Scott Credit Union launches new high rate Epic Checking Account
Money will be donated to the community when account holders use their debit card
EDWARDSVILLE, IL (January 8, 2019) — Area residents can now earn 4.05% Annual Percentage Yield on their checking account balance up to $25,000 thanks to the new EPIC Checking Account launched recently by Scott Credit Union.
The unique checking account features no minimum balance and no fees, according to Scott Credit Union Chief Operating Officer Linda Fedrick.
“Plus, the account refunds up to $10 each month in ATM fees when our members use other financial institution’s ATMs,” she noted.
EPIC Checking is designed to reward members for using their account, specifically their debit card.
To receive the highest rate and the ATM rebates, account holders must receive their statement electronically and make debit card purchases of $1,500 or more each month.
“That’s all our members need to do and they earn the 4.05% APY, and will receive the ATM rebates,” Fedrick added.
“Another great feature is that every time one of our members uses their debit card, we will donate a portion to our Scott Credit Union Community Foundation to give back to the community,” She noted. “And that will happen at no cost to the account holder.”
Fedrick also added that members can earn 3.05% APY when they receive their monthly statement electronically and they use their debit card for purchases between $750 and $1,499.
“The account has two tiers. The second tier still allows our members the opportunity to earn a high rate if they don’t use their debit card quite as much each month,” she said.
The account pays the higher rates on balances between one penny and $25,000. Scott Credit Union will pay members .25% APY on any balances above $25,000 when members meet the qualifications.
“Another great thing about EPIC Checking is that if our members don’t receive their statement electronically, or they don’t make purchases of at least $750 with their debit card, they will still earn .25% interest on their entire balance with no monthly fee.”
“There is never a minimum balance and never any fees,” Fedrick added. “If they don’t earn the high rate in a month, they just start over the next month with the same opportunity to receive the high rate.”
Scott Credit Union currently has 15 area locations: Scott Air Force Base, East Belleville, Fairview Heights, Collinsville, O’Fallon, Edwardsville, Waterloo, Highland, West Belleville, Mascoutah, Troy, Wood River, Ladue, MO, Columbia, IL, and its Home Office in Edwardsville.
For details on opening accounts at Scott Credit Union, visit www.scu.org.
About Scott Credit Union
Scott Credit Union is a not-for-profit financial cooperative that is member owned. The credit union recently gave over $570,000 million back to members through a bonus dividend and loan interest rebate.Scott Credit Union is open to anyone who lives or works in a 26-county area, including Madison, St. Clair, Monroe, Morgan, Sangamon, Calhoun, Greene, Jersey, Macoupin, Montgomery, Christian, Shelby, Bond, Fayette, Effingham, Jasper, Crawford, Clinton, Marion, Washington, Jefferson, Randolph, Perry, Franklin, Jackson, or Williamson counties in Illinois. Anyone who lives or works in St. Louis City, St. Louis County and St. Charles County in Missouri also can open accounts at SCU. Additionally, anyone active or retired military also can have accounts with Scott Credit Union. Scott Credit Union currently has 17 area locations: Scott Air Force Base, East Belleville, Fairview Heights, Collinsville, O’Fallon, Edwardsville, Waterloo, Highland, West Belleville, Mascoutah, Troy, Wood River, Columbia, IL, Ladue, MO, Crestwood, MO, and its Home Office in Edwardsville. For details on opening accounts at Scott Credit Union, visit www.scu.org.