The Premier Share Draft account provides you with higher dividend rates of 3% APY (Average Percentage Yield) on balances up to $20,000.00 if qualification criteria are met. There is a second tier of interest of 0.20% on balances above $20,000 if qualification criteria are met. Dividends are calculated by the average daily balance method. They are compounded and credited every month to your account.
Qualifications: To qualify for the above rates, you must meet the following requirements per monthly qualification cycle:
- At least 13 posted debit card purchase transactions must post and settle to your account per monthly qualification cycle. Debit card transactions processed by merchants by us as ATM transactions do not count towards qualifying debit card transactions. Only debit card transactions processed by merchants and received by us as point-of-sale (POS) transactions count towards qualifying card transactions. Please note transactions MUST post and settle to your account during the monthly qualification cycle.They may not be in a pending state to qualify as one of the qualifications. Transactions may take one or more business days from the date the transaction was made to post and settle to an account.
- You must be enrolled in our online banking and log into online banking at least one time per monthly qualification cycle. Please contact a member service representative for details on how to enroll.
- You must be enrolled and receive your monthly account statement electronically. Please contact a member service representative for details on how to enroll.
- You must have a direct deposit into your account or automatic payment out of your account in the amount of at least $50.00 per month.
- Pays competitive dividends that will help your money grow
- No monthly service charge or minimum balance requirements
- Account subject to $25.00 overdraft fees
- Debit Mastercard and check orders are available on account
- Eligible for Direct Deposit for member’s convenience
- Monthly statements are provided to members giving peace of mind of account balance and transaction history
- Can be accessed via CUTalk Telephone services, It’sMe247 Mobile & Online Banking, through a phone call or stopping by a credit union branch, ATM, or ACH deposits and withdrawals