Limited Edition Special Checking Products
Charter Member Checking - Village Checking
- Treasury Tracker
- Prime Money Market Account
- Charity Advantage
These accounts are not always available - we release them to the market in stages.
Be sure to sign up for our specials from the home page, so you are aware of when they are available!
A Baytree Charter Member is a customer whom opened one of the first NOW accounts at Baytree when the bank was founded. This core group of customers will always get the best banking package for their confidence they placed in Baytree from day one.
As a reminder of your benefits if you are a Charter Member, please see the list below.
- No minimum balance requirement
- 25 basic points higher on the NOW rates than regular customers
- Unlimited check writing
- Free standard Baytree checks
- A no annual fee ATM card, no transaction fees within the STAR no fee network
- No fee On-Line banking
- No fee Bill Pay
- Signers on the account receive .25% higher rates on Certificates of Deposit
- Debit card available with credit approval from VISA
Please check with personal banking for currents APYs on this product.
Annual Percentage Yield (APY) assumes interest remains on deposit: fees or withdrawals may reduce earnings. Statements are generated monthly on the 15th. We may change the interest rate and annual percentage yield of each tier of this account daily without notice. Interest begins to accrue for the deposit of non-cash items on the business day that the credit is received. Interest begins to accrue on cash items the business day they are deposited. Interest on the account is compounded monthly and paid monthly. If you close the account before the interest is paid, you will not receive the interest. We use the daily balance method to calculate interest on deposits. This method applies a daily periodic rate to the principal in the account each day. The rate and annual percentage yield of the highest rate tier for which an account qualifies is applied to the entire principal balance.
Please feel free to call us at (847) 234-8484 with any further questions.
Village Checking
The Village Account is a special checking account available on a limited basis to Lake Bluff residents. It offers some of the best benefits Baytree has to offer. Here are the details
The Village Account is a NOW Checking Account receiving some of the most competitive rates in the area. It is a tiered rate product – the larger your balance, the more you earn on each dollar. Current rates and yields on the Village Account are always higher than our normal rates and yields.
- No minimum balance requirement
- No minimum to open the account
- Unlimited check writing
- Free standard checks
- A no annual fee ATM card, no transaction fees within the STAR no fee network
- No fee On-Line banking
- No fee Bill Pay
- Signers on the account receive .25% higher rates on Certificates of Deposit
- Debit card available with credit approval from VISA
Please check with personal banking for currents APYs on this product.
Annual Percentage Yield (APY) assumes interest remains on deposit: fees or withdrawals may reduce earnings. Statements are generated monthly on the 15th. We may change the interest rate and annual percentage yield of each tier of this account daily without notice. Interest begins to accrue for the deposit of non-cash items on the business day that the credit is received. Interest begins to accrue on cash items the business day they are deposited. Interest on the account is compounded monthly and paid monthly. If you close the account before the interest is paid, you will not receive the interest. We use the daily balance method to calculate interest on deposits. This method applies a daily periodic rate to the principal in the account each day. The rate and annual percentage yield of the highest rate tier for which an account qualifies is applied to the entire principal balance.
Please feel free to call us at (847) 234-8101 with any further questions.
Treasury Tracker Account
The Treasury Tracker Account is ideal for the investor with larger sums of money that wants liquidity while earning recognized market rates. The Treasury Tracker is based off the 90-Day Treasury Bill – a well-known investment tool from which many investment products base their rates. The base rate is equal to the discount rate resulting from the weekly auction of newly issued 90 day Treasury Bills by the US Treasury Department as published at http://www.publicdebt.treas.gov/AI/OFBills.
As the Treasury Bills rise, so will your rate in this account. With the Treasury Tracker Account you will always be receiving a little more than current market rates on your liquid funds. Please check with a personal banker for current rates and APYs*.
What are the terms and conditions of the Treasury Tracker Account?
- This is a NOW checking account with a variable interest rate paid on the entire collected balance in your account based on the 90 Day Treasury Bill. Balances of $10,000 and above earn the T-bill yield plus 25 basis points
- The minimum average monthly balance requirement is $10,000. Balances falling below this amount will earn the 90-Day Treasury Bill yield (with no bonus) and a $15.00 service charge fee will be assessed for the month.
- There is no deposit limit. A personal banker can assist you with titling your accounts for maximum FDIC insurance coverage.
- Your account provides you with all the amenities you can expect from a Baytree account, including:
- Free first order of checks
- Unlimited check writing each month
- Free Debit Card or ATM Card, with no monthly fees or transaction fees when used within the STARnf network. Debit card subject to credit approval with VISA.
- Free Baytree On-Line Banking account access and BillPay. You have may internet charges not related to Baytree.
