Alert: In honor of Juneteenth, we will be closed Wednesday, June 19th. Learn more

MY PRIZE CHECKING REWARDS YOU FOR EVERYDAY SPENDING

Rewards Checking

By Jennifer Tucker
May 9, 2024 | 4 Min. Read

EARN DIVIDEND REWARDS WITHOUT JUMPING THROUGH A BUNCH OF HOOPS

Imagine a world where banking is magic. You rub the lamp of financial opportunity, and with each stroke, you unlock rewards beyond your wildest imagination.

Earn 7.00% APY* on balances up to $777 when qualifications are met?
Entries for monthly and quarterly prize packages?
Wish granted.

With a blend of convenience, flexibility, and rewards, Marine Credit Union’s new My Prize Checking account promises a financial journey filled with delight. Let’s explore the wonders of My Prize Checking and the rewards that await you.

MORE REWARDS FOR MORE PEOPLE

At Marine Credit Union, we help you make the most of your everyday banking habits by rewarding you for using your account. If you’ve ever asked yourself, “Where can I get 7% APY on my money?” you’ve found the answer. You can receive dividends of up to 7% APY when you meet a few requirements each month.

WHAT IS A REWARDS CHECKING ACCOUNT?

A rewards checking account offers you incentives and benefits for using the account. Rewards can come in different forms, like cash back on purchases, high-interest rates on balances, or other perks.

My Prize Checking is for members who use their account for everyday banking—and want to be rewarded for it! Our new rewards checking account helps you earn dividends for making purchases with your debit card.

WHAT ARE THE REQUIREMENTS TO EARN DIVIDENDS WITH MY PRIZE CHECKING?

Earning rewards with My Prize Checking is easy. Just enroll in e-statements, set up direct deposit, and swipe your debit card to make purchases at least 15 times per month. When you meet these requirements each month, you’ll receive dividends of 7% APY on balances up to $777 and .10% after $777.

ARE REWARDS BANK ACCOUNTS WORTH IT?

Wondering if opening a rewards bank account is worth it? It depends on your preferences, financial habits, and the specific terms and conditions of the account. Here are some factors to consider when you’re thinking about transferring banks and opening a new rewards checking account:

The rewards structure. Consider the type of rewards offered, such as cash back, points, or interest rates. Do these rewards align with your financial habits and goals?

Fees and requirements. Rewards accounts at some financial institutions come with monthly maintenance fees, high minimum balance requirements, or specific activity requirements. Are the requirements easy for you to meet?

Interest rates. Compare the interest rates of accounts that offer dividends or cash back. Rates vary at different financial institutions. Do others offer 7% interest on your money?

Additional benefits. Some rewards accounts come with additional perks, such as no ATM fees, overdraft protection, or discounts on other banking products. (Psst! My Prize Checking delivers all these benefits and more!)

Redemption options. Investigate how to redeem rewards. Do you have to jump through hoops to get what you earned? My Prize Checking makes rewards redemption easy by depositing dividends directly into your account.

WHAT ARE THE BENEFITS OF REWARDS CHECKING?

My Prize Checking grants your wishes by helping you make the most of your everyday banking habits. You’ll earn dividends without meeting unreasonable requirements.

Our rewards checking account has the following features and benefits:

Earn dividends. Use your account for everyday spending and you can receive monthly dividends of up to 7% APY. Earning dividends is easier with My Prize Checking compared to many other financial institutions, which usually require a high balance or high direct deposits.

Swipe to Win. Every eligible debit card transaction is an automatic entry for a chance to win a $500 monthly prize or a quarterly prize package valued at $2,000.**

No monthly fee and no minimum balance. We don’t think you should have to pay a fee or meet crazy requirements for a bank account. My Prize Checking comes with no monthly service or maintenance fees and requires no minimum balance.

No ATM fees. You’ll never get an ATM fee from MCU, even if you use an out-of-network ATM. (Note that transaction fees from non-MCU ATM operators may apply.)

Free overdraft protection. At MCU, overdraft protection allows an automatic transfer from another account if the balance in your checking account goes negative.

Save on a loan. As a valued MCU member, you’re eligible for a discounted rate on a future loan when you tie direct deposit to your My Prize Checking account.  

GET EVEN MORE WITH MY PRIZE CHECKING

When you open a My Prize Checking account, you also get access to:

Online and mobile banking. Manage your finances from the comfort of your couch or on the go with online banking and the Marine mobile app.

