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. There is a monthly service charge is $4.00 along with the following charges: $0.10 for each check written or ACH debit, $0.25 for each deposit made and $0.10 for each check deposited.
This account allows businesses to earn interest on the daily collected balance, compounded and paid monthly. There is a monthly service charge is $4.00 along with the following charges: $0.12 charge for each check written or ACH debit, $0.25 for each deposit made and a $0.10 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.
*There is a charge for personalized checks.
Business and Public Savings
No minimum balance is required. Interest is earned on the daily collected balance, compounded and paid quarterly. This account is limited to six (6) pre-authorized transactions per month, including: internet banking or telephone transfers, overdraft protection transfers and ACH debits.
Money Market Account
You must deposit $1,000.00 to open this account. this account is a savings account with check writing privileges. Interest is earned on the daily collected balance, compounded and paid monthly. A minimum balance of $1,000.00 is required to avoid a $5.00 monthly charge. This account is limited to six (6) pre-authorized transactions per month, including: internet banking or telephone transfers, overdraft protection transfers and ACH debits. A $10.00 per check fee will be charged for each debit transaction in excess of six (6) per month.
Certificates of Deposit
When you open one of our insured CD's, you lock in a rate of interest for the term of your investment.* You must deposit $500.00 to open a CD. There are various terms available to choose from as well as various interest payment options. Interest rates are reviewed weekly. Simply call or stop by for our latest rates.
*Penalty for early withdrawal.
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.
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 (5) to seven (7) years.
Commercial Real Estate
Commercial mortgages are available for new construction, acquisition and refinancing purposes. Construction loans run from twelve (12) to eighteen (18) months with the option to convert to a term loan upon completion of the project. Term loans generally amortize from fifteen (15) to twenty (20) years.
Commercial Line of Credit
Working capital lines of credit are provided on a revolving basis and are annually renewable.
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.
Contact one of our Commercial Lenders to see how they can help you!
SBA Paycheck Protection Program
The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities. Small businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors—are eligible. Businesses with more than 500 employees are eligible in certain industries.
To get started with this process:
1– Download our SBA Paycheck Protection Program Information Packet. This packet contains information about the program, a checklist of documents you will need, a loan calculation sheet, and use of proceeds. If you are self employed, you will need to download and print the Self Employed Calculation Sheet. You may need to reach out to your accountant for copies of certain tax documents.
2– Download and print a copy of the SBA PPP Loan Application. Complete the application and drop it off in the drive-thru at any of our bank offices along with any additional documents you need to submit.
Please call your loan officer with any questions you may have about this program.
In addition to the deposit and loan products and electronic services listed above, we offer other types of products and convenient services to our business customers. Select one of the tabs below for more information!
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.
Mobile Debit Alerts/Consumer Controls
Now the power to protect your Upper Peninsula State Bank debit card is in your hands! Download SecurLOCK Equip from your app store. It is fast and FREE! With SecurLOCK, you can:
- Turn your card off and on
- Control where your cards can be used
- Receive instant alerts
Virtual Payment Options
Enjoy all the benefits of our Debit Card using one of our virtual payment options listed below:
No one wants their account to be overdrawn. That is why at Upper Peninsula State Bank, we offer a little "peace of mind".
Overdraft Protection can be set up to cover those temporary shortfalls in funding needs. Automatically transfer funds from your savings account or use a personal line of credit to keep your checking balance above zero and avoid costly overdraft charges.
Stop in or call one of our Customer Service Representatives or any Bank Officer for more details.
Safe Deposit Boxes
Need a place to store and protect your personal valuables and important papers? We have Safe Deposit Boxes in several different sizes available to meet your needs. Boxes are available at our Escanaba and Iron Mountain Offices.
Money Orders / Cashiers Checks
You may purchase money orders for up to $500.00 and cashiers checks for any amount. A small fee is charged. We do not charge any fee to our Non-Profit Organization customers.
VISA Business Credit Cards
Choose from a variety of VISA cards, each designed to meet your individual financial needs. It's easy to apply. Speak to one of our Customer Service Representatives for more details.
Use our night deposit service for those times that the bank is closed and you need to make a deposit or loan payment.
We also offer Foreign Currency Exchange, VISA Gift Cards, Wire transfers, Notary Services and Signature Guarantees.