Gesa Credit Union Launches Five New Commercial Banking Deposit Products
November 16, 2023
Gesa, based in Richland, Washington, recently expanded its commercial banking product line with five new specialty deposit products created to address the diverse needs of its commercial members across Washington, Oregon, and Idaho.
The launch is designed to provide businesses and government agencies with more choices to serve their commercial banking needs. Gesa will service these new specialty deposit accounts through their dedicated commercial banking team and commercial banking contact center.
The new products join Gesa’s diverse portfolio of business deposit products, treasury management services, and commercial loan offerings. They are specifically designed to assist businesses such as law firms, real estate agencies, property management companies, and government agencies. They include the following:
- Business IOLTA (Interest on Lawyer’s Trust Account): Available in Washington, Portland, and Kootenai County, this interest-bearing trust account is exclusively for lawyers and law firms and allows client funds to generate interest for the state’s Legal Foundation.
- Business IRETA (Interest on Real Estate Trust Account): Available in Washington and Portland for real estate brokers, this account earns interest on pooled client funds, which are used to fund housing programs.
- Business RETA (Real Estate Trust Account): For Kootenai County real estate brokers, this non-interest account is designed for depositing pooled client funds.
- Nonprofit Interest Checking: This checking account with tiered interest rates caters to nonprofit organizations across Washington, Portland, and Kootenai County.
- Municipality Interest Checking: A checking account with tiered interest rates for Washington commercial members.
“Over the last 15 years, Gesa has been fortunate enough to create long-lasting relationships with businesses of all sizes across the Northwest,” said Don Miller, President and CEO of Gesa Credit Union. “We understand that there are unique needs and challenges that small and mid-sized businesses face, and today’s product launch is designed to address that. At Gesa, we believe that with the right tools and resources, we can help businesses and government agencies with their commercial banking needs.”