Lake Elmo Bank

business checking
Free Online Banking, upon enrollment, is available to all business customers.  Please refer to our Rate Chart for current interest rates.

classic checking

Designed for businesses with high transaction volume.

  • No minimum balance requirement.
  • Monthly maintenance fee of $12.00.
  • Per item fee of $.16 on any check, debit, deposit ticket or credit. Non-bank deposit item fee of $.09 each.
  • On-us deposit item fee of $.05 each.
  • Charges will be offset by an Earnings Credit which is calculated on the Investable Balance.

Sole proprietors may earn interest on this account if preferred over Earnings Credit.  Investable balance calculated after reserve requirement.

performance checking

Designed for businesses with moderate transaction activity.

  • Average ledger balance of $1,500.
  • Monthly below balance fee of $10.00.
  • 150 checks or debits per month at no charge.
  • 150 deposit items per month at no charge.
  • $.40 charge on checks, debits or deposit items in excess of 150 per month.
  • Monthly statements with images provided.

Sole proprietors may earn interest on this account.

small business checking

Designed for small business and clubs with low transaction activity.

  • No minimum balance required.
  • 50 checks or debits per month at no charge.
  • 50 deposit items per month at no charge.
  • $.40 charge on checks, debits or deposit items in excess of 50 per month.
  • $3.00 paper statement no images - standard.
  • $5.00 paper statement with images - upon request.
  • Free e-statement with images, upon enrollment, requires online banking. 

Click here for our miscellaneous fees.

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