2.00% APR (annual percentage rate of August 1, 2020) on balances up to $25,000.
Each month, make at least twelve VISA Debit Card or Credit Card transactions excluding ATM transactions (must be posted transactions as pending transactions not posted do not qualify), make one $400 Direct Deposit into the checking account, and enroll to receive your statements electronically.
In order to receive the 2.00% APR (annual percentage rate of August 1, 2020) the above stated three requirements must be met monthly (from the 1st day to the last day of each month).
Your checking is still free and you may begin to qualify during the next month to earn the Bonus Checking benefits.
No, there are no monthly service fees on the Bonus Checking account.
If you meet the requirements, you will receive the 2.00% APR (annual percentage rate of August 1, 2020) on daily average balances up to $25,000. If you do not qualify, you will not earn any dividend but your Bonus Checking account is still FREE.
Yes, all rates on the Bonus Checking are subject to change, without notice, at the credit union’s discretion.
No. The Bonus Checking is a high dividend account. However, rates may fluctuate from time to time at the credit unions discretion.
Daily Balance Method applies as a daily periodic rate to the principal in the account.
Dividends are paid monthly and posted on the last day of the month.
You may access online banking to review your account activity and confirm that you have met the minimum account requirements at any time.
Yes, in January we will mail your 1099-I
No, as long as you qualify your existing checking account will be paid the Bonus Checking dividend.
No, to qualify only POS (point-of-sale) and signature based transactions qualify to meet the twelve transactions requirement. They must be posted (settled) to the account and not pending as authorizations but rather actually debit the account.
Yes, you need 12 posted VISA debit or credit card transactions settled through your account.
A settled transaction is one that has posted to your account. When you use your VISA Debit or Credit Card, the merchant may place a hold on your account in the amount of the transaction. It can take several days before the transaction posts to your account, the average time frame is 2-3 days, but they can sometimes take longer.
No, each month must meet its own requirements.
No, but you must accept e-statement delivery with a valid e-mail address. We recommend you regularly review your e-statement activity to reduce your exposure to identity theft and fraud. Coming into the branch or calling the branch to print your statements disqualifies the requirement of e-statements.
All statements, cleared checks and deposit images are available online using home banking. You may view and print check images from e-statement as far back as two years.
You may print a check or statement copy from any computer that has a printer when you sign on to your account using our secure online home banking system.
Notify the credit union when any personal contact information has changed for phone(s), address or email address. Bonus Checking dividends require a current e-mail address so we can notify you of your statement availability each month.
Electronic statement delivery is a requirement for all Bonus Checking accounts. Delivery of paper statements is not an option with Bonus Checking.
No, the Bonus Dividend will be paid on the balance in the account up to a maximum of $25,000.
No, there is no minimum balance requirement.
Yes, overdraft protection is available. Speak with a Member Service Representative to set up overdraft protection.
Yes, your existing VISA Debit, Credit Card, and checking account number will remain the same.
Meet the requirements and you will be converted. It’s that simple!
No, there is a limit of one Bonus Checking account per member.
No. The Bonus Checking account is only for individual memberships and not for business checking accounts.
No, if you convert an existing dividend-bearing account to Bonus Checking, You will be paid the dividends earned up until the date you qualify for the Bonus Checking dividend. Once you convert and qualify you will be eligible for the Bonus Checking dividend rate.