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Business Checking

Our business checking accounts are designed with your business in mind. If you have a small to mid-sized business, our checking accounts offer the conveniences you need, with many low- or no-cost fees for servicing.

 

Learn more about resources for small businesses impacted by COVID-19.

Enterprise Checking

Our business checking accounts are designed with your business in mind. If you have a small to mid-sized business, our checking accounts offer the conveniences you need, with many low- or no-cost fees for servicing.

Enterprise Checking* is a low-cost account designed for businesses with more than 150 transactions per month and/or larger-than-average balances.

  • Monthly Service Fee: $6.00
  • Minimum to Open: $2000
  • Deposit Transaction Fee: $0.50
  • Withdrawal Fee: $0.20
  • Online Bill Pay (per month): $5.50
  • Online Bill Pay after 15 (per bill): $0.55
  • Free ATM Withdrawals: 8
  • Online Banking: FREE
  • Bank by Phone: FREE
  • Business Check Card: FREE

*Fees may be offset by an earnings credit. Interest paid on checking account balance above $2,000.00. Earnings Credit- 90% of average collected monthly balance based on the prior 3-month Treasury Constant Maturities rate as published in the Federal Reserve Statistical Release.

High Yield Sweep Checking

This account is an interest-bearing checking account that aggregates all of your business accounts to earn maximum yield. It is designed for business owners who need multiple checking accounts to keep income streams and deposits separate, but connected by a master account that allows them to transfer between their accounts with no fee – and pays interest on the combined balance.

So, with Oklahoma Central’s High Yield Sweep Checking, you can link all of your deposits into one account, plus:

  • Earn higher interest on deposits from multiple accounts
  • Manage internal transfers between accounts without fees
  • Have a zero balance minimum in regular business accounts

Fees:

  • Monthly Service Fee: FREE for balances of $10,000, $20.00 for balances less than $10,000
  • Deposit/Transfers Between Internal Accounts: FREE
  • Withdrawals (checks, ACH and point of sale): $0.50
  • Business Check Card: $5.00

Venture Checking

Our business checking accounts are designed with your business in mind. If you have a small to mid-sized business, our checking accounts offer the conveniences you need, with many low- or no-cost fees for servicing.

Venture checking is a free account for businesses with less than 150 transactions per month.

  • Minimum to Open: $100
  • Free Transactions: 150
  • Online Bill Pay (per month): $5.50
  • Online Bill Pay after 15 (per bill): $0.50
  • Free ATM Withdrawals: 8
  • Online Banking: FREE
  • Bank by Phone: FREE
  • Business Check Card: FREE

COVID - 19 Response Programs:

Oklahoma Central is offering relief in some cases for business loan members to help small businesses with their payroll and other business operating expenses including two programs intended to encourage small businesses to keep their employees, customers, and themselves healthy.

Paycheck Protection Program

Small businesses and eligible nonprofit organizations, Veterans organizations, and Tribal businesses described in the Small Business Act, as well as individuals who are self-employed or are independent contractors, are eligible if they also meet program size standards.

Under this program:

  • Eligible recipients may qualify for a loan up to $10 million determined by 8 weeks of prior average payroll plus an additional 25% of that amount. Loan payments will be deferred for six months.
  • If you maintain your workforce, U.S. Small Business Administration (SBA) will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.

To learn more about the Paycheck Protection Program, visit the SBA site.

To apply, email CommercialServices@OklahomaCentral.org.

Economic Injury Disaster Loans and Loan Advance

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.

The SBA's Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

To apply for a COVID-19 Economic Injury Disaster Loan, click here.

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