As an integral part of the Hudson Valley since 1851, Ulster Savings Bank has built a strong reputation in each of the communities we serve. Our business solutions have been specifically designed and developed with our local small business in mind. Serving as a community bank, we’re working in your favor to offer superior service, local decision-making, and fast answers from people you deal with every day.
From lines of credit to insurance, tax services and even employee benefits, Ulster Savings Bank provides the tools you need to help you achieve all your business goals – and close to home! We are proud to support the people and organizations that work hard to make our community a better place. You deserve a bank that works just as hard for you.
Discover valuable benefits for your business and employees.
Your business relationship with Ulster Savings Bank can take you further. Enhance your business and employee benefit package with discounts on banking services, complimentary consultations, access to informative seminars, comprehensive online tools and much more. Ask us how we can customize a unique plan that’s just right for your business and your employees.Contact Us
Bank at Work
- New account setup
- Workshops and seminars
- Document shredding days
- Benefit fairs
- Automobile VIN etching
- Driver safety course available
- FREE, no obligation quote days
- One FREE business check package (valued up to $100)
- FREE review of insurance and retirement plans
- Additional opportunities to promote your business
- Streamline payroll and possible expense reduction
When employees open a FREE 1 personal checking account with Ulster Savings, they are eligible to receive:
- A FREE thank you gift 2
- $5 for direct deposit 3
- Up to $24 for unused checks from another financial institution 3
- FREE online and mobile banking, bill pay, and access to money management tools
- $5 for choosing online statements 4
- Up to $10 monthly reimbursement of USB/ATM transaction fees (other bank’s withdrawal fees still apply)
- FREE financial consultation, mortgage prequalification and insurance quotes for home, auto and life
- $150 off mortgage closing costs 5
- Access to more than 55,000 Surcharge-Free 6 ATMs worldwide
Checking & Deposit Options
Capital Account Checking
Capital Account checking offers excellent value for the high transaction volume depositor. With our low fees and earnings credit allowance, you hold on to more of your hard earned profits.
Every dollar of your available balance earns credits, which are then applied to offset your maintenance and per-item fees. Any excess credits you earn can be carried over for one additional month. It’s our way of keeping your money working – for you.
Free Business Checking 1
This popular account is designed for businesses with moderate transaction volume.
- Excellent funds availability
- No minimum balance requirement
- No monthly maintenance fee
- FREE business debit card7
- FREE online banking
- FREE bill pay
- All major credit cards serviced
- No hidden fees
- 48-hour settlement of accounts
- FREE evaluation and cost comparison with your current processor
- Technical support 24 hours a day, 7 days a week
- Sweep Services
- Stop Payments
- Automated clearing house
- Balance reporting and alerts
- Bill Payment
Remote Deposit Capture
Convenient for businesses with high deposit volume.
- Excellent funds availability time
- Improved cash flow and working capital
- Expedited funds collection
- Customer purchases checks. Other fees such as NSF, overdraft, sustained overdraft, etc. may apply. See fee schedule for details.
- Value of free gift may be reportable as interest on 1099-INT form. We reserve the right to substitute a gift of similar value. Free gift provided at time of account opening.
- Cash may be reportable as interest on 1099-INT form.
- Limit of one $5 bonus per account. Offer applies to statement savings and checking account holders only. Please allow up to 30 days after e-statement activation to receive your bonus. Bonus will be deposited into your e-statement account. If e-statements are discontinued within 3 months, a fee of $5 will be assessed per discounted e-statement.
- Excludes Home Equity and Home Equity Line of Credit applications.
- No Surcharge Fees at Ulster Savings Bank and Allpoint ATMS applies to Ulster Savings Bank cardholders only. Fees may apply at other ATM locations.
- Usage fee may apply.
Tax & Payroll Services
Take the busy work out of your business. Let us put our experience to work for you.
With all of the hours you put into your business, filing tax returns or doing payroll is probably the last thing you want to do with your time.
Ulster Financial Group, a subsidiary of Ulster Savings Bank, brings you the benefit of having an experienced team of tax consultants and payroll specialists available when you need them.
We work with your business on a year-round basis, helping you stay abreast of changes and complexities in tax and payroll laws, as well as other circumstances that may affect your business. More importantly, you don’t need to spend your time preparing your own tax returns or dealing with payroll!
