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Impressia Bank - a division of CNB Bank
Impressia Bank - a division of CNB Bank
Profit First PackageColleen Sward2024-12-05T11:50:26-05:00

Unlock Financial Success with our Profit First Package

*Annual Percentage Yield (APY) is accurate as of September 23, 2024 and is subject to change after account opening. Standard rates apply.

Designed for efficiency and scalability to propel your business into the future.

It’s all about simplicity – bid farewell to complex financial strategies and embrace an easy-to-understand approach that anyone can implement. Gain clarity into your financial health with real-time insights, ensuring you know exactly where your money is going and how it’s working for you. With the Profit First Package, you can rest easy knowing that you’re building a solid foundation for wealth and long-term financial security.

  • Allocate Funds: Divide your income into different accounts based on predetermined percentages, ensuring that every dollar has a purpose.

  • Manage Expenses: Control spending and optimize expenses to maximize profitability and financial stability.

  • Prioritize Profit: Make profit a priority by setting aside a portion of your income for your own benefit – because you deserve to reap the rewards of your hard work.

  • Monitor Progress: Track your progress and adjust your strategy as needed to stay on course toward financial success.

Mike Michalowicz’s Book “Profit First”

Based on Mike Michalowicz’s Book “Profit First”

Empower your business with Profit First + Impressia Bank

“Impressia not only supports the Profit First system, they are committed to the unique needs of women-owned businesses and driving permanent profitability in your business.”

Mike Michalowicz,
Creator & Author of Profit First

What you’ll get with the Profit First Package

  • 1 Business Interest Checking Account

    • 2.00% APY*
    • Minimum balance fee waived
    • Includes Positive Pay Fraud Protection
    • Operating Expenses account
    • OPTIONAL debit card

  • Up to 10 Business Savings Accounts

    • 3.80% APY* for balances $10,000+
    • 1.80% APY* for balances under $10,000
    • $1,000 minimum balance (or $5 fee per account)
    • Used for Income/Revenue, Profit First Holding, Owners Compensation, Tax Holding accounts
    • OPTIONAL Dual approval security
    • OPTIONAL Self-service hide account(s)

  • Standard Online eBanking with Multi-Account Transfer Tool

    • Transfer tool exclusive to Profit First Package Clients
    • Enhanced OPTION: add ACH
    • Full-Service OPTION: add ACH and wire initiation

  • Mobile Deposit

    • Income account only
    • OPTIONAL Remote deposit scanner for high volume check deposits

  • Business Credit Card

    • Subject to credit approval

  • Exclusive Access to Profit First Community Group

    • Impressia Academy & Profit First Library
    • Bi-Weekly Live Q&A for Profit First Coaching
    • Core chapters 1-15 of Profit First eBook
    • Impressia Connect email content specific to Profit First

  • Additional Services

    • Complimentary Retirement/Investment review with 1865 Wealth Advisors
    • Access to Grant & Small Business (SBA) Loan Specialist
    • Perks At Work Benefits for company employees banking benefits

Learn more about how Profit First works and get started today!

Frequently Asked Questions About Profit First

Is this something that should be considered for all companies or only companies without a professional CFO/VP Finance?Colleen Sward2024-05-14T13:51:22-05:00

Profit First can be used regardless of business revenue size or staffing.  Small to medium sized businesses tend to embrace it more quickly.

If I have an accounting system I like and can navigate, what is the benefit of the Profit First method?Colleen Sward2024-05-14T13:52:25-05:00

The Profit First system is designed to work WITH accounting systems such as QuickBooks. It is not a duplication but rather an enhancement because QuickBooks just shows you what comes in/out of the business and when. The Profit First cashflow management system gives businesses visibility to how money is saved and spent and provides additional clarity that cannot be seen on financial statements.

If I sign up for a bank Profit First package, do I have to pay for a coach?Colleen Sward2024-05-14T13:53:18-05:00

You do not have to hire a coach. Impressia is going to provide the tools and resources to guide you through implementing the core Profit First accounts.

Setting up new accounts is a lot of work. I have a main account already and everything is linked here. How will the bank help me?Colleen Sward2024-05-14T13:54:16-05:00

Impressia Bank has a Profit First Account Package that will include automatically setting up the exact accounts you will need to implement the core bank accounts to support you. Tools and resources to support successful implementations are available.  Please note that if you already have an account at CNB or any affiliates, including Impressia Bank, we can convert them to the Profit First Account Package.

What push-back/fears do clients usually have when first hearing the Profit First concept?Colleen Sward2024-05-15T08:34:09-05:00

Women may be frustrated, overwhelmed, unsure or shameful about not fully understanding their business finances and numbers.

The materials and information presented by Profit First Professional LLC or its affiliates to Impressia Bank customers are for informational purposes only and Impressia Bank customers are not obligated to utilize them. Customers are advised to consult with their own legal, tax and accounting professionals regarding their specific situation before implementing any strategy described by Profit First. Impressia Bank disclaims any liability for decisions made based on the information provided through this service.

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