Bonus Saver FAQs
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It can feel overwhelming to even know where to start saving. That’s why Bonus Saver was created. You get rewarded for putting money into savings AND for not spending it. These FAQs can help you understand all the in’s and out’s of your Bonus Saver account in order to maximize your savings.
How does Bonus Saver work to help me build savings?
Bonus Saver is unlike any other savings account. With as little as $25/month, Numerica will pay you as much as 2.00% APY to save.
What is the savings account interest rate?
- Deposit BONUS – 1.00%* APY on balance after six consecutive months. Members will keep earning this bonus as long as they keep making monthly deposits of at least $25. Up to $2,500! It’s a savings account that kicks the other guys’ in the coin.
- No withdrawal BONUS – Members earn an additional bonus rate of 1.00%* APY for not making withdrawals for six consecutive months. You’ll keep earning this rate as long as you don’t make any withdrawals.
What happens if I need to withdraw money from my Bonus Saver account? What if I don’t deposit $25 in a month?
We get it. Life is in constant motion and things come up. If you miss a month of depositing at least $25 or need to take money out of the Bonus Saver account, you still earn dividends on the account of 0.05%* APY.
If you put in at least $25 and then have to withdraw it, you earn 1.00% APY bonus plus the 0.05% APY of the savings account.
Need to take money out to cover that unexpected bill? No worries! You still would earn 1.00% APY on the account if you made at least that $25 deposit plus the 0.05% APY.
What happens after the six months are up?
You earn the money for all your previous months of work. If you’ve met the requirement for either bonus, you will earn that rate – 1.00% APY for deposits and 1.00% APY for no withdrawals, so a BONUS rate of up to 2.00% APY or a total annual percentage yield (APY) of up to 2.00%* APY. Then you will keep earning that rate as long as you meet the criteria up to $2,500.
When do my Bonus Saver savings dividends kick in?
Every month you earn the 0.05% APY – just for having the account with Numerica. On month seven, you get your bonus on the account. 1.00% APY for no withdrawals and/or 1.00% APY for deposits of $25 or more per month. This continues each month building on the previous balance.
How can I make my money grow the fastest with Bonus Saver?
Excited to get those savings going? Make the most out of your Bonus Saver account with continuous deposits of $25 or more and no withdrawals to maximize your 2.00% APY.
Do I need to keep a minimum balance?
Nope. You just need a minimum deposit of $25 to open the account, but there isn’t a minimum balance to keep it open. Also, no monthly fees!
Can I open more than one Bonus Saver account?
There is a limit of one Bonus Saver account per person.
*Here's the legal stuff: APY = Annual Percentage Yield. Rates effective as of the last dividend declaration date and are subject to change after account opening. Fees may reduce earnings. Earn 2.05% APY on the first $2,500 when Bonus Saver qualifiers are met during each 6-month qualification cycle: (a) each month, deposit $25 or more to your Bonus Saver account (in aggregate), and (b) do not make any withdrawals from your Bonus Saver account. Earn 0.05% APY when both qualifiers are not met (non-qualifying rate) or on balances $2,500.01 and above. Earn 1.05% APY on the first $2,500 when one, but not both, of the Bonus Saver qualifiers are met. The minimum opening deposit required for this account is $25. Limit one Bonus Saver account per person.
A monthly fee will be charged for paper statements (one fee per membership number). Members can avoid this fee by enrolling in eStatements for their accounts through Online Banking or the Mobile App. Please see Fee Schedule for more information.
