Business Banking /

Municipal

Account solutions tailored for our community partners

Municipal Deposit Account Options

Municipal Checking

 
  • $50.00 minimum opening deposit
  • $6.00 monthly maintenance fee is waived if you maintain a $35,000.00 average available balance per statement cycle or a combined average available balance greater than $50,000.00
  • Combined average available balance in all deposit accounts held in the same legal name and Tax ID at Mercantile Bank of Michigan is greater than $50,000.00. Qualifying deposit account(s) include any combination of the following business deposit accounts: checking, money market, savings, and certificate of deposit accounts and must reside on the same customer portfolio.
  • Unlimited monthly transactions
  • Unlimited monthly cash deposit allowance
  • Unlimited incoming and outgoing wire activity
  • Tiered interest rate

Service charges are subject to change

Municipal Certificates of Deposit (CDs)

 
  • $500.00 minimum opening deposit
  • Automatic renewal standard for your convenience
  • Flexible maturities range from 30 days to 60 months
  • Subject to an early withdrawal penalty when principal is withdrawn prior to maturity
  • Savings options that comply with Public Act 20 to ensure deposits are safe and secure
  • The interest rate and annual percentage yield on the account will be determined on the day the deposit is accepted

Fees could reduce earnings on the account

 

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