Unlock Your Financial Potential

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. See the Early Direct Deposit page for full details.
⁴Direct deposit must be into a CoVantage checking account. Eligible direct deposits are ACH payments defined as payroll or federal payments (i.e. Social Security); or $1,000 or more in deposits per month. Members aged 12-22 are exempt from direct deposit requirement.

MaxYield Relationship – Terms & Conditions 

I. 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. 

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). 

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 defined as payroll, defined as pension, and government benefit payments (such as Social Security) processed via the Automated Clearing House (ACH) network; or b) total deposits of $1,000 or more made via 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. 

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

Monthly Transaction Requirement  
During each qualification cycle 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/ITM transactions. Transactions must post and settle during the qualification cycle of 34 days prior to the last calendar day of the month.  Card transactions that post on the last day of the month will be included in the next qualification cycle’s transaction count. 

Qualification Cycle and Benefit Application 

MaxYield qualification is reviewed on an ongoing basis using activity from the 34 days leading up to—but not including—the last calendar day of the month.  Transactions on the last calendar day of th emonth will be included in the next 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.

II. 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. 

Higher Savings APY 

Members with an active MaxYield relationship receive a higher dividend 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. 

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.

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.  

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

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. 

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. 

Important information about procedures for opening a new account.

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.