Terms and Conditions

This disclosure contains the terms, conditions and rules associated with opening and maintaining your High-Yield Checking. The information herein applies at account opening and if you (a) change your account or (b) if you add Performance Savings, as appropriate, to your High-Yield Checking, account, provided our rates and rewards have not changed since the date of your account opening. Please check the Affinity website or visit one of our local branches for updated rates and account information. Please keep this disclosure for your records and future reference.

PURPOSE AND EXPECTED USE OF ACCOUNT:

Account Expectations: Our institution expects the accountholder to use their selected Reward Checking account as their primary checking account in which payroll transactions and day-to-day spending activities including but not limited to grocery, gasoline, apparel, shopping, dining, sporting, and entertainment completed transactions. Commensurate with these spending activities, we expect the account's debit card to be used frequently throughout the entirety of each month and for transaction amounts to reflect a wide dollar range.

Examples of Inappropriate Use: Small debit card transactions conducted on the same day at a single merchant and/or multiple transactions made during a condensed time period particularly near the end of a Monthly Qualification Cycle are not considered normal, day-to-day spending behavior. For example, five debit card transactions, each for a dollar, conducted at a convenience store, two days before the end of the cycle would not be considered by our institution as normal, day-to-day spending behavior. These types of transactions, and other activities that appear to be conducted with the sole purpose of qualifying for the account's rewards, will be deemed inappropriate transactions and may not count toward earning the account's rewards. Accountholders who persist in making debit card transactions in a calculated and limited fashion in order to meet their monthly qualifications may have their Reward Checking accounts converted to a different checking account or closed altogether.

Our Rights: Our institution has the right to close this account at any time, with proper notice. We also reserve the right to analyze your account activity to determine: (a) if the account is being maintained for a purpose other than day-to-day primary use; (b) if debit card activities are being executed solely for the purpose of earning the account's rewards and (c) if another account might better serve your banking needs and activities. We also reserve the right to convert the account to a different checking account, one that may or may not include a monthly fee, if the account does not have consistent active use (defined by our institution as having a minimum of 12 debit card transactions completed each cycle period) over 6 consecutive Statement Cycles.

Ramifications of Account Closure: Our decision to close your Reward Checking account will not terminate your Affinity membership or affect your existing obligations to us including any obligation to pay fees or charges incurred prior to termination. No deposits will be accepted, and no checks will be paid after the account is closed. If the account is closed, you will forfeit any rewards that have not been credited to your account. A check from our institution for the remaining balance, if applicable, will be mailed to accountholder at the address indicated on our current records. Upon termination of your Reward Checking account, any optional add-on products / services associated with this account will also be terminated at the same time.

If, for whatever reason, your Reward Checking account is closed, your Performance Savings account will automatically be converted to a standalone savings account and the new savings account associated terms and conditions will apply. If for whatever reason, your Performance Savings account is closed, then only the appropriate Reward Checking account information within this disclosure will apply.

Qualification Information:

Account transactions and activities may take one or more days to be processed and posted to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account's rewards. The following activities do not count toward earning account rewards:

ATM-processed transactions, transfers between accounts, debit card purchases processed by merchants and received by our credit union as ATM transactions, non-retail payment transactions and purchases made with debit cards not issued by our credit union. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards.

You will automatically qualify for your chosen account’s rewards during your account's first statement cycle. After the first statement cycle, all account qualifying criteria must be minimally met each month in order to receive rewards.

“Monthly Qualification Cycle” means a period beginning one (1) day after the last day of the previous qualification cycle through one (1) Banking Day prior to the last Banking Day of the current Statement Cycle. See below for specific Monthly Qualification Cycle dates.

Please visit our website or contact one of our branch service representatives for specific Monthly Qualification Cycle dates.

Reward Information:

When your High-Yield Checking account qualifications are met during a Monthly Qualification Cycle, daily balances up to and including $15,000.00 in your High-Yield Checking account earn a dividend rate of 5.366% resulting in an APY of 5.50%; and daily balances over $15,000.00 earn a dividend rate of 0.4988% on the portion of the daily balance over $15,000.00, resulting in a range from 5.50% to 1.15% APY depending on the account's daily balance.

You will receive reimbursements up to an aggregate total of $25.00 for nationwide ATM withdrawal fees incurred within your Cash Back Plus account during that Monthly Qualification Cycle. We reimburse ATM withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM withdrawal fee. If you have not received an appropriate reimbursement, we will adjust the reimbursement amount if we receive the transaction receipt from you by visiting a local branch or submitting a communication via online/mobile banking within sixty (60) calendar days of the withdrawal transaction. NOTE: ATM fee reimbursements only apply to High-Yield Checking or Cash Back Plus transactions via ATM; Performance Savings ATM transaction fees are not reimbursed nor refunded.

When your High-Yield Checking qualifications are not met, the dividend rate earned on the account's entire daily balance will be 0.04999%% resulting in an annual percentage yield of 0.05% and ATM withdrawal fees are not refunded.

Dividends will be credited to your High-Yield Checking account on the last day of the current statement cycle.

Nationwide ATM withdrawal fee reimbursements will be credited to your account on the first processing/business day of the following statement cycle.

“Statement Cycle" means the period for which our institution provides a summary of the financial activities and transactions that are processed and posted to the accountholder's account.

APY = Annual Percentage Yield.

APYs accurate as of September 3, 2024.

APY calculations are based on an assumed balance of $15,000 + $100,000 in your High-Yield Checking account and an assumed statement cycle of thirty-one (31) days.

Rates, rewards, and bonuses, if any, are variable and may change after account is opened; rates may change without notice to you. No minimum balance is required to earn or receive the account's rewards. Rewards less than a penny cannot be distributed.

Additional Information:

Membership restrictions may apply. An Affinity membership eligibility account is required with a $5 deposit.

Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements apply. This account is not offered for members who already have an active High-Yield Checking account opened and these accounts may not to be used for commercial purposes.

No minimum deposit is required to open the account.

Enrollment in electronic services (e.g. online banking, e-statements) and log-ons may be required to meet some of the account's qualifications.

Limit of one (1) account(s) per member allowed.

There are no recurring monthly maintenance charges or fees to open or close this account. Advertised information and rewards are based on all account qualifications being met during each cycle period.

Advertised information and rewards are based on all account qualifications being met during each cycle period.

Contact one of our credit union service representatives for additional information, account details, restrictions, reward calculations, processing limitations, cycle dates and enrollment instructions.

Federally insured by NCUA