How a Money Market Savings Account Can Benefit Your Florida Business

Jump-To:

• Earns Interest
• Helps Save for Taxes
• Emergency Preparation
• Overdraft Protection
• NCUA Insured
• Add to Retirement
• Can Boost Credit Rating
• Benefits at Community First

It is recommended that a business aims to save at least 10% of its monthly profits and keep at least 6 months of operating expenses in reserve, but what is the best way to save while keeping enough cash available for emergencies, sales declines, and other events?

A business money market offers a healthy balance of liquidity and investment, and it may be the perfect solution for your Florida business. Discover the key benefits of a business money market account.

Earns More Interest

When in a business money market account, your money will work harder for you, earning interest at a rate higher than typical savings accounts. Most accounts offer a tiered rate, meaning your funds will earn more interest as the balance they grows. This allows your business funds to grow steadily and provides a passive income stream that can be reinvested or used for other needs. According to NerdWallet.com**, the best business money market accounts for 2025 offer interest rates of 2.00% or higher. Community First offers a competitive rate of up to 4.50% APY* as of July 28, 2025.(Rates change periodically.) Check current Money Market rates at Community First here.

Encourages Saving for Taxes

It is not uncommon to run into surprises during tax time, especially when you’re just starting out. By keeping money in a high-yield business savings account, business owners are more motivated to save for taxes throughout the year. This makes meeting tax obligations easier and helps avoid surprises or shortfalls in tax season.

Bonus: You can alleviate some of the stress of tax season when you open a business checking account. A dedicated business checking account streamlines your finances and makes it easier to separate and account for business transactions such as rent or loan payments, payroll, and more. Plus, these accounts at Community First offer protections like Positive Pay, which allows business owners to deter and prevent fraud by rejecting suspicious checks and ACH payments.

Keeps Your Business Prepared for Emergencies

As every Floridian knows, summer temperatures can overwork HVAC systems. Have you considered how you will manage an emergency repair to an AC unit, or another unexpected expense? A well-funded money market account provides instant access to cash, ensuring your business is prepared for emergencies like equipment breakdowns, urgent repairs, and other unforeseen expenses that may otherwise halt normal business operations.

Cash reserves kept in a business money market can also smooth out cash flow volatility and ensure that funds are available when needed, such as for payroll, inventory, or seasonal expenses. Whether your food truck business or boutique has sales lulls in winter or summer, you can be prepared to maintain operations when you have enough funds in your business money market.

Comes with Overdraft Protection

Money market accounts linked to other business accounts often offer overdraft protection by covering shortfalls during unexpected transactions. This can prevent bounced checks, costly fees, and disruptions to business cashflow. This extra layer of protection can provide peace of mind.

NCUA Insured

The funds in your business money market account are NCUA insured. The Share Insurance Estimator** at the NCUA’s consumer website, MyCreditUnion.gov, can be used to calculate the insurance coverage of many types of share accounts held at federally insured credit unions, including business accounts.

Bonus: A business bank account offers protections that keep your business and personal finances safe and separate. Many small business owners continue operating under their personal bank accounts because they are unaware of the protections that business accounts offer.

Can Add to Retirement Funds

By earning interest over time and budgeting surplus funds efficiently, your business can use its money market savings to add to retirement funds for owners or employees. This not only helps with long-term financial planning but also supports employee retention and satisfaction.

Can Improve Business Credit Rating

Maintaining a business money market account can indirectly help your business’s credit rating by providing a financial cushion that allows you to never miss loan payments or make late payments, signaling to credit reporting agencies that you are operating your business with sound financial health. A strong credit profile makes it easier to secure loans or financing at favorable rates in the future. Learn more** about how your business can improve its credit rating.

The Unique Benefits of a Community First of Florida Business Money Market Account

Discover what you will get with a Community First business money market savings account that you may not find at other banks or credit unions.

• No service fees with a maintained account balance of just $100
• Start earning interest with a balance as low as $1,000
• The ability to set up automated recurring transfers that save you time and money. (Account transfer and withdrawal limitations apply)
• Overdraft protection coverage for ACH/checks and ATM/debit card transactions
• Tiered interest rates that increase as your balance grows

Commercial Services

The Community First Commercial Services Team has decades of experience in Northeast Florida and beyond, delivering individually crafted solutions specifically for complex and evolving business needs. Discover competitive rates on business savings accounts and contact us when you’re ready to take your banking to the next level.

Free Business Resources

If you are thinking of starting a business, Community First also offers free business resources that help you navigate naming and registering your businesses, deciding on a business structure that works for you, how to find funding, and much more. 

*APY – Annual Percentage Yield. The required minimum opening deposit for the 4.50% APY is $750,000. Rate is accurate as of 7/28/2025 and may change after the account is open. Interest compounded monthly. The current tiers and rates on the Business Money Market account balances $750,000 or greater – 4.50% APY, $500,000 - $749,999,99 4.25% APY, $250,000 - $499,999.99 4.00% APY, $100,000 - $249,999.00 3.75% APY, $50,000 - $99,999.99 3.25% APY, $25,000 - $49,999.99 0.75% APY, $10,000 – 24,999.99 .70% APY, $2,500 - $9,999.99 .65% APY, and $1,000 - $2,499.99 .60% APY.

All new accounts are subject to approval and membership eligibility required. Please visit our website at www.communityfirstfl.org/connect/become-a-member or call 904.354.8537 for more information on membership requirements. Fees may reduce earnings. Restrictions may apply. Product offers, terms, and other information provided herein are subject to change without notice.

**All information contained in this blog is for informational purposes only. The Community First Credit Union of Florida (“Credit Union”) makes no representations as to the accuracy, completeness, suitability, or validity, of any information. The credit unionCredit Union is not responsible for any errors, omissions, or any losses, injuries, or damages arising from its display or use. All information is provided AS IS and with no warranties and confers no rights.

The Credit Union is not responsible for material that is found through non-credit union links posted on this blog site. Ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.