Welcome to surprising Checking benefits and earnings you won’t find elsewhere. Welcome to High Yield Checking!
This account is ideal if you tend to hold a larger account balance. For smaller balances also consider Cash Back Checking.
Our special High Yield Checking account has one of the highest rates of checking interest in the U.S. and there’s absolutely NO minimum balance.
Why so high and so accessible? We want to encourage you to be financially secure—and a healthy account balance is an awesome way to start.
With our High Yield Checking account you’ll enjoy all the benefits you expect from a great bank account and then—each month simply make 10+ Visa Debit Card transactions, have Direct Deposit of at least $1,000 & receive eStatements—add a lot of extra benefits you won’t find at most banks, including:
- Earn 5% on balances up to $5000. Balances above $5000 will earn the Membership Savings rate
- ATM surcharge rebate of up to $10 a month
- 0.25 % bump up rate bonus on Certificates
- Loan discounts of up to 1.00%
Get bigger benefits and higher earnings today.
An initial deposit of $20 is required to open any Checking Account. High Yield Checking is an interest earning checking account eligible for up to 5% APY interest on the average daily balance in the checking account up to $5000 (five thousand dollars) and 0.25% on balances over $5000. Dividends are calculated by applying a periodic rate to the Average Daily Balance in the account for the Dividend period. High Yield Checking will earn up to 5% APY interest and is eligible for up to $10 (ten dollars) in ATM surcharge rebates per statement cycle subject to the following: 1) $1,000 (one thousand dollars) monthly minimum direct deposit, 2) eStatements, and 3) 10 Debit Card Point of Sale (PIN and Signature based) posted transactions using the Farmers Insurance Federal Credit Union Debit Card. Posted transactions count toward monthly minimums. Interest earned will be credited to the account at the end of the statement period. Additional restrictions apply: I must be a Member in good standing with a valid email address on file with the Credit Union. Qualifying transactions must post and clear the account during the monthly qualification cycle. Should the account not qualify for ATM surcharge rebates and/or the 5% APY interest, and for balances in excess of $5000, the account will earn 0.25% APY (twenty five basis points) on the checking account balance. Transactions may take one or more business days from the transaction date to post to the account. At the time of the statement cycle date you will verify the combined products and services used since the previous cycle date to determine the qualification for the 5% interest and the eligibility for the ATM surcharge rebate. In the event that my monthly $1,000 ACH direct deposit credit does not come in for a 60 day period, the loan discount and the rate bump-up on the certificate will also be discontinued. Current interest rates and the annual percentage yield may be found at the Credit Union’s website, may be verified at a Credit Union Branch or by calling 800.877.2345. Interest rates earned, ATM surcharge rebate amounts and qualifying dollar amounts for interest earned are subject to change at any time. APYs, ATM surcharge rebate amounts and eligibility criteria are subject to change at any time. Fees may reduce earnings. Accounts with one calendar month of no activity will be assessed an inactivity fee of $5.
