Free Reward Checking
Free Reward Checking: High Interest That's a Shoe In!
Step it up with free checking that pays! Earn 2.75% APY* with added perks to boot: nationwide ATM fee refunds, no minimum balance to earn rewards and no monthly service fee. All this just for doing a few everyday things you probably already do.
- 2.75% APY* on your balance up to $10,000**
- 0.05% APY* if qualifications are not met**
- Unlimited ATM fee refunds nationwide
- No minimum balance required
- No monthly service fee
- Unlimited check writing
- Free Visa® Debit Card
- Free check safekeeping
- Free Online Banking
- Free Bill Pay
- Free Telephone Banking
- Minimum opening deposit is $100
To earn the outstanding Bonus Rates and ATM fee refunds, simply perform the following each monthly qualification cycle**:
- Have at least 10 Debit Card Transactions (excluding ATM Transactions) post and clear
- Have at least 1 Direct Deposit or One ACH Auto Debit post and clear
- Receive a Monthly Electronic Statement
But even if you don't meet the qualifications for a given cycle, the account is still free with NO monthly service charge and you can still qualify for the benefits in future cycles.
*APY = Annual Percentage Yield.
When the Reward Checking qualifications are not met, the interest rate on your account will be 0.05% and the annual percentage yield will be 0.05%.
When the Reward Checking qualifications are met, the interest rate on your account and corresponding annual percentage yield will be tiered. If your daily balance is $10,000.00 or less, the interest rate paid on the entire balance will be 2.714% with an annual percentage yield of 2.75%. An interest rate of 0.25% will be paid only for that portion of your daily balance that is greater than $10,000.01. Than annual percentage yield for this tier will range from 2.75-0.48% depending on the balance in the account. Rates as of 3/22/2012.
The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account. We may change the interest rate on your account at any time. Interest will be compounded on a monthly basis. Interest will be credited to your account on the last day of the statement cycle. If you close your account before interest is credited, you will not receive the accrued interest. Interest begins to accure on the business day you deposit noncash items (for example, checks). We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Qualification cycle means a period beginning one day prior to the current statement through one day prior to the close of the current statement. APY is accurate as of the date of this publication. No minimum balance required; however you must deposit $100 to open this account. Available to personal accounts only. No monthly service charge. Unlimited ATM refunds per qualification cycle if the requirements are met. The qualification cycle is the 21st of the month thru the 20th of the next month. The qualification cycle may end earlier if the 20th falls on a weekend or holiday.
If you choose not to have electronic delivery of e-statements, your account will be converted to a Basic Checking account after (3) monthly qualification cycles.