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Member Business Accounts and Fee Schedule

Effective - 08/23/2022

Business Share Savings Account
Par value of a Membership Share $0.01
Minimum Opening Deposit $0.01
Dividend period Monthly
Variable Rate Dividend Compounded monthly and credited monthly
Dividend Rate May change daily
Minimum balance required to earn Annual Percentage Yield None
Monthly electronic statement Free
Online account access - SRP Online and SRP Mobile Free
24 hour audio response system - TYME Line Free



Business Term Share Certificate
Minimum deposit to open and earn Annual Percentage Yield $500.00
Rate for term of Share Certificate Fixed
Dividend periods Compounded and credited
Renewal at prevailing rate for new term Automatic
Grace period for withdrawal at maturity on Share Certificates with terms 3 months or more 10 days
Early withdrawal on Share Certificates with a term of 1 year or less 90 day penalty 
Early withdrawal on Share Certificates with a term of more than 1 year 180 day penalty



Business Checking - Non Interest Bearing; Non-Analyzed
Access Checking  
Minimum opening deposit $100.00
Monthly service fee (waived with 5 debit card transaction/month or business credit card) $5.00/month
Activity fee (assessed after 150 staff-assisted transactions/month) $0.25/item
Premier Checking  
Minimum opening depsit $0.00
Monthly service fee (waived with cumulative business loan/credit card balance of $150,000) $15.00
Activity fee (assessed after 300 staff-assisted transactions/month $0.25/item
Non-Profit (must provide tax exempt designation document from IRS)  
Miniumum opening deposit $100.00
Monthly service fee $0.00/month
Activity fee $0.00/item
Monthly Electronic Statements Free
Online account access - SRP Online and SRP Mobile Free
24 hour audio response system - TYME Line Free




Miscellaneous Fees
Check Order Fees Price varies depending on style
Coin Collecting Machine Usage 5% of coin counted
Collection Item Fee $40.00
Statement copies (per statement) $2.00
Account Printout $2.00
Stop Payment Order Fee (per check, bill payment, or item) $35.00
Non-Sufficient Funds Fee (per item) $35.00
Overdraft Protection Transfer Fee from Savings Account (per transfer) $2.00*
Copy of Cleared Check Fee (per check) $1.00
Photo Copy of Bill Payer Payment $3.00
Research Services Fee per hour $25.00
Returned Item Fee (items deposited, returned unpaid) $20.00
Unauthorized ACH Return $5.00
Account Reopen Fee (accounts voluntarily or involuntarily closed within 12 months) $10.00 per occurence
Share Reopen Fee (accounts voluntarily or involuntarily closed within 12 months) $10.00 per occurence
Guaranteed Funds Check $5.00
Non-member Guaranteed Funds Check $10.00
Safe Deposit Boxes (annual) $22.00 to $80.00
Wire Transfer Fee (outgoing or incoming) $20.00
Legal Process (tax, levies, garnishments, etc.) $50.00 per occurrence
Inactivity Fee (60 months without activity) $50.00 per member
Incorrect Address Fee (Charged beginning at the end of the month following US Post Office notification of incorrect address) $5.00 monthly
Counter Check Fee (sold in four-check increments)(Fee assessed after initial supply of counter checks issued) $2.00
Tamper Proof Night Depository Plastic Bags (an initial supply of 50 bags at account opening - free) $25.00 for 100 bags
Night Depository Key (2 keys issued at account opening - free) $10.00 for a lost or additional key
Business Check Card Transaction Fee (non SRPFCU ATM) $1.00
Paid Business Check Card Receipt Copy $5.00
Business Check Card International Service Assessment Fee 1% of converted transaction amount
ATM Withdrawal Limits with a Visa Business Check Card (from ATM or a PIN Based point of sale cash back transaction) $1,000 Daily
Visa Business Check Card Limit $3,000 Daily

*Fee is imposed for overdrafts created by checks, in-person withdrawals, ATM withdrawals or by other electronic means.


Credits To Accounts For Member Deposits And Business Day Disclosure

The Credit Union's daily cut-off time: All deposits or transactions received after the time we close for business on a day when we are open or received after we open our night depository, or received on a day on which we are closed for business, will be treated as if received on the next business day that we are open unless differently disclosed at depository.

The Credit Union's daily cut-off time for Uniform Commercial Code Funds Transfers: Any dollar amount may be transferred on Monday, Tuesday, Thursday, or Friday, until 4:00pm or Wednesday until 11:00am on a business day. Any request for a transfer after this time will be processed on the next business day we are open.

The Credit Union's business day disclosure: Our business days are Monday through Friday, excluding holidays. Our night depository is opened at 8:30am daily. Deposits made after 8:30am or on a day we are not open will be processed on the next business day unless differently disclosed at the depository.

Stop Payment Orders: The Credit Union will not be obligated to take any action on a valid and appropriate Stop Payment Order until after recorded on your account. you may notify us by mail, telephone, electronically, or in person. Any such instruction must be given to a teller, member service representative, or branch manager of the Credit Union. A SPO will not be valid and binding on us unless your SPO includes your account number, the number and date of the written instrument, the name(s) of the payee(s), and the exact amount of the instrument. (Additional SPO information is disclosed in the Business Membership Agreement)

Electronic Funds Transfer Services: Limitations, Fees, and Other Important Information

Transaction Limits
Daily ATM Withdrawal Limits (from an ATM or a PIN-based point-of-sale cash back transaction with your Business Check Card) $1,000 per day
Daily Visa Business Check Card Point of Sale (POS) Limit $3,000 per day
Daily Cumulative Limit (Check Card and ATM withdrawals) $3,500 per day


Networks Available for EFT Transactions: PLUS, STAR, CIRRUS/MasterCard, American Express, Visa Net, EBT (all states)
Note: The owners of non-Credit Union ATM's may charge fees, and any such fee will be paid from your account. These fees are generally called a surcharge.
Online Transaction Processing: Generally it will take 2 - 5 days to process a transaction.

Canceling a Bill payment Transaction and Your Stop Payment Right: Once you have setup a bill payment, you can delete the payment, revise the amount, or the due date until the payment is showing processed. Once the payment is in the processed status, you must contact the Credit Union at (803) 278-4851 during regular business hours to make these changes. After business hours you may contact a representative for the Credit Union at 1-888-289-9097, Monday - Friday, between 7:30am EST and 2:30am EST. There is a fee for stopping payment after the payment has been processed. Payments are typically moved to a processed status at or about 3:00pm EST 1 - 5 days prior to the date you schedule in the Bill Payment system as the Deliver By date.

Stop payments and reissues for check payments will be accepted beginning five (5) business days after the date the payment processing began. In situations where it is apparent the payment is going or has gone to the wrong address, wrong payee, etc., we will accept stops and reissues immediately. Electronic payments cannot be stopped. The stop payment fee will be applied whenever any bill payment that is not cleared. The stop fee will not be assessed if the payment is stopped by us due to a processing error, the payment was not posted by the payee even though the payee address was correctly submitted by you, or if the payment check was lost in the mail.

Inquiries, Questions or Reporting Lost or Stolen Cards, PINS, etc.: Telephone or write to us at SRP Federal Credit Union, PO Box 6730, North Augusta, SC 29861, (803) 278-4851 or Toll Free (800) 237-9829. Call (888) 289-9097 for Online Bill Payment tracing and inquires.

After business hours call the appropriate toll free number listed below:

  • (866) 559-4717 to report a lost or stolen Visa Debit Card
  • (800) 991-4964 to report a lost or stolen Visa Credit Card