Qualification Information:
Account transactions and activities may take one or more days to post and settle to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account's rewards. The following activities do not count toward earning account rewards: ATM-processed transactions, transfers between accounts, credit card purchases, debit and credit card purchases processed by merchants and received by our credit union as ATM transactions, non-retail payment transactions and purchases made with debit cards not issued by our credit union. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards.
"Monthly Qualification Cycle" means a period beginning one (1) day prior to the first calendar day of the current statement cycle through one (1) day prior to the last calendar day of the current statement cycle.
See our website at mtcfederal.com or call 1-800-442-7792, to speak to one of our branch member service representatives for specific Monthly Qualification Cycle dates.
Reward Information:
When your High-Yield Checking account qualifications are met during a Monthly Qualification Cycle, average daily balances up to and including $15,000.00 in your High-Yield Checking account earn a dividend rate of 5.84% resulting in an APY of 6.00% and average daily balances over $15,000.00 earn a dividend rate of 0.49% on the portion of the average daily balance over $15,000.00 resulting in a range from 6.00% to 1.22%% APY depending on the account's average daily balance.
When your High-Yield Checking qualifications are not met, the dividend rate earned on the account's entire average daily balance will be 0.05% resulting in an annual percentage yield of 0.05%.
Dividends will be credited to your High-Yield Checking account on the last day of the current statement cycle.
Rates, rewards, and bonuses, if any, are variable and may change after account is opened; rates may change without notice to you. No minimum balance is required to earn or receive the account's rewards. Rewards less than a penny cannot be distributed. Fees may reduce earnings.
When your High-Yield Savings is linked to High-Yield Checking, or Cash Back Checking account qualifications are met during a Monthly Qualification Cycle, average daily balances up to and including 6% in your High-Yield Savings or CB High-Yield Savings account earn an APY of 4% and average daily balances over $15,000.00 earn a dividend rate of 0.5 % on the portion of the average daily balance over $15,000.00 resulting in a range from 4.00% to 2.25% APY depending on the account's average daily balance.
When your linked High-Yield Checking or Cash Back Checking account qualifications are not met, the entire average daily balance in the High-Yield or CB High-Yield savings account earns a dividend rate of 0.05% resulting in an annual percentage yield of 0.05% APY.
Dividends will be credited to your High-Yield Savings account on the last day of the current statement cycle.
APY = Annual Percentage Yield.
APYs accurate as of September 10, 2024
APY calculations are based on an assumed balance of $100,000 in your High-Yield Savings account and an assumed statement cycle of thirty-one (31) days.
Rates, rewards, and bonuses, if any, are variable and may change after account is opened; rates may change without notice to you. No minimum balance is required to earn or receive the account's rewards. Rewards less than a penny cannot be distributed. Fees may reduce earnings.
Additional Information:
Membership restrictions may apply.
Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements apply.
No minimum deposit is required to open the account.
Monthly Direct Deposit/ACH credit, enrollment in online banking, enrolled in eStatements , of this/these account(s).
Enrollment in electronic services (e.g. online banking, e-statements) and log-ons may be required to meet some of the account's qualifications.
Limit of one High-Yield Checking account(s) per Member
There are no recurring monthly maintenance charges or fees to open or close this account.
Advertised information and rewards are based on all account qualifications being met during each monthly qualification cycle.
Contact one of our credit union member service representatives for additional information, account details, restrictions, reward calculations, processing limitations, cycle dates and enrollment instructions.
Federally insured by NCUA Your Savings Insured To $250,000 Per Account.
