Last Updated: 04/18/2025
Inova Federal Credit Union Business Dividend Checking Account
Unaffiliated
Last Updated: 04/18/2025
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Highlights
Monthly Service Fee
$10(Verified 03/19/2025)
ATM Fee: Out-of-Network (within the U.S.)
$2
Minimum Average Balance to Avoid Monthly Service Fee
$5,000
APY (Annual Percentage Yield)
0.25%(Verified 06/21/2024)
Inova Federal Credit Union Business Dividend Checking Account Review
Inova Federal Credit Union Business Dividend Checking Account is offered by Inova Federal Credit Union, a credit union founded in 1942 and based in Elkhart, IN. Inova Federal Credit Union Business Dividend Checking Account is available in 50 states and Washington, DC.
Key Takeaways
- Higher than average APY. Inova Federal Credit Union Business Dividend Checking Account has an annual percentage yield of up to 0.25%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $5000.00.
- Waivable monthly maintenance fee. Avoid the $10 monthly service charge by maintaining a $5,000 minimum average daily balance.
- Small minimum initial deposit. You only need $10.00 to open an account.
- No ATM fees. Inova Federal Credit Union Business Dividend Checking Account does not charge fees on ATM transactions within its network but there is a fee of $2.00 for out-of-network ATM transactions .
- Bill pay. Pay your bills to practically anyone in the United States when you enroll in Inova Federal Credit Union mobile or online banking.
Inova Federal Credit Union Business Dividend Checking Account Pros & Cons
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Inova Federal Credit Union Business Dividend Checking Account FAQ
Are business checking accounts from Inova Federal Credit Union federally insured?
Yes, your business checking accounts are insured up to $250,000 per share owner for each account ownership category. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.
What APY does Inova Federal Credit Union Business Dividend Checking Account offer?
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 0.25% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inova Federal Credit Union Business Dividend Checking Account offers an APY of 0.25% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $5000.00.
What are the account minimums for Inova Federal Credit Union Business Dividend Checking Account?
Inova Federal Credit Union Business Dividend Checking Account requires a minimum initial deposit of $10.00 to open an account.
| Description | Amount |
| Minimum Initial Deposit | $10.00 |
| APY Minimum Balance | $5,000.00 |
| Minimum Balance to Avoid Monthly Fee | $5,000.00 |
What fees does Inova Federal Credit Union Business Dividend Checking Account charge?
This account charges a monthly maintenance fee of $10.00.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Service Fee | $10.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Paper Statement Fee | Starting at $2.50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ATM Fee: In-Network | Starting at $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ATM Fee: Out-of-Network (within the U.S.) | $2.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NSF Fee | $29.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Overdraft Item Fee | Starting at $29.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Returned Deposit Fee (Domestic) | Starting at $25.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Card Replacement Fee (Standard Delivery) | Starting at $10.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Check Cashing Fee | $3.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Online Bill Pay Fee | Starting at $0.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stop Payment Fee | Starting at $29.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Check Copy | $2.50 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - US Domestic (Outgoing) | Starting at $25.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - International (Outgoing) | Starting at $50.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - International (Incoming) | Starting at $10.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - US Domestic (Incoming) | Starting at $10.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Returned Deposited Check | $25.00 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What features and perks does Inova Federal Credit Union Business Dividend Checking Account offer?
This account includes the following features:
- Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
- Mobile Banking Services - Inova Federal Credit Union Business Dividend Checking Account allows you to manage your money online. This includes depositing checks in your account with your smartphone.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
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Hours of Operation
Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:30PM
Saturday
9:00AM - 12:00PM