns surplus earnings to members as higher dividends — a structural advantage over for-profit banks that distribute earnings to shareholders instead.
The foundational account for any business relationship at Eglin Federal Credit Union. A $5 minimum deposit opens the account and establishes business membership. Dividends accrue from the first dollar deposited, compounded monthly and credited on the last business day of each month. There is no monthly fee, no minimum balance to earn dividends, and no cap on the number of deposits. Withdrawals are unlimited when made in person or via transfer to a linked business checking account.
Business Share Savings serves as the anchor account for sweep configurations, certificate funding, and loan collateral. Many businesses maintain a $5,000 to $25,000 operating reserve here as an emergency cushion — liquid enough for same-day access, earning dividends the entire time. The account is insured by the NCUA up to $250,000 per member per ownership category, and business accounts held under a separate EIN receive their own coverage independent of the owner's personal accounts.
For businesses holding larger reserves, the Business Money Market account delivers tiered dividend rates that increase with balance. The minimum opening deposit is $2,500. Dividends compound monthly. Six withdrawals per month are included; additional withdrawals are $2.00 each. Check-writing privileges are available for up to three checks per statement cycle.
The tiered structure rewards businesses that centralize cash management at Eglin FCU. A defense contractor maintaining a $150,000 operating reserve earns 3.50% APY on the full balance — substantially more than the national average money market rate of 0.64%. Over 12 months, that rate difference generates roughly $4,290 in additional dividend income. For seasonal businesses in the Destin and Fort Walton Beach tourism corridor, the money market provides a flexible place to park peak-season revenue while maintaining withdrawal access for off-season obligations.
Business share certificates lock in a fixed dividend rate for a defined term. Terms range from 3 months to 60 months. The minimum deposit is $1,000. Early withdrawal penalties apply: 90 days of dividends for terms under 12 months, 180 days for terms of 12 months or longer. Certificates renew automatically at maturity unless you provide instructions during the 10-day grace period.
Certificate laddering is a straightforward strategy for businesses with predictable cash flows. Divide $100,000 into five certificates at 12, 24, 36, 48, and 60 months. Each year, the maturing certificate renews at the current 60-month rate. Within five years, every certificate earns the highest available rate while one matures annually for liquidity. Eglin FCU's current 12-month certificate yields 4.75% APY — locking in that rate protects against future rate declines.
Qualified 501(c)(3) organizations receive a dedicated savings account with no minimum balance, no monthly fees, and the same dividend rate as Business Share Savings. Nonprofit Savings integrates with Nonprofit Checking for automated excess-funds sweeps. Grant funds, donor contributions, and endowment reserves can be segregated into sub-accounts for accounting clarity. Monthly statements include transaction-level detail compatible with standard nonprofit reporting formats.
Automated sweep functionality connects your business checking account to a savings or money market account. Set a target checking balance — $5,000 is a common threshold — and any excess at the end of each business day transfers automatically to the higher-yielding linked account. When checking drops below the threshold, funds sweep back. The result is maximum dividend earnings on every dollar not immediately needed for operations, without manual intervention.
Sweeps execute overnight. There is no per-sweep fee. The only requirement is a linked business checking and business savings or money market account at Eglin FCU. Setup takes five minutes through online banking or at any branch.
| Product | Min. Deposit | APY | Monthly Fee | Liquidity |
|---|---|---|---|---|
| Business Share Savings | $5 | 0.75% | $0 | Unlimited deposits; unlimited in-branch withdrawals |
| Business Money Market ($2.5K-$24.9K) | $2,500 | 1.50% | $0 | 6 withdrawals/mo included |
| Business Money Market ($25K-$99.9K) | $2,500 | 2.75% | $0 | 6 withdrawals/mo included |
| Business Money Market ($100K+) | $2,500 | 3.50% | $0 | 6 withdrawals/mo included |
| Business Certificate (12-month) | $1,000 | 4.75% | $0 | Fixed term; early withdrawal penalty applies |
| Business Certificate (24-month) | $1,000 | 4.50% | $0 | Fixed term; early withdrawal penalty applies |
| Business Certificate (60-month) | $1,000 | 4.25% | $0 | Fixed term; early withdrawal penalty applies |
| Nonprofit Savings | $0 | 0.75% | $0 | Unlimited; integrates with Nonprofit Checking |
APYs accurate as of April 2026. Rates may change after account opening. Dividends compounded monthly. NCUA insured up to $250,000.
For information on federal deposit insurance coverage for business accounts, visit the National Credit Union Administration.
Four products: Business Share Savings ($5 minimum, 0.75% APY), Business Money Market (tiered rates from 1.50% to 3.50% APY starting at $2,500), Business Certificates (3 to 60 months, up to 4.75% APY at $1,000 minimum), and Nonprofit Savings (no minimum, 0.75% APY for 501(c)(3) organizations). All accounts are NCUA insured up to $250,000.
Tiered rates: $2,500-$24,999 earns 1.50% APY, $25,000-$99,999 earns 2.75% APY, and $100,000+ earns 3.50% APY. Dividends compound monthly and credit on the last business day of the month. Rates are variable and may change after account opening.
Yes. All business deposit accounts at Eglin FCU are federally insured by the NCUA up to $250,000 per member per ownership category. Business accounts held under a separate EIN receive independent coverage from the owner's personal accounts — the same protection level as FDIC insurance at banks.
Sweep accounts automatically transfer excess checking funds into a linked savings or money market account at end of day. Set a target checking balance and excess moves overnight. When checking dips below threshold, funds return automatically. No per-sweep fee. Setup requires linked business checking and savings accounts at Eglin FCU.
Business accounts require membership verification and documentation: EIN or SSN, articles of incorporation/organization, business license, and ID for authorized signers. Initiate the process by calling (850) 862-0111 or visiting any branch. The $5 share savings deposit can be funded at opening.
Free business checking with 250 transactions/month, ACH origination, and positive pay.
Lines of credit, commercial real estate, equipment financing, and SBA programs up to $3M.
Personal and business certificates with fixed rates from 3 to 60 months.
Full overview of Eglin Federal Credit Union products, rates, and membership.
Eglin FCU