Welcome to Upper Peninsula State Bank

Business Banking

Business Checking | Business Savings | Business Loans | Other Business Services

Business Checking

Regular Business Checking
This account is designed for our corporate customers. All charges to this account are offset by an earnings credit, which is calculated using the daily collected balance. The monthly service charge is $4.00. There is a charge of .10 for each check written .25 for each deposit made and .10 for each check deposited. 

NOW Business
Non-corporate businesses can earn interest with this checking account. The monthly service charge is $4.00. There is also a .12 charge for each check written .25 for each deposit made and a .10 charge for each check deposited. 

Public Fund NOW
Public funds and non-profit organizations can earn interest with this checking account. There is no monthly service charge and no minimum balance is required. 

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Business Savings

Business and Public Savings
No minimum balance is required. Interest is earned on the daily collected balance, compounded and paid semi-annually. This account is limited to six pre-authorized transactions per month, but offers unlimited transactions in person.

CD's and IRAs are available with different terms and interest rates to meet every investor's goals. The insured deposits are a safe and convenient way to manage cash flow.

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Business Loans
For over 100 years, Upper Peninsula State Bank has been providing financing for economic development of Upper Peninsula businesses. Our business relationships have ranged from start-up activities to generations of progress. See how one of our Commercial Lenders can help you.

Term Financing
Amortizing loans are available for a variety of purposes, including acquisitions, permanent working capital, and equipment financing. Annually renewable lines of credit are available with the option to convert the outstanding balance at the end of each year to a term loan with an amortization ranging from five to seven years.

Commercial Real Estate
Commercial mortgages are available for new construction, acquisition and refinancing purposes. Construction loans run from twelve to eighteen months with the option to convert to a term loan upon completion of the project. Term loans generally amortize from fifteen to twenty years.

Commercial Line of Credit
Working capital lines of credit are provided on a revolving basis and are annually renewable.

Government Programs
These programs often benefit businesses in the form of lower down payments, smaller monthly payments, and long term fixed interest rates. These programs, available through the U.S. Small Business Administration and local community development corporations, allow us to creatively tailor a financing package to fit the needs of the borrower.

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Other Business Services

Business Credit Card

ATM/Debit Card
Need cash and the bank is closed - use one of our conveniently located ATM machines 24-hours a day, 7-days a week with no fee attached. Our Debit Card can be used like the ATM Card and also anywhere a VISA Card is accepted. For more information please contact any customer service representative.  Chip Card Information.

VISA® Account Updater
VISA's Account Updater is a service participating merchants can use to retrieve cardholder account changes, like new debit card numbers and expiration dates, to ensure as little disruption as possible for your card-on-file and automated payments.  Frequently Asked Questions about VISA Account Updater.

Night Deposit
Use our night deposit service for those times that the bank is closed and you need to make a deposit or loan payment. Contact any customer service representative to acquire a lockable night deposit bag.

ACH Service
This is a great service for businesses that offer payroll deduction and direct deposit to their employees.

Overdraft Protection
No one wants to be overdrawn in their accounts, that is why for those times at Upper Peninsula State Bank we offer a little "peace of mind". Overdraft Protection can be a transfer from Savings to Checking or in the form of a loan that would be advanced automatically. Stop in or call one of our customer service representatives or any officer to learn more.

Safe Deposit Boxes

Merchant Credit Card Services
These services are provided to our customers through Elavon Financial Services.  We offer competitive pricing and ease of implementation.

Wire Transfers

Money Orders / Cashiers Checks
You may purchase money orders for up to $500.00 and cashiers checks for any amounts.  A small fee is charged for this service. 

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