The Difference
If you regularly maintain higher balances in your checking account, High-Yield Checking can help you earn more without changing how you bank. Your money remains available for everyday expenses while earning competitive dividend rates based on your balance tier.
Built for Everyday Banking
High-Yield Checking is a great option for:
- Members who maintain higher checking balances
- Emergency fund savings that need to remain accessible
- Cash reserves for upcoming purchases
- Households and businesses looking to maximize earnings on everyday funds
- Anyone who wants their checking account to work harder
There is no long-term commitment, and your funds remain available whenever you need them.
FAQ
What is a High-Yield Checking account?
A High-Yield Checking account is an interest-bearing checking account that pays competitive dividends while providing convenient access to your money for everyday banking.
How do I earn dividends?
Dividends are earned based on your average daily balance and the corresponding dividend rate tier. Higher balances qualify for higher dividend rates.
Is my money locked up like a CD?
No. Unlike a certificate account, your funds remain available for purchases, ATM withdrawals, transfers, bill payments, and other everyday transactions.
Are there monthly service fees?
No. High-Yield Checking does not have a monthly service fee.
Can I use a debit card with this account?
Yes. You can use your debit card for purchases and ATM transactions just like a traditional checking account.
Can I set up direct deposit?
Yes. Direct deposit is available for payroll, retirement benefits, and other recurring payments.
Do I have access to online and mobile banking?
Yes. You'll have access to MyPoint Online Banking and the MyPoint Mobile App to manage your account whenever it's convenient.
When are dividends paid?
Dividends are calculated and paid monthly and are automatically deposited into your account.
Is there a minimum balance requirement?
There is no minimum balance required to maintain the account. However, dividend earnings and APYs are determined by the balance tiers shown above.
Is my money insured?
Yes. Deposits are federally insured by the National Credit Union Administration (NCUA) up to applicable limits. For additional information on NCUA's share insurance coverage, please visit NCUA.
Who can open a High-Yield Checking account?
High-Yield Checking is available to eligible MyPoint members. If you're not yet a member, we can help you get started.
Can dividend rates change?
Yes. Dividend rates and APYs are variable and may change at any time. Current rates are shown in the rate table above.
Make Your Everyday Money Work Harder
Earn competitive dividends on qualifying balances while maintaining the flexibility to spend, save, transfer, and withdraw funds whenever you need them.
Open a High-Yield Checking Account Today
Apply Now!