My Payday. Two weeks can be a long time to wait. Get money from your paycheck up to two days before payday. Learn more about My Payday.

My Grace Zone. Breathe easier with access to a $50 grace zone that lets you go a little under your account balance without getting an overdraft fee. Learn more about My Grace Zone.

Help building your credit and savings. Build your credit score and your savings account all at once. Learn more about Get Credit.

OPEN YOUR ACCOUNT TODAY

If you’ve ever wondered, “Is it wise to switch bank accounts?” the benefits of My Prize Checking might convince you. We give you opportunities you may not get from other financial institutions due to their unattainable requirements … because we believe in more rewards for more people.

WHAT IS THE BEST WAY TO SWITCH BANK ACCOUNTS?

Switching bank accounts might seem daunting, but with My Prize Checking, the rewards outweigh the work required to make a change. What do you need to do when switching bank accounts? Here are five simple steps to help you switch bank accounts effectively:

  1. Open your new account.
  2. Update your direct deposits.
  3. Transfer your automatic payments.
  4. Set up your recurring transfers.
  5. Close your old account.

If you’re already an MCU member, you have three easy options to switch your existing checking account to My Prize Checking: send a secure message in digital banking, call the contact center, or visit a branch.

CAN I OPEN AN ACCOUNT ONLINE?

If you’re wondering if you can open a checking account online, the answer is “Yes!” We’ve streamlined the account opening process to make it quick and hassle-free. Opening your My Prize Checking account is as easy as clicking “Get Started” on our website.

A CHECKING ACCOUNT THAT GRANTS YOUR WISH

At Marine Credit Union, the rewards you dream of are at your fingertips. Learn everything you need to know about My Prize Checking and open your account today.

*My Prize Checking. Annual Percentage Yield (APY) accurate as of 03/01/2024. To earn the applicable Annual Percentage Yield (APY) each calendar month you must have ACH direct deposit(s) of $500 or more to your checking account, enrollment in eStatements, and a minimum of fifteen (15) purchases using your debit card. ATM transactions and debit card transactions processed by merchants and received by The Credit Union as ATM transactions not included. Debit card transactions processed by merchants and received by The Credit Union as Point of Sale (POS) transactions are included. No minimum balance requirements to earn dividends. Dividends are compounded daily and paid monthly. Fees may reduce earnings. Rates subject to change. A dividend rate of 6.78% will be paid on your account balance of $777 or less when qualifications are met, resulting in an APY of 7.00% for the dividend period. Account balances over $777 will be paid an APY of 0.10% when qualifications are met. If all requirements are not completed and/or posted in any given calendar month, the entire account balance earns 0.00% APY. If the checking account is closed prior to the end of the calendar month, all potential dividends will be forfeited, and the entire account balance earns 0.00% APY. The full calendar month begins on the first and up to the last calendar day at 5pm CST. Dividends are calculated and paid each calendar month on the daily balance. My Prize Checking is designed to be a primary checking account used for daily spending and other activities associated with primary checking accounts. There is a limit of one My Prize Checking per membership account. Marine Credit Union reserves the right to close one or multiple accounts at any time.

**NO PURCHASE NECESSARY TO ENTER OR WIN. Void where prohibited. Open only to permanent legal residents located in the states of IL, IA, MN, WI who are legal age of majority (and at least 18) at time/date of entry. International and corporate transactions ineligible. Ends 02/28/2026. Consumers do not automatically receive a Prize for having a My Prize Checking account or for signing up for a My Prize Checking account. For Official Rules and complete details, Click here.

Related Posts

June 11, 2024
LEARN HOW TO USE A PASSWORD MANAGER

Imagine this: you receive an alert from your credit union about a failed online banking login attempt. Alarmed, you contact them and learn that someone…

Read More
May 13, 2024
ADJUSTABLE RATE MORTGAGES VS. FIXED RATE MORTGAGES: WHAT YOU NEED TO KNOW

In the world of mortgages, there are two primary options that borrowers often consider: adjustable-rate mortgages (ARMs) and fixed-rate mortgages (FRMs). If you're in the…

Read More
May 2, 2024
HOW TO TALK TO CREDITORS AND DEBT COLLECTORS

It's happened to all of us: the due date on a bill creeps up and the balance in our checking account doesn't quite cover the…

Read More