Business Savings

As of May 7th, 2018, Georgetown Bank will become Salem Five Bank, and the products listed below will no longer be available. For more information about Salem Five business savings products, please click here.

 

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.