Starting August 1, 2023, our revamped GLCU Free Checking rate tiers give you the chance to earn an even higher rate:
Tier 1: Accounts with 0-19 debit card transactions per month will earn 0.05% APY*. Tier 1 accounts are not eligible for ATM fee reimbursement.
Tier 2: Accounts with 20-39 debit card transactions per month and enrolled in e-statements will earn 2.75% APY* on balances up to $10,000 and be eligible for up to $10/month ATM fee reimbursement. 2
Tier 3: Accounts with 40 or more transactions per month and e-statements will earn 5.00% APY* on balances up to $10,000 and be eligible for up to $10/month ATM fee reimbursement. 2
Changes to your GLCU Companion Money Market
In addition to the changes to your free checking account, we will be merging your Companion Money Market and your regular Money Market account. You will see the change to the share type reflected in your upcoming statement.
Account holders with a money market account and a free checking account achieving Tier 2 status (20-39 debit card transactions) will earn an additional 0.50% APY* increase over the stated money market rates, and those reaching Tier 3 status (40 or more debit card transactions) will earn an additional 1.00% APY* over the stated money market rates.
“I have always received great service over the years. I’ll never regret switching from Chase to Great Lakes. It’s more personal in every way for all the services that I have needed. I also feel more secure here.”
* APY = Annual Percentage Yield. All dividend rates and APY may change at any time, as determined by GLCU Board of Directors. The APYs shown above assume that all principal and dividends remain on deposit for the entire term. Fees could reduce earnings on the above accounts.
1 A Minimum of $2,500.00 is required to open the account. You must maintain a minimum average daily balance of $2,500.00 to earn the stated dividends.
2 All debit card transactions, whether PIN or signature-based, will contribute towards the minimum transaction count required. To be eligible for up to $10 in ATM fee reimbursement, you will need a minimum of 20 debit card transactions. Enrollment in e-statements is required to qualify for tier 2 and tier 3 dividend rates.