A checking account is the account we seem to access most often. Most banks don’t offer very many perks for checking account holders, however, Provident Credit Union isn’t like all the other banking institutions. Provident Credit Union is rewarding its customers by providing them with a checking account they’ll want to brag about.
Chapter 1. Who is Provident Credit Union
Provident Credit Union is based out of California. They are the 18th largest credit union in the state of California, and the 82nd largest credit union in the United States. Provident Credit Union was started in 1950 as a bank to serve the California Teachers Association. Provident has received five start ratings from the Bauer Financial institution. They currently have $184 million in capitol reserves and $1.6 billion in assets. They strive to be conservative in their lending to keep their credit union alive in these hard economic times. There are over 93,000 members of Provident Credit Union. Provident is NCUA insured, meaning your money is protected to the highest amount allowed. They have been around for over 60 years and are working hard to make sure that remains the case for many more years to come.
Chapter 2. Super Reward Checking Account
This checking account offered through Provident Credit Union if free of monthly services charges. You won’t be charged just for having the account open. This account also offers a much higher APY than checking accounts offered through other banking institutions. The APY on this account is 2.26% for balance or $25,000 and below. Provident knows customers use electronic banking to fulfill their banking needs, so they don’t penalize you for doing so. They offer unlimited ATM use, with no surcharge. Plus, they offer up to $2.50 per transaction in ATM rebates that a third-party might charge you for using any national ATM. Provident Credit Union provides travelers checks, money orders and corporate checks with no fee, which is an extra bonus. This checking account also allows you to set up another account to serve as overdraft protection. If you don’t have another account, or those funds can’t cover the overdraft amount, you can take advantage of Provident’s Courtesy Pay. This option doesn’t have a fee to sign up for, but you will be charged a fee, per item that Courtesy Pay is used for.
The 2.26% APY is considerably higher than other banks, but in order to receive that interest rate back on your money, you must meet some requirements. You must make at least 10 transactions with your check card, per month. It doesn’t matter if you use your pin to make the transactions, or sign for them, but these ten times cannot include ATM transactions. You must have at least one direct deposit per month into the account, or have one ACH credit or debit per month. You also must enroll with their e-Statement plan to receive all your statements through online banking.
Chapter 3. Applying
In order to open this account, you must be a member of the Provident Credit Union, be 18 years or older, and have a minimum opening balance of $25. Becoming a member and applying for this account can be done online, through Provident’s official website. There is a limit of three Super Reward checking accounts per membership, but if you feel this account is a good fit for you, apply now and start earning more money off your checking account balances.