Go for Gold with Kitsap Credit Union’s Gold Checking

Don’t settle for bronze or silver, go for gold with our Gold Checking account! You can earn more than $495* every year, get paid up to 2 days early**, have access to more than 30,000 free ATMs nationwide, and more. We asked Kitsap Credit Union, Contact Center Supervisor, Richard Shoopman to deep dive into the benefits of our Gold Checking account and as an employee for the past year and loyal KCU member since the early 2000s when his grandmother opened his first Youth Savers account for him, Richard had answers for all any Gold Checking questions you might have.

Q: What are the benefits of Gold Checking?

A: Gold Checking is a great way to earn some dividends on the funds you keep available for your everyday spending. So long as you meet the requirements of receiving digital eStatements, have a Direct Deposit or Outgoing Automated Payment or Bill Payment, and make 12 or more debit card transactions, then you are eligible to earn dividends on the balance in your Gold Checking account. If you maintained an average daily balance of $15,000 in your Gold Checking, you could earn $495* in one year!

Q: Why should I choose checking at KCU over a regular bank?

A: As a not-for-profit, member-owned financial cooperative, Kitsap Credit Union puts our member’s needs first. We offer a wide variety of financial wellness resources and your membership helps make our community a better place. In addition to the earning potential I mentioned above, there are no minimum balances to be concerned with, eStatements are free, and even up to $25 in ATM fees can be refunded (if you meet the same requirements for dividends). So not only are you earning money on your funds, but you’re saving money each month as well!

Q: How do I know if Gold Checking is right for me?

A: Gold Checking is right for you if you already utilize a checking account with a debit card and direct deposit.  If you already do those two things with a checking account that is not earning you interest or is charging you regular fees, then Gold Checking is any easy upgrade to save and earn you some money.

Q: What happens if I don’t meet the qualifications for earning dividends and ATM refunds?

A: There is no penalty for not meeting the qualifications, you simply don’t earn the rewards. You won’t earn dividends for that month, and any ATM fees will not be refunded. And yes, you will still be eligible for the rewards the next month if you meet the qualifications.

Q: What tools are available through Online Banking for this account?

A: There are some great options for managing your Gold Checking online, either through our recently revamped website or Mobile App! First, there is the Gold Checking Status tool, this tool allows you to easily see if you are on track to earn the dividends and rewards we’ve been talking about. The status tool tallies the number of eligible transactions and the other requirements to earn the rewards. It also tracks all the other requirements for Gold Checking status.

Our Money Management feature is another great feature that can be utilized by all checking and savings accounts. This tool allows you track and categorize your spending, providing insights into where your money is going. These two tools are a great way to manage your account, and there are plenty of other tools available in our Online Banking for members to utilize.

If you’re ready to go for Gold Checking, visit https://www.kitsapcu.org/personal/goldchecking/ to apply today.

Disclosures

GOLD CHECKING MONTHLY QUALIFICATIONS*

Monthly qualifications apply to earn stated rate, refer to Rate & Fee Schedule(Opens in a new window) for more information. The qualification period is from the 1st day of the month until the last day of the month. Must meet Credit Union membership eligibility and account opening requirements. Minimum to open account is $25. High APY rate paid on balances between one penny and $15,000, and 0.05% APY paid on the portion of the balances above $15,000 each cycle the qualifications are met. If you do not meet the qualifications per cycle, your account will earn the Base Rate and will not receive ATM fee refunds for that period.

Qualifications: (1) Have 12 or more in-person or online point of sale (POS) transactions or debit card purchases post and clear by close of business on the last day of the month (bill payments using debit card are excluded); (2) Sign up to receive account statements electronically (e-statements) by the last day of the month; and (3) receive a direct deposit, conduct an outgoing ACH transaction, or perform an online bill payment transaction to post and clear by close of business on the last day of the month. Available to personal accounts only and limited to one per Tax ID number.

EARLY ACCESS TO DIRECT DEPOSIT**

Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.