First Rate Checking
This account takes FREE checking even further. It earns high dividends and pays back your ATM fees when you meet a few simple requirements. Things you probably already do, like using your debit card.
Conveniences like free online banking, bill pay, and eStatements come standard. Extra privileges include unlimited check writing, discounts on consumer loans and mortgage closing costs. Definitely a First Rate account!
A guide on how to manage your checking account can be found at: http://files.consumerfinance.gov/f/201602_cfpb_consumer-guide-to-managing-your-checking-account.pdf
- 2.00% APY* paid on balances up to $25,000
- 0.15% dividend rate* on amount of balance over $25,000, resulting in a 2.00% - 0.52% APY** (depending on balance)
- 0.15% APY* on all balances if qualifications aren't met
- Nationwide ATM fee refunds (up to $25 per month)*
- No monthly service fee
- No minimum balance to earn rewards
- Free online banking and bill pay
- Free eStatements
- Free mobile banking
- FREE Visa® debit card
- Free Traveler's Cheques and Cashier's Checks
- First 10 Visa® Gift Cards FREE
- 0.25% discount on consumer loans***
- $350 discount on mortgage closing costs****
To qualify for the "First Rate Checking" reward rate, you must perform the following each calendar month (statement cycle):
- Have 25 posted and cleared debit card point of sale transactions by the end of the last business day each month.*****
- Have one direct deposit or ACH debit/credit post to the account by the end of the last business day each month.
- Receive your monthly statement electronically******
It's that easy! But if you don't meet the qualifications on any calendar month, don't worry. You still have a free checking account that earns our base dividend rate, and you can get back to earning rewards the very next calendar month you qualify.
*APY=Annual Percentage Yield. APYs accurate as of 02/01/2017. Rates may change after account is opened. If qualifications are met each calendar month (statement cycle) : (1) Domestic ATM fees incurred using Rewards Checking check card during calendar month (statement cycle) will be reimbursed up to $25.00 and credited to account on the last day of monthly statement cycle; (2) balances up to $25,000 receive APY of 2.00%; and (3) balances over $25,000 earn 0.15% dividend rate on the portion of the balance over $25,000, resulting in 2.00% - 0.52% APY depending on the balance. If qualifications are not met, all balances earn 0.15% APY. *****Debit Card transactions processed by merchants and received by the Credit Union as ATM Transactions do not count toward the qualifying debit card transactions. Only debit card transaction processed by merchants and received by the Credit Union as point of sale transactions count towards qualifying debit card transactions. All debit transactions must be posted to the account on or before the last business day of the month. For Example: If you make a purchase with your debit card on the last business day of the month that transaction may NOT post on that day. Debit card point of sale transactions are posted to your account when the merchant sends the settlement information to us. First Community has NO control over when the merchant posts the debit transaction. Transactions posted after the last business day of the month will count toward the next calendar month. Sundays and Federal Holidays are not considered a business day. Transfers between accounts do not count as qualifying transactions. ATM-processed transactions do not count towards qualifying debit card transactions. If you close your account before the end of the calendar month (statement cycle), you will forfeit any ATM fee refunds. ******You agree to enroll in eStatement at www.firstcommunity.com. You understand that if you fail to enroll in eStatements that your account will not qualify for the reward rate or the domestic ATM fee refunds up to $25.00 per statement cycle. Note: Statement and Dividend cycles are monthly. Fees may reduce earnings.
**APY range calculated with a $125,000 balance.
***Offer valid for checking account holders with direct deposit only. Rates, terms and conditions subject to change. Loan subject to credit approval. Not valid with any other offer. Offer does not include refinances on First Community loans or first mortgage loans. Offer of .25% APR discount valid on one consumer loan per calendar year.
****Mortgages available to Missouri & Illinois residents only. Offer valid for checking account holders with direct deposit only. Rates, terms and conditions subject to change. Loan subject to credit approval. Not valid with any other offer. Offer does not include refinances on First Community loans. One $350.00 discount per mortgage loan per calendar year.
- Overdraft Privilege Info
- We have standard overdraft practices that come with your account
- We offer different plans, such as a link to a share/savings account or overdraft line-of-credit
- What you need to know about overdrafts and overdraft fees