With all the competition in the marketplace, both locally and nationally, it is more important than ever to remind everyone of the commitment Nutmeg has to our local businesses. Small businesses are what make our communities thrive. While small business owners are feeling very optimistic about the economy, they are also very aware of the many challenges they face. We work hard at Nutmeg to make a positive difference for businesses by creating lots of different ways to make running a business easy!
How Nutmeg Helps Small Business Owners
Nutmeg has a long history of working directly with businesses, stemming all the way back to our original partners at Southern New England Telephone. In the past 15 years or so, Nutmeg has focused more and more on smaller businesses in the area. We are constantly working to improve all our business services to serve our local partners.
Business Account Services
We offer a very competitive range of deposit services for business owners. Our business checking account has little qualifications and no minimum balance fees or monthly maintenance fees. The options for saving money are also extremely competitive. Our certificate of deposit (CD) rates for businesses are the same as the consumer rates. This allows businesses to build their savings as aggressively as consumer members can!
Our business loans are designed to serve smaller businesses as well as larger ones. Loan amounts can start as low as $10,000. We offer term loans, lines of credit, business credit cards, commercial vehicle and real estate loans. All our business loan decisions are made locally and quickly!
Electronic and Merchant Services
Nutmeg also offers many technology based services, such as payroll processing and card payment processing. We also offer a wide range of electronic services, such as online and mobile banking with electronic check deposits, and much more.
Supplemental Employee Benefits
Many business owners take advantage of our insurance services. Our insurance policies are managed outside of employee payroll, so there are less administrative headaches for the owner to deal with. We bring these services right to the workplace and handle all the enrollment and payment details directly with the employee, saving the business owner countless hours of work.
How Nutmeg Helps Small Business Employees
Saving and Spending Accounts
We deliver our services right to the workplace to assist a business’s staff. Our More-Than-Free Checking account that offers cash back on purchases and ATM fee refunds is just the beginning. We open these accounts right on site at the business. We also offer IRAs with some of the MOST COMPETITIVE RATES around! For those employees who have high deductible health insurance plans, we also offer an excellent fee-free HSA Checking Account.
As I’m sure you know, we all need to borrow money at times throughout our lives. We bring a loan representative to the business to educate and assist employees with loans ranging from home and auto, to personal loans or credit cards. We can even do the application right at the business with the employee.
As mentioned above, we offer insurance services directly to employees. We offer a wide variety, including Home & Auto insurance, Accident Insurance and Life Insurance. Some of our employee groups find great value in the Accident policy, especially for workers who are active throughout the day, like senior care workers and people who work in shipping or manufacturing.
We frequently do staff workshops to educate people about important topics like building credit, first time home buying, or managing student loans. We also have a very diverse workforce and can provide these workshops in Spanish and other languages. We tailor these workshops to the specific needs of the employees, which are often very different depending on the nature of the business.
We are proud to work with so many businesses in the community. Whether you are the owner of a business or an employee of one, I’m certain you and your family will find value in banking with us. I encourage you to invite us to visit your business. Please feel free to reach out to us anytime at 1.800.526.6933 or 860.513.5000.
President & CEO