Business Savings

At Georgetown Bank, a Division of Salem Five Bank, we treat our business customers as our partners. As trusted financial partners, we offer products and services that will help your business thrive. Whether it’s maximizing your return on excess cash or helping to reduce your tax burden, we offer solutions that our valued business customers not only want, but need.

 

Business Money Market+

Don’t let your cash reserves sit idle—with the Business Money Market+ account, your excess balances can earn highly competitive interest while remaining accessible in case they’re needed.

In addition to competitive rates, the Business Money Market+ account comes with the exceptional customer service you’ve come to expect from Georgetown Bank.

Click here to view our current rates >

 

Simplified Employee Pension Plan (SEP)

What is a Simplified Employee Pension plan?

A SEP is a retirement plan established by an employer. Each year, the employer can contribute a certain percentage of each eligible employee’s compensation directly to their traditional IRA. A business owner, whether incorporated or not, may establish a SEP. Sole proprietors and partnerships can have SEPs even if there are no employees. Dollars contributed on behalf of yourself and your employees, within certain limits, are generally deductible as a business expense.