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Checking Account Disclosures & Details

Co-op Advantage Checking Account vs Free Checking

Rates subject to change at any time. Rates effective as of December 7, 2023.
Service Co-op Advantage Checking Free Checking
High-earning dividend rate  
Nationwide ATM fee refunds up to $10 per calendar month  
No minimum balance
Free UMassFive ATM use
Free VISA Debit Card with unlimited transactions
Free ATM withdrawals at non-UMassFive ATMs
Mobile Wallet compatibility
Optional Overdraft Protection*
Courtesy Pay**

*Optional Overdraft Protection - A share transfer option and a line of credit option are available.

**Courtesy Pay - A privilege provided to eligible members that allows them to overdraw their checking account so that checks and other items are not returned ("bounced"). In most cases, Courtesy Pay is offered to members in good standing immediately after a new checking account has been opened.

Overdraft and Courtesy Pay Policy Information

Co-op Advantage Checking Account Additional Information

  • ATM fee refunds up to $10 per cycle (calendar month) if all reward rate requirements are met (see below).
  • Reward rate 0.50% Annual Percentage Yield (APY) paid on balances between one penny and $15,000, and 0.10% APY paid on all amounts above $15,000 each qualification cycle (calendar month) if the minimum requirements are met. If you do not meet the requirements per cycle, your account will still function as a free checking account earning Base Rate 0.03% APY; however, it will not receive ATM refunds for that cycle period.
  • We may change the rate and APY at any time after the account has been opened.
  • No Minimum Balance to maintain an account.
  • You must establish credit union membership with a Share Savings Account balance of at least $5.
  • Available to Personal Accounts only.
  • No monthly service charge.
  • Free Online Bill Pay.
  • Fees could reduce the earnings on this account.

Reward Rate Requirements

Simply meet the following free and easy requirements for each monthly qualification cycle. If you don’t meet the requirements, don’t worry. There’s no penalty and you can work towards meeting them next month:

  • 12 Debit Card purchases
  • 1 Direct Deposit or ACH Auto Debit
  • Receive eStatements

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