MaxYield Checking & Savings

¹3.25% APY (annual percentage yield) effective 3/1/2026 and may change without notice. Rate is applied to the primary membership share savings account.

²Loan rate discounts apply to consumer loans (secured and unsecured personal and vehicle/RV). All loans are subject to CoVantage's normal credit requirements.
³Eligible members may receive direct deposit funds up to two days early, depending on when the payment file is received from the payer. Early availability is not guaranteed and may vary by pay period.
⁴Eligible direct deposits are either electronic payroll or federal payments (i.e. Social Security); OR $1000 or more in deposits per month. Members aged 12-22 are exempt from direct deposit requirement.
See CoVantagecu.org for full details. Federally insured by NCUA.

 

Change It Up Debit Card Automatic Saving Program Eligibility
The member must have an open and active CoVantage Visa debit card, CoVantage checking account, and a membership share (savings) account to be eligible for Change It Up debit card automatic savings program.

Enrollment
A member may enroll/unenroll in Change It Up at any time in MyCoVantage or may enroll/unenroll in the program with a Member Specialist at any branch or over the phone. Participation in the program is at the account level, which means all debit card associated with the checking account will be part of the program. You cannot enroll or remove individual debit cards associated with your checking account. If you enroll and later receive a new debit card due to your card being lost, stolen, or reissued, your participation in the program will continue.

How it works
Following the member's enrollment in the program, each purchase made by the member with his or her CoVantage Visa debit card will be rounded up to the nearest whole U.S. dollar. The round up amount (between $0.01 and $0.99) will then be transferred from the member's checking account balance to the member's savings account balance. This transfer is referred to as a " Change It Up Transfer."

What is a qualifying purchase? Any card-present signature purchase or Personal Identification Number (PIN) purchase transaction made using a CoVantage Visa debit card. What is not a qualifying purchase? Any cash withdrawal from an ATM or over-the-counter cash withdrawal; bill payment transactions using MyCoVantage; cash back received at a point-of-sale device; MyCoVantage online transfers between checking and savings; and electronic one-time or recurring ACH debit transactions.

Transfer Timing
CoVantage Credit Union will aggregate the round-up from CoVantage Visa debit card purchases that post to your checking account each day and make a single transfer to the savings account the following day. Transfers will only take place if a member has a checking balance of at least $50, prior to the transfer occurring. If a transfer is cancelled on a certain day because of the minimum balance requirement, Change It Up transfers will resume on the next day that balances in the member’s checking are over $50.

Exceptions

• A Change It Up transfer will not be made if a purchase transaction consists of a whole dollar amount, e.g., $5.00.
• If a member's purchase is canceled or reversed for any reason (including disputes), the corresponding Change It Up transfer will not be reversed.
• Load n'Go, HSA, and business debit cards cannot be enrolled in the Change It Up program.

Enrolled CoVantage debit cards, checking accounts and savings accounts will be subject to all existing requirements and limitations for accounts of that type. CoVantage Credit Union reserves the right to cancel or modify the Change It Up debit card automatic savings program, or terminate the member's eligibility, at any time with or without prior notice.

• Fees and categories of transactions: CoVantage does not charge overdraft or NSF fees. There is no fee for the payment of each overdraft, regardless of the overdraft transaction type. 
• Repayment Timeframe: You must repay or cover any overdraft within 21 calendar days to avoid account restrictions or closure. 
• Non-Payment Circumstances: Whether your overdrafts will be paid is discretionary, and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts. 

MaxYield Relationship – Terms & Conditions 

Eligibility Requirements 

To establish and maintain a MaxYield relationship, all of the following requirements must be met each month. Requirements are for one account only and not cross account activity. 

1. Required Accounts 
   You must have a Membership Savings Account, and CoVantage Checking Account. Both accounts must be open and in good standing (members do not have delinquent loans, repeated overdrafts, or negative balances). 

1. Eligible Direct Deposit 
   Your checking account must receive at least one eligible direct deposit within the preceding 34 calendar days. An eligible direct deposit includes a)  

• electronic deposits such as payroll, pension, and government benefit payments (such as Social Security) processed via the Automated Clearing House (ACH) network; or b)  

2. total deposits of $1,000 or more made via cash or check at a CoVantage branch, Virtual Teller ATM, or mobile check deposit through MyCoVantage. 

