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Northrim Bank

Northrim Bank

Powering Your Business

Let Northrim's flexible, responsive, customized, and customer-first services work for your business.

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Compare Personal Finance Options for 2021
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Product Descriptions
Product Descriptions
Checking
A transactional account that allows for numerous withdrawals and unlimited deposits. Money can be accessed via checks, ATMs, or debit card among other methods.
Savings
A bank account that keeps your money safe and secure, while paying you interest.
MMA
A Money Market Account is an interest-bearing deposit account at a bank or credit union that pays interest based on current rates in the money markets.
CD
A Certificate of Deposit features historically higher APYs, guaranteed returns & FDIC insurance. CDs are offered in fixed terms w/penalties for early withdrawals.
401K
A 401k is a retirement-savings account that allows an employee to divert a portion of their salary into long-term investments and provides special tax benefits.
Brokerage
An investment account used by investors to buy and sell stocks, bonds, and mutual funds. Income from investments are taxed as capital gains.
REIT
A Real Estate Investment Trust owns and operates income-generating real estate. REITs allow investment in real estate without the need to own, operate, or finance properties.
Robo Advisor
A robo-advisor is an automated investing service that uses algorithms to provide financial advice and/or investment management help you manage your investment portfolio. Relatively inexpensive compared to a human financial advisor.
Roth IRA
An individual retirement account allows after-tax contributions of earned income below a certain level. Investment growth and future withdrawals are tax free.
Traditional IRA
An individual retirement account where you contribute pre-or after-tax dollars. Investment growth is tax-deferred until withdrawal.
Financial Advisor
Financial advisors help people manage their money and reach their financial goals.
Annuity
A financial contract with an insurance company where you make the investor makes a lump-sum payment or series of payments in exchange for regular disbursements in the future.
Cash Management
A cash account typically offered by nonbank financial institutions. CMAs combine features from traditional checking and savings accounts.
Business Checking
A business checking account is similar to a personal checking account, but allows you to separate your business and personal expenses. This can help you keep records organized and simplify your taxes.
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Northrim Bank Products

Banking
Credit Cards
Loans
Mortgage
Banking
Investing
Business
Banking

Simple Checking Account

Minimum opening deposit: $100 Monthly Account Maintenance fee: $0 Interest: No

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Direct Checking Account

Minimum opening deposit: $100 Monthly Account Maintenance fee: $5 (waived with a monthly direct deposit) Interest: Yes

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Power Checking Account

Minimum opening deposit: $100 Monthly Account Maintenance fee: $8 (waived with daily min. balance of $1,000+) Interest: Yes

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President's Club Checking Account

Minimum opening deposit: $100 Monthly Account Maintenance fee: 12 (waived with daily min. balance of $6,000+ or a combined balance of $10,000+ in Personal Savings, Money Market, IRA, or CD accounts) Interest: Yes

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Loyalty Club Checking Account

Refer 4+ new customers, be employee of business enrolled in Northrim Perks program, or take advantage of one of our limited-time account promotions. Minimum opening deposit: $100 Monthly Account Maintenance fee: $0 Interest: Yes

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50 Plus Checking Account

Customers 50 years of age and older. Minimum opening deposit: $100 Monthly Account Maintenance fee: $0 Interest: Yes

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Classic Savings Account

A basic savings account for short- or long-term savings goals Minimum opening deposit: $100 Monthly account maintenance fee: $1.50 (waived with an average daily collected balance of $100+) Interest: Yes ATM Access: Yes

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Money Market Account

Save with the option to write checks Minimum opening deposit: $500 Monthly account maintenance fee: $6 (waived with daily min. balance of $2,000+) Interest: Yes ATM Access: No

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Performance Savings Account

For larger savings balances with easy access to funds Minimum opening deposit: $500 Monthly account maintenance fee: $10 (waived with an average daily collected balance of $5,000+) Interest: Yes ATM Access: Yes

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Kid's Club Savings Account

For kids and teens who want to learn the benefits of savings Minimum opening deposit: $5 Monthly account maintenance fee: $0 Interest: Yes ATM Access: Yes

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Education Savings Account

A Coverdell Education Savings Account (ESA) allows users to make non-deductible contributions on behalf of a child each year. Three tiers of interest allow you to earn more interest as your balance grows. Interest is tax-free.

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Health Savings Account

Minumum account opening deposit: $25 Interest: paid monthly on balances of $100 or more. Three tiers of interest allow you to earn more interest as your balance grows. Benefits: Free monthly statements. Free access to Northrim Online Banking.

