Premium Checking

** APY = Annual Percentage Yield as of 03/30/2023; subject to change. 3.00% APY paid on the first $50,000 in average daily balances and 0.05% APY paid on any average daily balances above $50,000 if three monthly (statement cycle) requirements are met, as follows: (1) 10 or more debit card purchases or debit card payments are posted (ACH/bill pay payments and ATM transactions are not counted toward the monthly requirement), (2) one direct deposit, payroll deposit, or external ACH transfer is received, (3) eStatements are selected. All requirements must be applied to the Premium Checking account. If the monthly (statement cycle) requirements are not met in their entirety, the APY paid will be 0% for that statement cycle. Limit one (1) Premium Checking account per membership.

*Requirements to receive checking cash bonus: Open a new San Mateo Credit Union (SMCU) Premium Checking account (no other account types are eligible) from 01/01/2023 - 06/30/2023. During the full calendar month immediately following the month in which the account is opened, have 10 or more signature-based purchases or payments for at least $100 in spend using the SMCU debit card(s) associated with the new checking account. One direct deposit must be connected to the account and account holder must sign-up for eStatements to qualify. ATM and ACH transactions are not eligible. In the case of a joint account, purchases and payments from multiple debit cards will be added together. 

Offer conditions and restrictions: Membership eligibility requirements apply. Must be age 18 or older. Offer is not available for existing SMCU members who have an open checking account as of 03/27/23. SMCU employees, affiliates, and their families are not eligible. Offer may change or be discontinued at any time without prior notice. Limit of one bonus-eligible checking account per individual and per mailing address. Cash bonus for the month will be paid to the open, eligible checking account within 31 days after the qualification period ends. The account must have a positive balance at the time of payout to receive the bonus. SMCU will classify the bonus as interest paid to the checking account where the bonus is credited. Any applicable taxes associated with the bonus are the responsibility of the SMCU account holder. To the extent required by law, SMCU will report the total value of this bonus to the IRS on Form 1099-INT for the tax year in which the bonus was paid.