Cash Management

cashIt is only natural that major business expenses are incurred in the production of goods or the provision of services. In most cases, a business incurs such expenses before the corresponding payment is received from customers. In addition, employee salaries and other expenses drain considerable funds from most businesses. These factors make effective cash management an essential part of any business’s financial planning. Cash is the lifeblood of a business. Managing it efficiently is essential for success. At Community Resource Bank, we will be there for you every step of the way, offering you a variety of services to assist your business with its daily cash flow.

Sweep accounts

These bank accounts are the easiest way to generate some income from your company’s spare funds; however, they make sense only if the money you’ll earn will be greater than the fees your bank will charge. Community Resource Bank will provide Account Analysis to determine what fees will be charged for the services that will be used with the Bank. Business owners have two types of sweep accounts to choose between:

  • Zero Balance accounts. Think of these as checking accounts with the ultimate in zero balances. Every day, your bank will leave only enough in your checking account to cover those checks that were presented the night before for payment that day. The rest gets swept, quite early, into overnight investments.
  • End-of-day sweep accounts. A safer bet for most small-business owners, these accounts wait until a late-hour cutoff to determine how much to sweep into your overnight investments. Typically their investment yields are 10 to 20 basis points (.1% to .2% of the investment) lower than those offered with controlled investments.

Business Debit Card

The Business Debit Card works just like your checkbook only it’s faster, easier and more convenient than writing a check. Purchase amounts are automatically deducted from your checking account. The card also works as your ATM card. There is no charge for our Business Debit Card, and ATM transactions are free at MoneyPass ATM Locations.

For lost or stolen Debit cards, please contact us at (800)250-8420.

ATM Network

We will not charge an ATM transaction fee when you use an ATM within our MoneyPass network. Our network includes any MoneyPass ATM machines. Use of an ATM outside of this network may result in a transaction fee from us and/or a surcharge from other machine owners. For a list of MoneyPass machine locations, visit ATM Locator.

Reorder Checks Online

To reorder business checks, go online to www.deluxeforms.com, or call (800)328-0304 to speak with a specialist. For security reasons, you cannot change account information, such as your mailing address, online.

Online Credit Card Services

You can access your Elan credit card account 7 days a week, 24 hours a day, by logging in to https://www.myaccountaccess.com/onlineCard/login.do. View your account history or make a credit card payment online. To learn more about our Credit Card products, contact us at 800-250-8420 to speak with a personal banker.

Business Banking Online

With Business Online Banking (link to page), you can view your account information and transfer funds without leaving your office or home. In addition, you will have access to expanded online business cash management services, including ACH originationBusiness Billpay, and wire transfers.

Telebank – 24 Hour Telephone Account Access

Telebank (800)250-8424 provides 24 hour telephone account access for our customers.

  • Transfer funds between deposit accounts
  • Obtain balance information
  • Verify transaction activity
  • Get tax information on interest earned or paid

Other Services

  • Combined checking and savings statements
  • Account Analysis
  • Automatic payments and transfers
  • Business Instant Credit
  • Investments
  • Merchant card processing
  • Merchant Capture
  • Safe Deposit Boxes
  • Personal money orders and cashier’s checks
  • Notary and signature guarantees
  • Night drop deposit services

Other Helpful Links

  • Tammy

    Tammy Eidahl
    Cash Management Specialist

    Email Tammy
    Direct Line: (507) 645-1840
    Toll free: (800) 250-8420 ext 3840