UFirst makes fee-avoidant checking accounts a thing of the past with Better Checking, checking accounts that have no monthly maintenance fees, but earn Rewards or Dividends each month.
SALT LAKE CITY, June 24, 2023 /PRNewswire-PRWeb/ — In May 2023, UFirst Credit Union launched Better Checking, two new checking accounts that allocate rewards or dividends to checking account holders. Derek Knowlton, Chief Marketing Officer of UFirst Credit Union, stated, “We’re so excited to launch these Better Checking products that are wholly designed to benefit the member. These accounts are free of maintenance fees and, instead of avoiding fees and charges, members can now earn rewards or dividends with no strings and no surprises. Our goal was to give something completely unique to our members; something that gives back to them in a real, visible way, every single month.”
UFirst Credit Union’s approach to Better Checking makes earning rewards or dividends, essentially, automatic. Although reward points are earned by performing basic banking behaviors, like accessing online banking, members don’t need to spend money at certain places or deviate from their normal banking or transactional patterns to earn rewards. This alleviates the need for members to keep track of how rewards are issued.
UFirst Credit Union issues up to 1,000 reward points for Rewards Checking account holders each month, and the breakdown is straightforward. Rewards Checking account holders will earn 250 points for:
- having a direct deposit of $1,000+ in aggregate per month
- completing 25+ transactions of $5+ each month
- accessing Better Online Banking at least once per month
- and, if members have a loan with UFirst, making that loan payment on time
Many people with checking accounts already do these things; UFirst Credit Union has turned basic banking into an easy checklist for earning rewards. Rewards points can be used for things like purchasing merchandise or can be redeemed for cash back. Rewards Checking account holders who also have a UFirst Visa Rewards Credit Card can combine points with points earned through Rewards Checking making the biggest challenge just deciding how to spend rewards.
For those who carry a higher checking account balance and want to earn interest on that balance, UFirst Credit Union developed Dividends Checking. Differentiating from other financial institutions who may offer dividends on only a percentage of an account balance, UFirst Dividends Checking earns monthly dividends on the entire account balance.
Both Rewards and Dividends checking products are easily managed through UFirst’s free Better Online Banking platform or their free mobile app where members can see account balances and transactions, transfer money between internal and external accounts, deposit checks, and a host of other services.
UFirst Rewards Checking and UFirst Dividends Checking are free of monthly maintenance fees and have no minimum account balance requirements. Both accounts also include other features like free ID theft protection.
UFirst Dividends Checking and Rewards Checking are available to members of UFirst Credit Union. Anyone who lives, works, goes to school, worships or volunteers in Salt Lake, Davis, Summit, Tooele, Wasatch or Utah counties, or is related to someone who meets any of those criteria, is eligible to join UFirst Credit Union and can apply at ufirstcu.com.
Founded in 1956, UFirst Credit Union is member-owned and local to Utah. Its mission is to create a positive impact on the community and make a difference for every member every day.
Better Checking accounts are free of maintenance fees and, instead of avoiding charges, members can earn rewards or dividends with no strings and no surprises. Our goal was to give something completely unique to our members; something that gives back to them in a real way, every single month.
SOURCE UFirst Credit Union