Tax & Accounting Services
Services We Can Provide
- Small business tax return preparation
- Bookkeeping and accounting
- Corporate, partnership and individual tax return services
Why Ulster Financial Group?
- Local, dependable, affordable
- All client returns are filed electronically with the IRS and New York State
- During tax season, additional evening and weekend appointments are available
Processing payroll can be time-consuming and complicated. We specialize in effective payroll management so you can concentrate on running your business. Join hundreds of local businesses who chose to outsource their payroll to Ulster Financial Group, a subsidiary of Ulster Savings Bank.
Pay Period Services
- Payroll processing and checks (weekly, bi-weekly, monthly, annually)
- Payroll and check registers
- Federal and state tax liability checks of remittances (when due)
- Paycheck delivery options (UPS and courier service in some areas)
- Employee additions and changes, including new hire reporting
Quarterly and Year-End Compliance Processing
- Prepare federal and state quarterly returns (941 employer’s quarterly federal tax returns and NYS 45 quarterly combined withholding, wage reporting, unemployment insurance return)
- 940 federal unemployment tax return
- Employee W-2 and 1099 processing (includes W-3 and 1096)
- Period report forms
- Payroll journals
- Quarterly detail reports
- Special reports and online timesheets (e.g. employment data, insurance-related)
Additional Services Available
- Workers compensation “Pay As You Go”
- Direct deposit
- Check signing
- 401(k)/IRA reporting and processing
- FICA Tip Credit Report
- Health Savings Account processing
- Online reporting and submission
DID YOU KNOW?
- We are endorsed by the Empire State Restaurant and Tavern Association.
- We are a proud member of the American Payroll Association.
- We work with the Council of Industry.
Lending solutions designed specifically for Hudson Valley small businesses.
We strive to understand each customer’s vision of his or her unique business. Our decisions aren’t made from a main location hundreds of miles away, with no understanding of the local issues. Our decision makers live and work right here in your backyard.
With the ability to provide flexibility, our trusted advisors will suggest a course of action, even when other financial institutions may have walked away.
Supporting our local community and businesses for over 162 years – we are here to help – we are here to stay.Contact Us
Business Credit and Lending Options
Business Lines of Credit
When you need cash, credit lines can offer a fast and simple solution. Borrow as you need to keep your business running smoothly with a repayment schedule that you can work with. Our convenient line of credit is attached to the business checking account and no notice is needed to advance the line.
Business Installment Loans
Do you have a special project in mind? Maybe capital improvements or expansion plans? Turn long-range goals and ideas into reality. We even have a special financing program for business acquisition, as well as the purchase or refinance of all types of equipment and vehicles.
Commercial Mortgages and Construction Loans
Ulster Savings Bank provides commercial mortgages for investment and owner-occupied properties. With flexible terms and competitive rates, you will appreciate our approach to developing a customized loan program to meet your specific needs. We can also help you with commercial real estate transactions including purchasing, construction, and refinancing the following:
- Retail property
- Multi-family residential properties
- Mixed-use properties
- Office buildings
We Are Proud to Work With the Following Organizations:
- U.S. Small Business Development Corporation
- U.S. Small Business Administration
- New York Business Development Corporation
- Catskill Watershed Corporation
- Kingston Local Development Corporation
Behind every policy, you’ll find us. Explore coverage options tailored to fit your business.
Discovering that you are uninsured or under-insured too late can leave your business to suffer disastrous consequences. Our highly experienced team will work closely with you to make sure this does not happen.
How? We are independent agents, which means we have access to dozens of national carriers and can shop for the best combination of coverage and price. Whether your business is big or small, we’ll take the time to assess your needs to assemble a package of coverage options customized specifically for you and your business.Contact Us
Ulster Insurance Services, a subsidiary of Ulster Savings Bank, is locally based.