- A level of personal service unmatched in the Lake Forest/Lake Bluff area
* Annual Percentage Yield (APY) assumes interest remains on deposit: fees or withdrawals may reduce earnings. Statements are generated monthly. The interest rate and annual percentage yield of each tier of this account may change weekly without notice. Interest begins to accrue for the deposit of non-cash items on the business day that the credit is received. Interest begins to accrue on cash items the business day they are deposited. Interest on the account is compounded monthly and paid monthly. If you close the account before the interest is paid, you will not receive the interest. We use the daily balance method to calculate interest on deposits. This method applies a daily periodic rate to the principal in the account each day. The rate and annual percentage yield of the highest rate tier for which an account qualifies is applied to the entire collected balance.
Prime Money Market Account
Our newest Money Market Account always delivers a dependable return
tied to the Prime Rate. When the Prime goes up, so do your earnings!
- A safe place to store your investment earnings
- Use as a core cash account for upcoming expenses or purchases
- No rollover or end date to track
- Easy access to your cash, close to home
- On-Line banking available.
- ATM card available for ease of balance inquirey, but not suggested due to the transaction limitations
Some of the highest rates in Lake Forest
$100,000 and over earns Prime less 3.00%
$25,000–$99,999 earns Prime less 3.25%
$0–$24,999 earns 0.25% APY
The Baytree Prime Index Money Market is a money market checking product with a rate structure based on the Prime rate for the life of the account. If the average monthly balance of the account falls below $25,000, a monthly fee of $15 will apply.
Accounts with average monthly balances below $25,000 earn .25% APY.
Personal accounts only.
Money Market rules, as determined by the Federal Reserve apply. No more than six (6) preauthorized, automatic, or telephone transfers may be made from this account to another account of yours or to a third party in any month. And no more than three (3) of these six (6) transfers may be made by check, draft, or debit to a third party. If you exceed these limitations, your money market account may be subject to a fee or be closed. The fee for exceeding transaction limitations will be $20.
*Annual Percentage Yield (APY) assumes interest remains on deposit: fees or withdrawals may reduce earnings. Statements are generated monthly. The interest rate and annual percentage yield of each tier of this account may change weekly without notice. Interest begins to accrue for the deposit of non-cash items on the business day that the credit is received. Interest begins to accrue on cash items the business day they are deposited. Interest on the account is compounded monthly and paid monthly. If you close the account before the interest is paid, you will not receive the interest. We use the daily balance method to calculate interest on deposits. This method applies a daily periodic rate to the principal in the account each day. The rate and annual percentage yield of the highest rate tier for which an account qualifies is applied to the entire collected balance.
Charity Advantage Account
AN ACCOUNT FOR NOT-FOR-PROFIT ORGANIZATIONS AND CLUBS
Benefits of your account:
- Interest-bearing variable rate NOW checking account (91 day Treasury Bill rate)
- No minimum balance
- No monthly service charge fee
- Free wallet-sized checks
- Free checking account for employees of not-for-profit organizations
- Free endorsement stamp
- Free ATM card for deposits only
- Lock box service with monthly service charge fee waived
- Free On Line Banking – fees maybe charged by your Internet provider not associated with Baytree
- Free On-line BillPay
- Cash boxes for fundraising events
- Competitive loan rates for employees (upon credit approval)
- Merchant Credit Card Processing through Baytree Charity Advantage Account
What Baytree National Bank needs to set up your account:
- Two forms of identification from each signer, of which one should be a current driver’s license or state ID. The second form of ID may be an employee issued photo ID, firearms ID, Military ID, United States issued passport or a copy of a current Illinois utility bill.
- Your organization’s 9-digit tax ID number
- Your organization’s articles of establishment or appropriate supporting documentation. You will need to bring in at least one of the following examples:
- Chapter: Charter of Business and Letter from national office indicating names of Chapter President and Secretary
- Society: Letter from the entity with which the Society is affiliated
- Fraternal: Letter from national office stating names of local President and Secretary
- Club: Organized Resolution (Baytree National Bank has a general form that can be used.)
- Current Letter of Good Standing
- Articles of Incorporation (if a corporation)
- Proof of non-profit status (i.e. 501c(3) or 501c(4) documents)
CHARITY ADVANTAGE ACCOUNT - Miscellaneous Items
1. The charitable organization must have a demand deposit account with Baytree National Bank.
2. Bank provides terminal/printer to organization for their event that is usually a one day/night event. Organization needs power source and telephone line connection to operate terminal. A representative from the organization is trained to operate and balance the terminal. A bank employee downloads organization’s name into terminal and trains the representative.
3. Organization’s transactions are automatically deposited as one deposit into the Bank’s designated demand account when the organization balances at end of the event. Deposits are usually credited within 48 hours after being transmitted.
4. The next business day, a bank employee transfers the entire balance from the Bank’s account into the organization’s account, and the bank will asses the appropriate fees and debit the organization’s account as a separate transaction. Charge backs to the organization can still occur several months after the event.
5. The organization must return the equipment to bank the next business day.
6. The organization will be assessed a fee of 2.50% of gross sales, plus .25 cents per transaction over 100 transactions.
