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 4.00% APR interest on the average daily balance in the checking account up to $5000 (five thousand dollars) and 0.20% APR 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 4.00% APR 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 4.00% APR interest, and for balances in excess of $5000, the account will earn 0.20% APR (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 4.00% 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. APRs, 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.