Real Rewards Checking

Account Number:
Date Opened:
Payment Frequency: Monthly
Current Rate: NA
Current APY: NA

Purpose and Expected Use of Account

This account is intended to be the accountholder’s primary checking account in which payroll transactions and day-today spending activities are posted and settled.

We have the right to close this account at any time, with proper notice. Our decision to close the account will not affect your existing obligations to us, including any obligations to pay fees or charges incurred prior to termination. No deposits will be accepted, and no checks will be paid after the account is closed. If the account is closed, you will forfeit any rewards that have not been credited to your account.

Qualifications:

To earn your rewards, complete the following three transactions and activities in your Real Rewards Checking account during each Monthly Qualification Cycle:

1. At least $500 in direct deposit.
2. At least 15 debit card purchases post and settle.
3. Be enrolled in and agree to receive eStatements.

Transactions and activities may take one (1) or more Banking Days from the date the transaction or activity occurred to post and settle to the account. The following activities do not count toward earning accounts rewards: ATM-processed transactions, transfers between accounts, debit card purchases processed by merchants and received by Riverview Federal Credit Union as ATM transactions, non-retail payments transactions and purchases made with non-Riverview Credit Union issued debit cards.

“Statement Cycle” means the period of time for which Riverview Federal Credit Union provides a summary of the financial activities and transactions that are posted and settled to the accountholders account.

“Qualification Cycle” ends on the day prior to the last banking day of the Statement Cycle unless the statement cycle ends on a weekend.

Additional Information:

No minimum deposit is required to open the account or maintain the account. At least $500 in Monthly Direct Deposit, 15 debit card transactions and receipt of electronic statements are conditions of this account. This account is not to be used for commercial purposes and there is a limit of one account per social security number. There are no fees to open or close this account. There are no recurring monthly service charges associated with this account.

Compounding & Crediting:

Dividends will be compounded on a daily basis. Dividends will be credited to your account on the last day of the current Statement Cycle. If you close your account before dividends are credited, you will not receive the accrued dividends. Dividends begin to accrue on the Banking Day when you deposit noncash items (for example, checks).

“Banking Day” means any business day on which an office of the credit union is open to the public for the purpose of carrying out substantially all of its banking functions.

Dividends are paid from current income and available earnings, after required transfers to reserves at the end of a dividend period.

Balance Computation Method:

Daily Balance Method: We use the daily balance method to calculate the dividends on your account. This method applies a periodic rate to the principal in the account each day for the period. The period we use is the Statement Cycle.

Reward:

When qualifications are met during a Monthly Qualification Cycle, you will receive (1) 3.00% cash back on up to a total of $250.00 in debit card purchases that post and settle to the account and (2) a maximum of $25.00 reimbursement for nationwide ATM fees incurred during the Monthly Qualification Cycle in which you qualified. If you believe you have not been reimbursed the correct amount of ATM fees you must contact us within sixty (60) calendar days after the Statement Cycle where the reimbursement was applicable to receive a refund. An ATM receipt must be presented for reimbursements.

When your account qualifications are not met, you will not receive cash back on debit card purchases and ATM fees are not refunded.

Rates and rewards are variable and at our discretion may change after an account is opened without notice to you. Fees may reduce earnings. No minimum balance is required to earn or to receive the account’s rewards. Rewards less than a penny cannot be distributed.