Fiduciary Business Checking
Simple, scalable, and rewarding.1
EARN
2.00% APY2
Managing multiple accounts for clients or estates shouldn’t require repeating the same onboarding process. Whether you’re handling trust accounts, client funds, or multiple entities, we make it easy and rewarding.
- Earn 2.00% APY2: Grow your business funds with a competitive interest rate.
- Dedicated Concierge Support: A single point of contact who understands your structure and needs.
- Easy Onboarding for Multiple Entities: Verify once, then open additional accounts quickly— no redundant paperwork.
- No Monthly Fee at $250K+: Maintain an average daily balance of $250,000 across all account shares to waive monthly fee.3
How it Works
Eligibility4
Licensed professionals or business entities can open a Professional Fiduciary Account with a minimum of $100 in a Primary Business Savings account.
Account Structure
A separate Fiduciary Business Checking Account is established for each client or estate, with no minimum balance required.
Interest Earnings
Each Fiduciary Business Checking Account earns 2.00% APY.
Fee Waiver
Maintain a $250,000 average daily balance across all account shares to waive the $15 monthly fee.
Disclosure
1 Fiduciary Business Account Structure: All Professional Fiduciary Accounts must maintain a Primary Business Savings account with a minimum balance of $100.00. Each client or estate managed under the fiduciary relationship will be established as an additional Fiduciary Business Checking Account within the umbrella membership. There is no minimum balance requirement for these additional shares.
2APY=Annual Percentage Yield. The Fiduciary Business Checking Account will earn a dividend rate of 1.982% (2.00% APY). This rate is variable and is subject to change at any time without notice. Refer to the current rate sheet for up-to-date rate information.
The Primary Business Savings account does not earn dividends.
Average Daily Balance Computation Method: Dividends are calculated using 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 balance in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly dividend period.
Compounding and Crediting: Dividends will be compounded and credited monthly.
3 Monthly Account Maintenance Fee: Professional Fiduciary Account has a monthly fee of $15. To waive the monthly fee, the account must maintain an average daily balance of at least $250,000 across all shares in the account.
Other Fees: Additional fees may apply. For information on current fees, please see our Schedule of Business Service Charges and Schedule of Business Services Charges–Fiduciary Accounts.
4 Eligibility: Professional Fiduciary Accounts at SkyOne Federal Credit Union are available to licensed individuals and business entities engaged in fiduciary or client fund management. Eligible entities include sole proprietorships, professional corporations (PCs), professional limited liability companies (PLLCs), limited liability companies (LLCs), partnerships, law firms, and corporate fiduciaries or trust companies.
Applicants must provide documentation verifying licensure or court appointment, business formation documents, and authorization to open and manage accounts. Personal or non-fiduciary business accounts are not eligible.
Federally insured by NCUA.
