This account is our way of rewarding members for having their primary checking account with us, and for using the electronic services that make it less expensive to maintain. We start with a free checking account, give it a yield several times greater than the typical savings account. Then we add free ATM transactions nationwide (that includes reimbursements for the ATM fees that other banks charge). It's easy to see why Rewards Checking is the best account in Iowa.

Watch a video explaining more about Rewards Checking.

Here are the features:

• 3.25% APY* on balances up to $25,000 (as of 1/1/12)
• No minimum balance requirement
• Reimbursement for ATM usage and surcharge fees means free ATM access nationwide (refunds up to $20 per month).
• Best Rate Guarantee on CDs and IRAs
• Free CU-Online Home Banking
• No Monthly Fee Visa Debit Card
• Free Online Bill Payer
• Free Mobile and Text Banking access
• Free e-Statements (required)
• Free 24/7 Touchtone Teller access
• Overdraft Privilege available
• Free Visa debit card with Zero Liability Fraud Protection.
• Free Financeworks service within home banking
• Award-winning LOCAL service
• NCUA insured up to $250,000

Rates as of January 1, 2012

Average Daily Balance.........................Rate

$0 - $24,999.99.......................................3.250 % APY

$25,000 and up.......................................0.250% APY

If qualifications aren't met.......................0.100 % APY

*APY is Annual Percentage Yield as of January 1, 2012; the last dividend declaration date. Rate is subject to change after the account is opened. 3.25% APY paid on balances up to $25,000, and all fees generated by ATMs will be refunded provided the following qualifiers are met each monthly qualification cycle: 1) Twelve or more debit card purchases must post and clear the account (these exclude ATM or PIN-based transactions and must average at least $5); 2) An ACH/Direct Deposit or ACH withdrawal of at least $100 must post and clear the account (internal transfers excluded). 3) You must receive and review e-Statements. If qualifiers are not met, 0.10% APY will be paid on all balances and ATM surcharge fees will not be refunded for that cycle. Account holders that do not meet the qualifiers are charged $1 per PIN-based transaction at non-UICCU ATMs or terminals. Limit one account per individual. Personal accounts only. Primary account holder must be at least 18 years of age. $50 initial deposit required. e-Statements required on this account (no paper statements). Fees could reduce earnings on account. Accounts that do not qualify for four months in a row are automatically converted to the UICCU's Free Checking product.

To earn your Rewards, all you have to do each month is:

• Have an ACH direct deposit or ACH withdrawal of at least $100
• Receive statements electronically
• Use your UICCU Visa Debit Card at least 12 times (Average transaction amount for the month must be greater than $5. The 12 qualifying check card transactions must post and clear per qualification cycle and excludes PIN based transactions.)

Rewards and Qualifications

What are the rewards of Rewards Checking?

• 3.25% APY (Annual Percentage Yield) on balances up to $25,000
• 0.25% APY on balances over $25,000
• ATM fees nationwide are automatically refunded at the end of your statement cycle

What are the monthly qualifications to receive the rewards on this account?

• Make 12 signature-based UICCU Visa check card purchases per monthly statement cycle (purchases must be posted, not pending -- excludes PIN-based transactions). These 12 or more transactions must average at least $5.00 and must post to the account before month-end.
• Have an ACH direct deposit or ACH withdrawal of at least $100

What happens if I do not meet the qualifications for Rewards Checking?

Your checking is still free and you can start over next month to earn the rewards. Interest will be paid at the base rate of 0.1% APY on your balance.

Are there any monthly service fees?

No.

Can the APY change on my Rewards Checking account?

Yes, all rates on Rewards Checking may change at University of Iowa Community Credit Union's discretion.

How is the interest calculated?

The average daily balance for the month.

If I meet the qualifications, when will I receive my rewards?

Interest and ATM fee refunds are posted on the first of the month.

How will I know that I have qualified for my rewards at the end of the month?

You can log into online banking to review your account activity and confirm that you have met the minimum account qualifications at anytime.

Will Rewards Checking members receive a 1099 at the end of the year reflecting interest earned?

Yes.

Statement Cycle

What is the monthly statement cycle for Rewards Checking?

The statement cycle begins the first day of the month and ends the last day of the month.

Check Card Transactions

What is a "settled transaction"?

A settled transaction is one that has posted to your account. When you use your Visa check card, the merchant places a memo hold on your account in the amount of your purchase. It can take up to three business days before the transaction posts or clears.

Electronic Statements (required)

What if I need a printed copy of my statement and/or check image?

You can print a check or statement from your computer. Additionally, University of Iowa Community Credit Union keeps records of all statements and checks as required by state and federal laws.

What if I change my e-mail address?

You must notify the credit union when your e-mail address changes so that we can deliver your notification of your statement availability. Most likely, failure to notify the credit union will result in not meeting the monthly qualifications.

Account Limits

Is there a minimum balance requirement in order to receive my rewards?

No.

Is there a limit on the amount of ATM refunds that I can receive during a statement cycle?

Up to $20.00 per month.

Opening/Converting Accounts

Will I be able to use my existing Visa check card and checking account number with my Rewards Checking account?

Yes, if your account is already a University of Iowa Community Credit Union account, everything will remain the same.

How do I convert my current checking account to a Rewards Checking account?

To convert an account, the quickest way is to call us at 339-1000 or 800-397-3790. Otherwise, you can stop by any office location.

Can I open a new Rewards Checking account over the phone?

We prefer for you to come in to a branch or apply online for a new account. (Conversions can be done over the phone.)

Can I open multiple Rewards Checking accounts?

No. There is a limit of one account per person. The primary account holder must be 18.

Can a business open an account?

No. This is for individuals only.