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Agribusiness Savings Accounts

Store your farm's hard-earned cash in a secure account where it can continue to grow.

A savings account can be the perfect partnership for your Magnifi Financial agribusiness checking account. Not only will you be able to store and save money, but you can watch it grow with dividends.
Magnifi Financial has a variety of savings options. Your local Ag Banking Officer will help determine the right accounts fit for your farm's finances.

Rates

Agribusiness savings accounts

Savings Account

A basic savings account fit for everyone and any business.

  • No minimum balance or penalties
  • Earns dividends
  • Access account information and transfer funds using internet or mobile banking
  • Can be used for overdraft protection on your Magnifi Financial checking account

Calculate Your Savings

Initial Investment (optional):
Deposit Frequency:
Deposit Amount:
Annual Interest Rate:
Number of Years:
Future Value:
Interest Earned:

*Calculator provides general estimations only. Inconsistencies may occur with the use of the calculator and the outcomes are not credit guarantees. For specific payment and interest information, please contact us.

Grow your money with a money market account.

Money Market

It's a savings account with higher dividends! The more you deposit, the higher your return.

  • Seven rate tier levels that earn you higher dividends as you deposit more money
  • $2,500.00 is required to open an account, that balance does not need to be maintained
  • No monthly fees or penalties
  • Can be used for overdraft protection on your Magnifi Financial agribusiness checking account
  • Withdraw funds at anytime without losing dividends (unless the share account is closed before the end of the month)

Platinum Money Market

If you have a Magnifi Financial Business Platinum Checking account, you have access to the Platinum Money Market account with even higher tiers of savings rates. $10,000 is required to open this account, but that balance does not need to be maintained.

Health Savings Account

Help ease the pain of health care costs for your employees. Make tax-free deposits for qualified medical expenses on behalf of your staff.

  • Open to individuals and families covered by a high-deductible health insurance plan
  • Account-holder earns tax-free dividends while saving for future medical expenses
  • No monthly maintenance fees!
  • Easily deposit pretax funds into your employees' accounts
  • Efficiently manage your payroll and contributions through Magnifi Financial's digital banking platform
  • Be competitive in the job marketplace by offering a matching contribution benefit for employees
Saving for health expenses

Certificates (CDs)

You have worked hard to earn your money, now put your money to work for you. Invest your money in a certificate and earn higher dividends while having peace of mind that your money is safe and secure.

  • 3-60 month terms available with fixed, competitive interest rates
  • Earns higher dividends than a savings account - Click for rate information
  • Automatically renewable
  • Dividends compound monthly
  • $500 minimum deposit at account opening
  • Open a new certificate totally online through your digital banking account or from the palm of your hand on the Magnifi Financial mobile app

Individual Retirement Accounts (IRA)

Help your employees save for retirement with tax advantages. Magnifi Financial offers several IRA account options for various needs. Plus, as an agribusiness owner, you're able to deposit money into your employees' IRA accounts as a match or salary deferral.

  • IRA Savings (Traditional IRA, SEP IRA, Roth IRA, Simple IRA, Coverdell Education Savings Account, Roth and Roth Conversion)
  • IRA Certificates
  • Earn dividends based on tiered rate levels; the more you invest, the more you earn! Click for rate information.

Business Savings Rates

Effective Date 1/19/2022

Account Type Dividend Rate APY Min. Opening Deposit Min. Balance to Earn Stated APY
Share 0.05% 0.05% $5.00 $5.00
Savings 0.10% 0.10% $0.00 $0.00
Money Market 0.10% 0.10% $2,500.00 $0 - $2,499
  0.10% 0.10%   $2,500 - $9,999
  0.15% 0.15%   $10,000 - $24,999
  0.20% 0.20%   $25,000 - $49,999
  0.25% 0.25%   $50,000 - $99,999
  0.30% 0.30%   $100,000 - $149,999
  0.35% 0.35%   $150,000+
Business Platinum Money Market 0.10% 0.10% $10,000.00 $0 - $2,499
  0.10% 0.10%   $2,500 - $9,999
  0.15% 0.15%   $10,000 - $24,999
  0.20% 0.20%   $25,000 - $49,999
  0.25% 0.25%   $50,000 - $99,999
  0.30% 0.30%   $100,000 - $149,999
  0.35% 0.35%   $150,000 - $249,999
  0.45% 0.45%   $250,000 - $499,999
  0.45% 0.45%   $500,000 - $999,999
  0.45% 0.45%   $1,000,000+
H.S.A. Checking 0.10% 0.10% $0.00 $0 - $2,499
  0.15% 0.15%   $2,500 - $9,999
  0.25% 0.25%   $10,000 - $24,999
  0.30% 0.30%   $25,000 - $49,999
  0.35% 0.35%   $50,000 - $99,999
  0.35% 0.35%   $100,000+
APY = Annual Percentage Rate
Rates are subject to change without notice. Dividends compound monthly.

Get Started

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Contact Us

Fill out our online form with some information about your agribusiness and the products or services of interest. Your local Ag Banking Officer will be in touch within 1-2 business days.

Contact Us

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Locate a Branch

You can open a business account or loan at any Magnifi Financial location. Each location has a designated Ag Banking Officer, but we recommend you call ahead to make an appointment.

Branch Locations

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Call Us

We have a dedicated phone line for business members which will help you reach someone who can help faster and save you precious time.

(833) 267-7321

Click here to learn more about what you'll need for your new account.

Central Minnesota Financial Advisors

Central Minnesota Financial Advisors have all the experience and knowledge of big, national investment firms but are uniquely dedicated to serving the wealth management needs of Central Minnesota.

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*Central Minnesota Financial Advisors Financial Professionals are registered representatives of CUNA Brokerage Services, Inc. Representatives are registered, securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, which is not an affiliate of the credit union. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. CUNA Brokerage Services, Inc. is a registered broker/dealer in all fifty States of the United States of America. FR-3914609.1-1121-1223

CMFA Team

Additional Products and Services for Agribusinesses

Check out all of your other options you can utilize with Magnifi Financial's suite of agribusiness products and services! Our Ag team will work with you individually to ensure you're on track to reaching your farm's goals.

Credit Card

Earn cashback while covering farm expenses.

Checking

Manage cash flow for any-sized farm.

Agribusiness Loans

Achieve your farm goals with a variety of loans.
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