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With our Free Rewards Checking, we pay 3.33% APY on balances of $0 to $25,000 and .51% APY for any balance over the $25,000 if you meet the monthly qualifications listed below. In addition, you will receive up to $20 in ATM fee refunds per month. If you do not qualify for the higher interest rate, a standard 0.10% APY will be applied to the entire balance in your account.
To qualify for the higher interest rate (e-rate), on a monthly basis you must:
- Make at least 10 debit card point-of-sale transactions (excluding ATM transactions).
- Receive a monthly Electronic Statement.
- One direct deposit or ACH Auto Debit (transaction must be over $1.00).
For Rewards Checking, a "qualification cycle" starts on the last business day of a month and ends on the second to last business day of the next month; this allows us to calculate and post interest and ATM refunds on the last business day of each month. All requirements must be completed and posted in each qualification cycle to be considered a qualifying account and receive the e-rate for that month. Interest is calculated and paid through the last calendar day of the month.
Jan: 12/31-1/28
Feb: 1/29-2/25
Mar: 2/26-3/30
Apr: 3/31-4/29
May: 4/30-5/27 (5/31 is Memorial Day, non-business day)
Jun: 5/28-6/29
Jul: 6/30-7/29
Aug: 7/30-8/30
Sep: 8/31-9/29
Oct: 9/30-10/28
Nov: 10/29-11/29
Dec: 11/30-12/30
If monthly requirements are not met, we will pay not less than the minimum rate on your account.
PLUS, No Monthly Fees & No Minimum Balance!
Click here to apply online.
- When the Rewards Checking requirements are met, the interest rate on your account and corresponding annual percentage yield (APY) is described in the chart below
| Balance Tier |
Interest Rate |
Annual Percentage Yield (APY) |
| 0-$25,000 |
3.28% |
3.33% |
| $25,001.00 and Above |
0.51% |
0.51% |
- When the Rewards Checking requirements are not met, the interest rate on your account and corresponding annual percentage yield (APY) is described in the chart below
| Balance Tier |
Interest Rate |
Annual Percentage Yield (APY) |
| All Balance |
.10% |
.10% |
- The daily method is utilized to determine which rate will be applied.
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Your interest rate and APY may change at any time.
- Interest begins to accrue no later than the business day we receive credit for the non-cash items (for example, checks).
- Interest is compounded monthly. Interest will be credited to your account on the last day of each statement cycle.
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We use the daily balance method to calculate the interest in your account. This method applies a daily periodic rate to the principal in the account each day.
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You must deposit $50 to open this account.
*3.33% Annual Percentage Yield (APY) paid on balances between $.01 and $25,000, and 0.51% APY paid on all amounts above $25,000 each cycle the minimum requirements are met. If you do not meet the requirements during a given cycle, you will earn the Standard Rate of 0.10% APY. Rates as of February 1, 2010. We may change the interest rate and APY at any time after the account is opened. No minimum balance required, however you must deposit a minimum of $50 to open this account. Available to personal accounts only. No monthly service charge. If you do not meet the requirements per cycle, your account will still function as a free checking account earning the Standard Rate, however it will not receive ATM Refunds for that time period. |
