High Yield Checking

An initial deposit of $20 is required to open High Yield Checking. High Yield Checking is an interest earning checking account eligible for up to 5.00% APY interest on the average daily balance in the checking account up to $5,000 (five thousand dollars) and 0.20% APY on balances over $5,000. 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 5.00% 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 5.00% APY interest, and for balances in excess of $5000, the account will earn 0.20% APY (twenty 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 5.00% 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. 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.

† 1.00% rate discount is for a minimum of $1,000 monthly ACH Direct Deposit or Agent Net Check into a Farmers Insurance Federal Credit Union Checking Account and Automatic Payment/Folio Deduction as a repayment method to qualify. Rates are subject to change at anytime.

Rate bonus is for a minimum of $1,000 monthly ACH Direct Deposit or Agent Net Check into a Farmers Insurance Federal Credit Union Checking Account. Rates are subject to change at anytime.

New Member Bonus Program— Eligible “New Member” will receive a bonus in the amounts stated, subject to the following:
New Members/New Account must use a valid “promo/promotional” code at signup/account opening to be eligible to receive the bonus. Offer not available to existing Farmers Insurance Federal Credit Union’s (“Credit Union”) Members. This Bonus Program offer cannot be combined with any other New Member or Referral offer and is limited to one bonus per account per new Member. This offer is not available to referrals or individuals who are currently or have been in the past a Member of the Credit Union.  

In order to be eligible the “New Member” must be an individual who is at least 18 years of age; is within the Credit Union’s Field of Membership; and who becomes a new qualified member. The eligible New Member must open a qualified bonus account with a minimum qualifying deposit with new money and/or obtain a new qualifying loan with the Credit Union within 10 days of joining the Credit Union. The New Member must remain a Member for at least 90 days in order for the bonus to be paid. In order to qualify for any Bonus under this Promotion, the New Member must at all times, from the time the individual becomes a Member of the Credit Union until the bonus is paid, be a Member in good standing and not in breach of any Credit Union policy or agreement with the Credit Union. 

There are different ways to qualify for a bonus. In order to be eligible the New Member must fully comply with one of the following to qualify: 

Checking and Direct Deposit Bonus: In order to qualify for a bonus the “New Member” must open a FIGFCU Checking (sharedraft) account within 10 days of joining the Credit Union, and post Eligible Direct Deposits into the Checking account during the “Direct Deposit Bonus Period”. 

The Direct Deposit Bonus Period begins when the eligible New Member opens a new Credit Union Checking (sharedraft) account and ends 90 calendar days after account opening. The bonus amount will be based on the total amount of Eligible Direct Deposits received during the Direct Deposit Bonus Period.  

• $100 Bonus for Eligible Direct Deposits with a cumulative total of $3,000 to $14,999, received through at least 3 eligible Direct Deposits, made on different days, during the Direct Deposit Bonus Period. 
• $250 Bonus for Eligible Direct Deposits with a cumulative total of $15,000 or more, received through at least 3 eligible Direct Deposits, made on different days, during the Direct Deposit Bonus Period. 

Once the Direct Deposit Bonus Period has passed, the Credit Union will determine if the eligible New Member has met the offer requirements and if the New Member qualifies, will thereafter deposit any earned bonus within 30 calendar days. The New Member must have an active Membership savings account at the time of the bonus payout. The bonus will be posted to the Membership savings account.  

Eligible Direct Deposit means a recurring deposit of regular income to a Member’s FIGFCU Checking (sharedraft) account, from payroll, pension, or government benefit payments (e.g., Social Security), made by the Member’s employer, payroll,  benefits provider, or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network. 
Deposits that are from check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), bank ACH funds transfers, wire transfers, or are non-recurring in nature (e.g. IRS tax refunds), do not qualify as Eligible Direct Deposits. 

The Promotion is available starting October 01, 2025 until further notice. This Bonus Promotion is subject to change and/or termination at any time without prior notice. 

Whether the New Member qualifies for a Bonus will be in the Credit Union’s sole discretion. The Bonus will be posted to the Membership savings account. “Bonus” is considered interest and will be reported to the IRS.  The above bonuses are not available to FIGFCU’s Board of Directors, Officers, Employees, their immediate family members, and members of their households.