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Credit Cards

Platinum Credit Card

No annual fee ID Theft Protection Mastercard Airport Concierge

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Platinum Payback Credit Card

No annual fee 1% Cash Back ID Theft Protection Mastercard Airport Concierge

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Platinum Preferred Credit Card

No annual fee Earn unlimited one point for every dollar spent ID Theft Protection Mastercard Airport Concierge Eligible for 25,000 bonus points

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World Credit Card

Earn more points or cash back No foreign transaction fees Eligible for 25,000 bonus points ID Theft Protection Mastercard Airport Concierge™ $35 Annual Fee

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World Elite Credit Cards

Most valuable points or cashback No foreign transaction fees Eligible for 25,000 bonus points ID Theft Protection™ Mastercard Airport Concierge™ $299 Annual Fee

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Loans

Personal Loan

Personal loan options for Alaskan, for airplane travel, Recreational equipment, vehicle purchase, motorcycles, motor homes/RVs, residential lots, and home equity. Also offers lines of credit lines of credit and secured and unsecured loan options.

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Mortgage

Residential Mortgage

Mortgages for purchasing or refinancing homes in Alaska and other select states. The bank provides 13 mortgage plans, which include; First Home, Renovation Loan, Fixed-Rate Mortgage, Rural Program, among others.

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Banking

Regular Certificates of Deposits

Regular terms from 30 days to 5 years Minimum opening deposit: $500 Terms: 30 days-5 years Interest: Yes Additional deposits allowed: No Limited withdrawals allowed: No Additional benefits: No

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Jump-Up CD

Option to increase earnings when interest rates rise Minimum opening deposit: $500 Terms: 1-3 years Interest: Yes Additional deposits allowed: Yes Limited withdrawals allowed: No Additional Benefits: Yes

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Alaska CD

For higher balances with added flexibility, like a savings account Minimum opening deposit: $10,000 Terms: No maturity date or a specified term Interest: Yes Additional deposits allowed: Yes Limited withdrawals allowed: Yes Additional Benefits: Yes

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Investing

Individual Retirement Account (IRA) Variable IRA

Opening deposit: $100 Account service charge: $5/quarter (waived with daily min. balance of $500+) Additional deposits: Can make multiple deposits in any increment during the year, up to the maximum annual contribution amount

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Individual Retirement Account (IRA) Jump-Up IRA

Opening deposit: $100 Account service charge: $5/quarter (waived with daily min. balance of $500+) Additional deposits: Can make a deposit every seven days, up to the maximum annual contribution amount1 Additional benefits: Yes

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Business

Business Edge Checking Account

Minimum opening deposit: $100 Monthly account maintenance fee: $0 Interest: No Benefits: No charge for transactions No charge for cash deposited ATM surcharges and/or out-of-network fees up to $10 waived upon request

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Business Advantage Checking Account

Minimum opening deposit: $100 Monthly account maintenance fee: aries based on balance4 Posted checks over 300 (monthly): $0.20 each Interest: No Benefits: No limit on monthly cash deposited

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Business Analysis Checking

Minimum opening deposit: $100 Monthly account maintenance fee: varies Interest: No Benefits: Earnings credit to offset fees, based on monthly average balance Qualifies for bonus interest rate on the Alaska CD

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Business Interest Checking

Minimum opening deposit: $100 Monthly account maintenance fee: $4.50 Interest: Yes Benefits: No limit on monthly cash deposited ATM surcharges and/or out-of-network fees up to $10 waived upon request

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Business Credit Cards

Busines Platinium, Business Platinum Payback, Business Platinum Preferred, Business World Elite, and Business World Elite Plus

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Business Savings and Money Market Accounts

Business Savings, Business Money Market, and Business Performance Savings

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Business Lending

Commercial and small business loans, commercial real estate loans, and residential construction loans

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Why Northrim Bank

Lending Teams That Work For You

An expert business lending team equipped with local industry insight and connections. Our team provides customized lending solutions for businesses to help them meet their financial goals.

Taking Care Of Your Business

Our team and tools help businesses navigate challenging times. The SurThrival is a financial education tool to equip businesses with essential financial tools and expert guidance to help them overcome the challenges.

Local Experts

A community-based bank with over 25 years of experience in the Alaskan business community. We promise to engage and educate customers by providing news, analysis, and commentary on Alaska’s economy.

If you have questions about Northrim Bank products and services or your account, you may conveniently reach in person, by phone, by mail, or online via the secure messaging system for account holders through the online Customer Comment Center. For all general queries, the Customer Service Center is available to assist you Monday to Friday 8 a.m. – 6 p.m., and Saturday 10 a.m. – 3 p.m.

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