HY WOW! (Helping You When Others Won’t!) Checking is a simple and free product.  All members who are signed up for eStatements and have at least 10 POS transactions in a month are eligible to receive 1.00% Annual Percentage Yield on their checking account in the proceeding month.

How can a member sign up for E-statements?

A member can sign up for E-statements through their online banking portal.

What is a POS transaction?

A POS or point of sale transaction is the point where a transaction is finalized or a the moment where a member tenders payment, in the form of his debit card. in exchange for goods and services. In order for a POS purchase to be completed, a PIN number or signature must be authenticated before an authorized transaction can be made. This does not include ATM transactions.

What balance is used to calculate the dividend?

The average daily balance is used to calculate the dividend the member will receive. This is calculated by adding together the balances at the end of each day and dividing by the number of days in the month. There is no maximum balance either, but keep in mind the NCUA only insures amounts up to $250,000.00.

Is there a minimum balance required?

There is no minimum balance required to have a HY WOW! Checking account.

What is the interest rate if there are less than 10 POS transactions?

If a member has less than 10 POS transactions in a month, he will receive whatever the base interest rate is for that month for a checking account.

Anything Else?

Dividends will be paid on accounts with an average daily balance of $50 or more.  There are no maintenance fees associated with HY WOW! Checking. This, among other things noted above, separates us from most financial institutions who offer a “premium” checking account. Additionally, most other financial institutions will charge a fee if certain conditions, like balance amount and transaction amounts, aren’t met.