Drive Revenue and Increase Efficiency with Reward Checking

In today’s financial environment, your credit union is under constant pressure to find new ways to stay competitive, drive revenue, and operate more efficiently — all without losing sight of your core mission: serving members.

Reward Checking is a smart, strategic way to meet these goals.

At its core, Reward Checking is about aligning member behavior with financial performance. It encourages members to engage with your credit union’s digital tools and debit card services — behaviors that lower your costs and boost your income.

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What is Reward Checking?

Reward Checking is a type of checking account designed to reward members for engaging with their credit union’s preferred services and behaviors. In exchange for meeting certain activity requirements, members can earn valuable perks.

At its core, Reward Checking is a win-win:

Members enjoy meaningful financial benefits, while credit unions benefit from lower operating costs and new income sources like debit card interchange revenue.

By encouraging digital adoption and increased card usage, Reward Checking helps credit unions operate more efficiently, drive revenue, and strengthen member loyalty — all while staying true to the mission of putting members first.

How Can Credit Unions Increase Revenue and Efficiency with Reward Checking?

Reward Checking isn’t just about giving members a few extra perks. It’s a program that transforms everyday member actions into meaningful financial results.

When members:

• Enroll in and use Internet Banking

• Opt for eStatements over paper statements

• Make frequent PIN-based debit card purchases

Your credit union benefits in two major ways:

Reduced operational costs — eStatements eliminate printing and mailing expenses, and online banking reduces branch traffic and manual service demands.

Increased non-interest income — Each debit card transaction generates interchange fee revenue, creating a reliable, growing income stream without raising rates or introducing new charges to members.

Simply put:

The more members use your digital services and debit cards, the more efficient and profitable your institution becomes.

Keep reading: Cut Costs and Increase Revenue by Improving These 7 Key Ratios

What Rewards Can Members Get with a Reward Checking Account?

With Reward Checking, members are incentivized to adopt the behaviors that benefit both themselves and the credit union.

When they meet program criteria, members can enjoy:

• Higher dividend rates on checking balances

• Refunded foreign ATM fees (within set limits)

• Increased overdraft protection

• Waived custom transaction fees

• Cash-back rewards on card purchases

These rewards feel meaningful to members — while also reinforcing the activities that drive your revenue and efficiency goals.

Is Reward Checking a Sustainable Growth Strategy for Credit Unions?

The beauty of reward checking is its sustainability. Instead of relying solely on loan growth or fee increases, you create a self-funding system:

• Members feel recognized and rewarded.

• Your credit union benefits from healthier cost structures and new fee income.

• Relationships deepen, loyalty grows, and long-term profitability improves.

It’s a model that fits perfectly with the credit union philosophy: members helping members, while strengthening the financial health of the entire institution.

Maximize Your Impact with FLEX Reward Checking

Reward Checking isn't just another account option — it’s a strategic tool to drive operational efficiency and boost non-interest income through smarter member engagement.

By rewarding members for behaviors that naturally reduce your costs and grow your revenue, your credit union can deliver greater value, stay competitive, and build a foundation for sustainable success.