Cash Back Truth-In-Savings Disclosure
This disclosure contains the rules that govern your deposit account as of November 1, 2023.
Account Overview
Cash Back is a free variable reward checking account with no minimum balance that rewards accountholders with cash back on their PIN-based or signature-based debit card purchases when they meet minimum qualifications during the account’s Monthly Qualification Cycle.
Purpose & Use Expectations
The Cash Back checking account is intended to be the accountholder’s primary checking account in which payroll transactions and day-to-day spending activities include, but are not limited to grocery, gasoline, apparel, shopping, dining, sporting, and entertainment transactions are posted and settled. Commensurate with the spending activities identified above, we expect the account’s debit card to be used frequently throughout each month and for transaction amounts to reflect a wide dollar range.
Associated Healthcare Credit Union reserves the right to determine if the account is being maintained for a purpose other than day-to-day, primary use. Accountholders who persist in making debit card transactions in a calculated and limited fashion to meet their monthly qualifications may have their accounts converted to a different checking account or closed altogether. We also reserve the right to convert the account to a different checking account if the account does not have consistent, active use over three (3) consecutive Statement Cycles.
We have the right to close this account at any time, with proper notice. Our decision to close the account will not affect your existing obligations to us including any obligation to pay fees or charges incurred prior to termination. No deposits will be accepted and no checks will be paid after the account is closed. If the account is closed, you will forfeit any rewards that have not been credited to your account. An Associated Healthcare Credit Union check for the remaining balance, if applicable, will be mailed to accountholder at the address indicated on our current records. Upon termination of your Healthy Rewards Cash Back checking account, any optional add-on products / services associated with this account will also be terminated at the same time.
Qualifications
To earn your rewards just do the following transactions and activities in your Cash Back Checking Account during each Monthly Qualification Cycle:
- Have at least a combined total of 20 PIN-based or signature-based debit card purchases post and settle
- Once 20 debit card purchases have been met, the cardholder will earn 1.00% cash back on the first $1,200 of purchases
- Purchases must be $5.00 or greater
- Enroll in and agree to receive e-Statements
- Enroll in Associated Healthcare Credit Union’s online banking
- Have monthly direct deposits greater than $500.00
Transactions and activities must post and settle to the account during each Monthly Qualification Cycle and may take one (1) or more Business Days from the date the transaction or activity occurred to post and settle to the account. “Business Day” means a calendar day other than a Saturday or a Sunday and Federal Holidays (does not include Christmas Eve day).
The following activities do not count toward earning account rewards:
- ATM-processed transactions
- Transfers between accounts
- Debit card purchases processed by merchants and received by Associated Healthcare Credit Union as ATM transactions
- Non-retail payment transactions and purchases made with non-Associated Healthcare Credit Union-issued debit cards
- Purchases less than $5
A Monthly Qualification Cycle means a period beginning on the first day of the current Statement Cycle through the last day of the current Statement Cycle.
“Statement Cycle” means the period of time for which Associated Healthcare Credit Union provides a summary of the financial activities and transactions that post and settle to the accountholder’s account.
Rewards
Cash Back qualifications are based upon the purchases you make with your Associated Healthcare Credit Union debit card. Your Cash Back rewards are based upon the number of PIN and Signature purchases that settle to the account during that cycle period. Your Cash Back reward will be calculated using the cash back rate based upon the number of purchases settled during the cycle period. Cash Back rewards will be posted to your account no later than the fourth business day of the month.
Tiers
0 – 19 Debit Card Transactions – No Cash Back, No APY, No Rewards
Min. 20 Transactions (TRX)
1.00% on the first $1,200 of purchases
Maximum $12 Cash Back per month. Maximum $144 Cash Back per year.
When Cash Back qualifications are not met, you will not receive cash back on PIN-based or signature-based purchases. Rates and rewards are variable and at our discretion; may change after the account is opened without notice and Fees may reduce earnings. No minimum balance is required to earn or to receive the account’s rewards. Rewards less than a penny cannot be distributed.
Additional Information
A $25 minimum deposit is required to open the account. This account is not to be used for commercial purposes and there is a limit of one account per social security number. There are no fees to open or close this account. There are no recurring monthly service charges associated with this account. See Service Charge Schedule for fees that may apply to this account. Contact an Associated Healthcare Credit Union member service representative for additional information, details and enrollment instructions. Federally insured by NCUA.
