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My Rewards Checking

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My Rewards Checking offers you:
  • FREE checking
  • A great rate – 2.00% APY* – is paid on balances up to $10,000
  • ATM fee refunds nationwide – up to $25 per qualification cycle**
  • No minimum balance requirement
  • No monthly service charges
It's easy to qualify each cycle***:

Start today and open your own My Rewards Checking:

  • Anyone – Open your My Rewards Checking account in person at any Interra office location.
  • Members with an Interra checking account – Complete, print and deliver the enrollment form to any Interra office (via fax, by mail or in person).

What happens if I do not meet the qualifications for My Rewards Checking?

Don’t worry. Your checking account is still free and you can start over to earn the rewards during the next qualification cycle. Dividends will be paid at a base rate on your balance.
As a courtesy, everyone automatically qualifies during the cycle in which the account is activated, allowing time for everything to be set-up and ready for the following qualification cycle (setting up direct deposits/ACHs and/or e-Statements, ordering and activating debit cards, etc). 
What if the account balance is below $10,000? 
You're in luck! The rate applies to any balance up to $10,000.
What if the account balance is above $10,000? 
You'll still earn .30% APY* – a significantly higher rate than the regular checking account rate – on balances over $10,000.
How do the ATM refunds work?
The refunds include surcharge and foreign transaction fees.
What is a signature-based debit card transaction?
Transactions process one of two ways with your debit card. One is PIN-based, usually when you enter your 4-digit PIN. However, merchants can choose how they process transactions if the amount is less than $50.00, meaning they can treat it as a PIN-based transaction, even when you aren’t required to enter your PIN. This practice varies by the merchant, at his/her discretion.
Most other transactions are considered “signature-based,” whether you actually sign or not. Frequently, for example, a debit card transaction at a service station is a “signature-based” transaction, but you don’t actually sign the receipt. Be sure to choose the signature-based method so that your debit card purchases count toward the minimum of 10 that you need to post and clear per qualification cycle.
To keep track of the signature-based transactions you make, just go to Interra Online Banking. Those transactions show as SIGNATURE BASED, and the others show as POS WITHDRAWAL. That can help ensure you receive the rewards of My Rewards Checking.
Debit or credit?
A signature-based debit card transaction processes through the MasterCard system, even though the funds are withdrawn from your checking account. If you want a signature-based transaction, always choose “credit.”
How do I set up a direct deposit?
Direct deposit is a process through which a payor (company/organization/agency) deposits funds directly into your account, rather than issuing a paper check. In order to do this, you must provide the payor with your 10-digit My Rewards Checking account number and the credit union's routing number 271291017.
What is an ACH auto debit?
Short for Automated Clearing House Network, it is an automatic payment you set up to be directly deducted from your account. It may be a regular insurance premium, utility payments, or other types of payments. Because some Interra Bill Pay payments are processed via ACH, they would meet this qualification. However, processing methods are subject to change without notice, thus relying on bill pay to meet your direct deposit/ACH requirement, could result in forfeiture of rewards if the processing method of the payment changes. 
e-Statement registration – Get an EZ $10!
When you sign up for e-Statements you will access your account statement via online banking rather than receiving it through the mail. Setting up e-Statements is as easy as 1 - 2 - 3!
  1. Log into Interra Online banking. If you aren't already registered, sign up now!
  2. Click on the e-Statement tab and follow the prompts.
  3. VIEW your statement – current and previous months.

That’s all you have to do. Interra will deposit $10 to your account within two weeks of signing up.

View Frequently Asked Questions.

My Rewards Checking communications
  1. You will receive a “welcome” e-mail from Interra Credit Union ( The subject line will be: My Rewards Checking. Be sure to save this e-mail address on your approved e-mail address list.
  2. At the end of each qualification cycle, you will receive an e-mail from the above address and subject. It will include your account activity based on the requirements and let you know if you qualify or do not qualify for the rewards. If you do not qualify one month, don’t worry. You will be starting a new cycle and a new opportunity to earn rewards.
* Annual Percentage Yield. APY effective February 1, 2012, and are subject to change without notice. Rate tiers are as follows: 2.00% APY applies to balances of $0.01-$10,000.00 and 0.30% applies to balances over $10,000.00 if qualifications are met each qualification cycle, 0.10% APY applies to all balances if qualifications are not met. Rates may change after the account is opened. Fees may reduce earnings.
** ATM fee refunds up to $25.00 provided only if qualifications are met within the qualification cycle. Fee refunds are only applied to withdrawals made from the My Rewards Checking account. ATM surcharges over $4.99 are not automatically refunded, but may be manually refunded by a credit union representative with the presentation of a receipt within 10 business days following the month that the My Rewards Checking qualifications were met.
*** Minimum balance to open the account is $25.00. No minimum balance required to maintain the account. Qualifying purchases or other transactions must post and clear the account during the qualification cycle. Purchases/Transactions may take one or more business days from the transaction date to post to an account from the date the purchase/transaction is made. Intra-bank transfers do not count as qualifying transactions. PIN based purchases do not count toward qualifying debit card purchases.
Read the complete My Rewards Checking Truth-in-Savings Disclosure.

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