We are proud members of the following organizations:
- Dutchess County Regional Chamber of Commerce
- Greater Southern Dutchess Chamber of Commerce
- Greene County Chamber of Commerce
- New Paltz Chamber of Commerce
- Orange County Chamber of Commerce
- Rhinebeck Chamber of Commerce
- Southern Ulster County Chamber of Commerce
- Southeastern NY Council of Industry
- Ulster County Board of Realtors
- Ulster County Chamber of Commerce
- ABIA – American Bankers Insurance Association
- AHIA – Association of Health Insurance Agents
- Dutchess County Electrical Contractors Association
- IIA – Independent Insurance Agent & Brokers of America
- NAHU – National Association of Health Insurance Underwriters
- NAIFA – National Association of Insurance & Financial Advisors
- PIA – Professional Insurance Agents
- VFWNY – Veterans of Foreign Wars of NY
Our Insurance Services and Solutions
- Workers’ Compensation
- Business Income
- General Liability
- Commercial Auto
- Employer Liability Coverage
- Buy/Sell Agreements
- Directors and Officers Coverage
- Health Savings Accounts (no charge)
- Flexible Spending Accounts (with Debit Card)
- Worksite Voluntary Benefits (employee paid)
- Group Health Insurance
- Group Dental Coverage
- Group Life Insurance
- NYS Disability
Areas of Service
- Not-for-Profit Organizations
- Veterans of Foreign Wars
- Voluntary Benefits to your Employees (employee paid)
- Schools (Public & Private)
- Public Sector – Municipalities, County Government
Personal Banking Services
Discover the right combination of flexibility and accessibility to fit your lifestyle.
At Ulster Savings Bank, we know that not everyone fits into the same mold. That’s why we aim to provide you with an array of alternatives to make your banking experience affordable, simple and convenient! Choose from our personal checking accounts, savings options, and our Freedom Select program to find the perfect fit for your lifestyle.
Supporting our local community and businesses for over 162 years – we are here to help – we are here to stay.Contact Us
Absolutely Free Checking 1
- Free for everyone!
VIP Free 1
- Free checking that earns interest when you add the convenience of direct deposit or Ulster Savings automatic mortgage payment.
Wall Street Checking 1
- A checking account with a higher interest rate on balances of $2500 or more.
Premium 50+ 1
- Are you 50 or over? Enjoy this free option while earning competitive interest.
- A special rewards program of preferred banking services, financial benefits and special values designed for people age 50 and better! (Terms and conditions apply – ask for details.)
- Only $250 minimum to open.
- ATM accessibility to your funds.
Certificates of Deposit
- CD terms range from as short as 7 days to as long as 5 years to accommodate a wide range of financial situations.
- A safe and stable savings option!
- Competitive rates with check writing flexibility.
Health Savings Accounts
- If you have a high deductible health plan and are self-employed or employed by a small employer, you may be eligible for this tax favored savings account.
- A great way to save for vacations or special events.
- Designed specifically for today’s college student, with an ATM card available.
First Home Club
- Affiliated with the Federal Home Loan Bank of New York, The First Home Club is a savings program that can help you secure the funds you need for down payment and closing costs on your first home.
- For every $1 you save in a special account dedicated to your home purchase, you’ll get $4, up to a maximum total grant of $7,500!
- Competitive interest rates for your savings.
FREE Convenient Services
Visit our online mortgage center at ulstersavings.com. Access our free calculators, learn about the loan process through our Question and Answer section.
- Mortgage Loans
- Home Equity Loans
- Construction Loans
Tax Preparation Options
Ulster Savings Bank, Inc. offers a variety of non-traditional products through our subsidiary Ulster Financial Group, Inc. Our tax preparers are available year-round for your convenience!
- Personal Income Tax Preparation
- Estate, Gift & Fiduciary Tax Return Preparation
Our many insurance experts strive to ensure that you get the right price – and the right coverage, every time. Our insurance products available through our subsidiary, Ulster Insurance Services, Inc. include:
- Condo Owners
- Valuable Items
- Identity Theft
- Antique Auto
- Long Term Care
- Guaranteed Issue
- Medicare Supplements
- Customer purchases checks. Other fees such as NSF, overdraft, sustained overdraft, etc. may apply. See fee schedule for details. Bank rules and regulations apply. Minimum opening deposit for Absolutely Free Checking is only $25. All other personal checking accounts require $50. Ask for details. Offer good on personal accounts only; business and corporate accounts do not qualify for these plans.
- Usage fee may apply.
- No surcharge fees at Ulster Savings and Allpoint ATMs applies to Ulster Savings cardholders only. Fees may apply at other ATM locations.