Genius High Yield Checking Accounts

A high yield checking account works like a standard checking account by giving you access to your money whenever you need it, but with one big difference - you can earn interest just by using your account! By keeping your money in a high yield checking account and using your debit card like normal, you can earn cash dividends from an annual percentage yield (APY).

Our high yield checking accounts offer cash dividends, paid out monthly, that offer an APY interest rate on your average daily balance. If you use your debit card 10 times a month (or more), your daily average checking balance will start to earn interest using our APY. This interest is then paid out at the end of the month on your average daily balance, up to $7,500*.

When it comes to interest checking accounts, the term “high yield” refers to the annual percentage yield being calculated as interest. Most standard checking accounts don’t offer interest, as they’re more meant for daily spending instead of holding onto your money in the way a savings account would. High yield checking, accordingly, offers interest rates rates the way you would get on something like a CD or Money Market account, but you get rewarded for using your money for everyday needs!

Many standard checking accounts don’t offer interest, and that’s what makes a high yield checking account so unique. The interest is calculated using your average daily balance, and is paid out at the end of the month so long as your debit card is used 10 times that month.

Opening a high yield checking account is free at Genisys Credit Union! Our checking accounts don’t require an initial deposit or minimum balance. However, as our APY and benefits are calculated by your average daily balance, keeping a high balance may help you make the most of your money and benefits.

Most Genisys checking accounts don’t require balance minimums over time. However, the balance of a high yield checking account will have an impact on your overall rewards - as your APY is calculated based on your average daily balance, maintaining a good balance can help you reap even greater benefits at the end of the month!