Your path to smarter banking
We believe your checking account should do more than just hold your money—it should help it grow and simplify your financial life. As a member-owner, you gain access to a range of checking solutions designed with your needs in mind, offering competitive rates, fewer fees, and personalized service.
Why choose a UCU Checking Account?
When you choose UCU for your checking needs, you're choosing a financial partner committed to your success. Our checking accounts offer a host of benefits.
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Earn dividends: Earn 3.00% APY* with a Smart Checking Account and up to 5.00% APY1 with a University Checking Account, two accounts that give you a financial advantage with some of the best rates in the nation.
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No monthly service fees: Enjoy truly free checking with no hidden monthly fees
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Loan rate discounts: Benefit from potential discounts on UCU loans when you set up automatic payments from your checking account.
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Overdraft protection options: Gain peace of mind with available overdraft protection solutions.
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Mastercard® debit card: Enjoy secure and convenient spending wherever Mastercard is accepted.
Discover your perfect fit: Smart Checking vs. University Checking
UCU offers two distinct checking accounts designed to cater to different financial habits and goals. Here's a quick overview to help you decide which is right for you:
Feature
| Smart Checking Account
| University Checking Account
|
Primary benefit
| High APY for simple qualification
| Highest potential APY, especially with other UCU loan accounts
|
Baseline APY
| Earn a remarkable 3.00% APY on balances up to $25,000
| Earn 1.00% APY on balances up to $25,000
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Qualifications for baseline APY
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| Maximum APY | 3.00% APY | 5.00% APY |
| How to earn maximum APY | N/A | Amplify your earnings up to 5.00% APY when you have your loans with UCU, earning an additional 1.00% APY for each loan including an auto loan, credit card, personal loan, or home loan/home equity line of credit (HELOC) |
| Ideal for | Those seeking a high-yield account with straightforward requirements for earning dividends. | Those who frequently use their debit/credit cards and have (or plan to have) other loan relationships with UCU. |
If you are a current member and would like to open a checking account:
Navigate to 'Add a Deposit Account' within digital banking, or contact us at 800.UCU.4510.
*APY = Annual Percentage Yield. To earn 3.00% APY, member must have a qualifying Smart Checking Account, opened August 1, 2024 and after. Based on a combined rate of 2.96%. All accounts must be in good standing with no delinquency or bankruptcy pending. Qualifying Smart Checking Accounts will earn 3.00% APY in dividends on balances up to $25,000. Balances above $25,000 will be paid at the regular checking rate.
Qualifying Smart Checking Accounts are defined as being enrolled in eStatements and having a direct deposit to the Smart Checking Account of at least $1,000 aggregated monthly. If the requirements are not met, then no dividend is earned. Secondary Smart Checking Accounts not eligible to earn APY. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account at the end of each day. Dividends are disbursed monthly into the active Smart Checking Account. APY is accurate as of the last dividend declaration date. Fees could reduce the earnings on the account. Rate subject to change after account opening and may vary based on qualifications met at month end. Not valid with any other offers. No minimum balance is required. To establish a UCU Membership, you must deposit at least $5 to a Regular (Share) Savings Account. A $50 minimum deposit is required to open a Smart Checking Account. All accounts are subject to approval. For other details regarding this account, you can reference your account disclosures, which detail all other terms and conditions.
1APY = Annual Percentage Yield. To earn up to 5.00% APY, member must have a qualifying University Checking Account. Based on a combined rate of 4.88%. Credit card must be active, have at least one monthly transaction (excludes balance transfers and cash advances), and be enrolled in credit card eStatements to qualify for the extra 1.00% APY in dividends. Account does not earn dividends if there is a $0 balance in a HELOC at the end of the month. All accounts must be in good standing with no delinquency or bankruptcy pending. Multiple loans in the same category count for only 1.00% APY in dividends.
Qualifying University Checking Accounts will earn 1.00% APY in dividends on balances up to $25,000. Balances above $25,000 will be paid at the regular checking rate. Qualifying University Checking Accounts are defined as having at least 25 transactions per month (includes transactions made with both debit and credit cards) and enrollment in eStatements. If the requirements are not met, then no dividend is earned. Secondary University Checking Accounts not eligible to earn APY. Dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account at the end of each day. Dividends are disbursed monthly into the active University Checking Account. APY is accurate as of the last dividend declaration date. Fees could reduce the earnings on the account. Rate subject to change after account opening and may vary based on qualifications met at month end. Not valid with any other offers. To establish a UCU Membership, you must deposit at least $5 to a Regular (Share) Savings Account. A $50 minimum deposit is required to open a University Checking Account. All accounts are subject to approval.