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Important Changes to your Checking Account

Premier Members Credit Union is committed to offering the best products and services to our members. We are thrilled to share with you upcoming product enhancements on your checking account. On July 1st your checking account will automatically become our new Earn Big Free Checking account. With this change, you can earn up to 4% APY* — just for using your account! Your checking account has no minimum balance requirements and no monthly fees…which means it’s still free.

We want to reward you for things you do every day, like using your debit card and having direct deposit. Plus, with this new account we make having eStatements even greener (with the extra green in your pocket).

CALCULATE YOUR EARNINGS

Earn Big Free Checking Earnings Calculator

Deposit range is $0–$99,999,999

Distribution Breakdown
Tiers APY
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This calculator is for illustrative purposes only and does not reflect the actual results of any specific deposit amount.

To earn big, you need to meet the following criteria each month1:

  • Have a direct deposit# of at least $500
  • Be enrolled in eStatements
  • Use your debit card at least 25 times with your signature (insert card and choose to sign instead of enter a PIN)

How the rate works:

Earn an APY of: On Your Money in Each Earning Tier:
4.00% $1 – $2,000
1.50% $2000.01 – $5,000
0.75% $5000.01 – $10,000
0.50% $10,000.01 – $50,000
0.40% $50,000.01 – $100,000
0.35% $100,000.01 – $250,000
0.30% $250,000.01 and above

Then the Earn Big Free Checking account blends your rate amongst the tiers.

The qualification period resets every month1. That means if you don’t qualify to earn big one month, you’re eligible to earn big the next month. And you’ll earn 0.05% APY on your entire checking balance during those non-qualifying months – because we value your relationship with us!

If you have any questions about your new checking account features, please stop by a branch or contact us at 303.657.7000.

Earn Big Free Checking FAQS:

How do I qualify for the dividend rates?

In order to receive the tiered dividend rates each month you need to meet the following criteria:

  • Direct Deposit of at least $500
  • eStatement enrollment
  • 25 signature-based Debit Card purchases per month
What is the monthly time frame?

12:00:01 MST on the 1st day of the month until 11:59:59 the last business day of the month.

What is a signature based transaction?

In order to qualify, you need to use your debit card associated with your checking account at least 25 times per month as a non-PIN based transaction. At the sales terminal you will sign for the transaction instead of entering your PIN.

In the fine print, it states that debit card transactions that “post” to my account, what exactly does that mean?

The transaction must show up in your account history as a transaction. When you swipe your card, that transaction is authorized and may take a few days to post to your account as a transaction and show in your account history. Authorizations and pending transactions do not qualify.

Will there be a way for me to keep track of my progress towards earning big each month?

Yes – starting in July! In online banking, from the account summary screen, click on your checking account and on the next page you will see a tracker showing your progress towards earning big!

What is direct deposit?

In order to qualify you need at least $500 in direct deposit each month. Examples such as payroll, government benefits, retirement or investment payments all qualify. If you have questions about setting up direct deposit, please contact us.

How do I enroll in eStatements?

You can enroll in eStatements through online banking by clicking the Statement and Document tab at the top of the screen. Follow the enrollment process. Once enrolled, you will no longer receive mail statements, you will find them all in this spot in online banking.

If I am already enrolled in eStatements, do I have to sign up again?

If you’re already enrolled, you are good to go! No need to re-enroll, we’ve got you covered.

What if I don’t meet the qualifications during the month?

No worries! If you don’t qualify one month, there’s always next month! Your Earn Big Free Checking is a free account, meaning even if you don’t qualify, there are no monthly service fees or balance requirements. And because we value you, we’ll still pay you 0.05% APY* for those months you don’t qualify.

What’s the catch?

There is no catch. This is the real deal! If you use your checking account and meet the qualifications each month, we want to show you our appreciation for choosing us. You can check out the calculator to see what you can earn. Any dividends you do earn will of course be reported on your 1099-INT from us at the end of the year.

#Qualifying Direct Deposit of your payroll or benefit must be a cumulative amount equal to or greater than $500 per month. In order to receive eStatements you must agree to the Terms and Conditions; eStatements are viewable within online banking. 25 signature based transactions are Visa Debit Card transactions that post to your checking account during the qualification period where a PIN # was not used at the point/terminal of purchase. ATM transactions do not qualify. 1The qualification period is from 12:00:00 am MST on the 1st of the month to 11:59:59 MST the last day of each month. You must be enrolled in eStatements by 2:00 PM MST on the last day of the month to qualify as receiving estatements. You must meet all criteria to earn tiered rates; If all criteria is not met you will earn 0.05% APY based on your average daily balance in the period. *At the end of the qualification period if all criteria are met, a blended rate dividend is paid based on the average daily balance on your account. Dividends are paid at tier rates on balances within each tier. Total dividends paid is the sum from each tier. APY = Annual Percentage Yield. Rates are valid as of 05/07/2018 and are subject to change at any time without notice. Only Consumer checking accounts are eligible. These qualifications and rates do not apply to business or other checking products offered by Premier Members Credit Union. All dividends earned on this product will be reported on applicable tax documents including 1099-INT.