The following do not qualify: ACH transfers, peer-to-peer payments (e.g., PayPal, Venmo, CashApp), or one-time deposits such as tax refunds or similar transactions. 

Members ages 12–22 are exempt from the direct deposit requirement. 

3. Debit Card or Credit Card Requirement 
   You must have an active CoVantage debit card or a CoVantage credit card. 

4. Monthly Transaction Requirement 
   Each month, you must complete either at least four (4) debit card purchase transactions, or at least four (4) credit card purchase transactions using a CoVantage credit card. This includes debit and credit card point of sale purchases, online and digital wallet transactions, bill payment, and ATM transactions. Transactions must post and settle during the monthly qualification cycle.  

Qualification Cycle and Benefit Application 

MaxYield qualification is evaluated on an ongoing basis using a monthly qualification cycle. Benefits associated with the MaxYield relationship are applied only for periods in which all the above eligibility requirements are met. Benefits are not applied retroactively. CoVantage reserves the right to add or remove MaxYield benefits based on qualification status without prior notice, as permitted by law. 

Access to Additional Products and Services 

While maintaining a MaxYield relationship, you may be eligible for the following benefits. Additional eligibility requirements may apply. If you no longer meet MaxYield requirements, access to these benefits may be removed. 

1. Higher Savings APY 

Members with an active MaxYield relationship receive a higher interest rate and APY on their CoVantage Savings Account than the standard rate. When MaxYield requirements are met, the higher MaxYield APY applies to your primary membership share savings account balance only. If requirements are not met for the monthly qualification cycle, dividends for that monthly cycle are paid at the standard savings account rate, and the higher MaxYield APY is not applied retroactively. 

APY (annual percentage yield) is subject to change based on the applicable rate sheets. Current rates and APYs are available at covantagecu.org. Dividends are compounded and credited in accordance with the Membership and Account Agreement. 

2. Early Direct Deposit 

This service is offered solely for personal accounts and is subject to the Membership and Account Agreement. Eligible members may receive direct deposit funds up to two days early, depending on the timing of payment file receipt from the payer. Early availability is not guaranteed and may differ by pay period.  

CoVantage’s Early Direct Deposit program may make certain direct deposits accessible one or two days prior to receiving funds from the payer. Early Direct Deposit is not guaranteed, may vary by pay periods, and CoVantage reserves the right to discontinue this service at any time without advance notice. The ability to provide early access depends on various factors, including the timing of payment notification from the payer. Members are responsible for confirming that funds are available in their account before making transactions. If a deposit is delayed, returned, or reversed by the payer, funds made available early may be removed from your account and you are responsible for any negative balance. Standard funds availability rules apply to all other deposits.  

Not all deposits qualify for Early Direct Deposit. Other forms of deposits or credits—including person-to-person payment services (e.g., Zelle®, Venmo, PayPal transfers), check deposits, mobile banking, instant payments through the RTP® network or FedNow, and other internet transfers—do not qualify for Early Direct Deposit. Eligible transactions may include electronic deposits such as payroll, pension, and government benefit payments (such as Social Security) via the Automated Clearing House (ACH) network.  

Interest or dividends on Early Direct Deposit funds will begin accruing on the settlement date, not the date the funds are made available early. 

3. Share Certificate Rates 

Access to the best available rates on new CoVantage Share Certificates opened while MaxYield requirements are met. “Best available” refers to the highest certificate rate offered by CoVantage for the applicable term at the time the certificate is opened. All certificates are subject to standard terms, conditions, and early withdrawal penalties as disclosed in the Membership and Account Agreement. 
 

4. Best Available Loan Rates 

Members qualified for MaxYield Checking and Savings accounts receive best available loan rates on secured and unsecured personal loans, including vehicle and RV loans. All rates and terms are subject to CoVantage’s standard underwriting criteria and rates may vary based on creditworthiness, loan term, collateral, and other factors. MaxYield benefits apply at loan origination only and do not guarantee loan approval or override any underwriting requirements. Best available loan rates do not include commercial, mortgage, home equity, credit cards, or Kwik Cash loans. If MaxYield requirements are not maintained, preferential pricing may not be available on future loan requests. 

Changes to Terms 

We may amend these MaxYield terms at any time, unless otherwise required by law. Continuing to maintain your MaxYield relationship after changes become effective constitutes acceptance of the revised terms.