MoneyPerks®
With MoneyPerks, you accumulate points by using our savings, loan and online services. Redeem your points for valuable extras like CD bumps, loan discounts or fee waivers.
Benefits:
- Earning MoneyPerks is easy
- 1 Point per month per $1 interest you pay on loans
- 1 Point per month per $1 in dividends you earn on savings
- 50 Points per month for using e-Statements (NEW starting January 1, 2011!)
- 50 Points per month for using direct deposit of $500 - $999 (NEW starting January 1, 2011!)
- 100 Points per month for using direct deposit of $1,000 or more (NEW starting January 1, 2011!)
- Earn bonus MoneyPerks for referring a member to Michigan First
- 1,000 Points for you each time you refer friends or family1
- 500 Points for your referred friend or family member1
- Referring is easy -- download the referral form now
- Redeem your MoneyPerks for these rewards
- Lower your loan rate up to 0.75%2
- Raise your CD rate up to 0.50%
- Waive a service fee (see chart below)
- Your MoneyPerks balance is listed on your statement and in Online Banking
- If you’re 18 – 25 years old, earn double MoneyPerks on eStatements and Direct Deposit usage with the First Gear Account
MoneyPerks Rewards Chart
| Rewards |
Points Needed to Redeem |
| Certificate Yields |
| +0.25% Bump |
5,000 per CD |
| +0.50% Bump |
7,500 per CD |
| Loan Rates2 |
| -0.25% Discount |
5,000 per Loan |
| -0.50% Discount |
7,500 per Loan |
| -0.75% Discount |
12,000 per Loan |
| |
|
| Fee Waivers |
Points Needed |
| Account History (At Branch) |
500 |
| Card Re-Order (Lost/Stolen) |
1,000 |
| Cash Withdrawal (Service Center) |
500 |
| Check Copy |
500 |
| Check (1 standard Michigan First box) |
1,250 |
| Extension Agreement |
2,500 |
| ID SafeChoice |
5,000 |
| MoneyNow® |
1,250 |
| Money Order |
500 |
| Non CO-OP ATM Fee |
500 |
| NSF/Overdraft |
1,250 |
| Official Check |
600 |
| Official Check Copy |
500 |
| Official Check Stop Payment |
1,250 |
| Outgoing Wire Transfers |
1,000 |
| Overdraft Transfer from Savings |
500 |
| PIN Re-Order |
500 |
| Return Electronic Deposit/Withdrawal |
1,250 |
| Safe Deposit Box 3x5 (Annual Fee) |
2,000 |
| Safe Deposit Box 3x10 (Annual Fee) |
3,000 |
| Safe Deposit Box 5x10 (Annual Fee) |
6,000 |
| Safe Deposit Box 10x10 (Annual Fee) |
8,000 |
| Sales Draft Copy |
500 |
| Statement Copy |
500 |
| Stop Payments |
1,250 |
| Minimum Balance Fee |
500 |
| Personalized Card (when available) |
1,000 |
| Skip a Pay |
2,500 |
| Skip a Pay - Home Equity |
4,000 |
1 To be eligible, current member must be in good standing, and new members over the age of 18 must open a checking account with direct deposit of $500 or more per month. Direct deposit must begin within 90 days of account opening. Points will be credited to accounts within 30 business days after the direct deposit begins. New members under the age of 18 must open a savings account with $100 minimum balance. Friends must meet membership requirements.
2 Rate discounts cannot be applied to mortgages or credit cards or combined with other offers. Maximum loan rate discount is 0.75% (new loans only). Maximum CD yield bump is 0.50% (new CDs only). Subject to credit approval. Cannot redeem points for late fees. Must be a member in good standing to redeem. For details, please contact the credit union. Michigan First Credit Union reserves the right to change or cancel the program at any time. MoneyPerks points have no direct cash value.
Rates and yields listed on this page are examples only, and do not necessarily reflect current credit union rates or yields. Savings and earnings are examples, and will vary based on balance, rate, terms and portfolio. For rates, yields and payment details, please contact the credit union. APY = Annual Percentage Yield. APR = Annual Percentage Rate. APR is based on credit score. The better the credit, the better the rate. Home equity loan example is based on a 15 year closed end home equity loan. Michigan First Credit Union reserves the right to change or cancel the program at any time. See the credit union for details on all offers. MoneyPerks® points have no direct cash value.
