An Innovative Approach to Growing Core Deposits

In today’s financial industry, growing deposit relationships and encouraging members to save is a strategic approach to fostering financial stability and long-term growth for both individuals and financial institutions. Maintaining core deposits is equally critical for credit unions to succeed and expand in this competitive environment.


In order to efficiently grow core deposits and optimize competitiveness, AmeriCU Credit Union recently introduced an array of exciting rewards with the rollout of their new checking account program. Members can receive exclusive perks, cashback offers, and other enticing incentives designed to make banking not just convenient but rewarding. The credit union’s recent enhancements to its checking accounts have not only been a rewarding experience for members but also set a new benchmark for innovation in the financial services industry.


Adding Rewards to Everyday Spends

AmeriCU streamlined their checking accounts to meet members’ needs. Members can now pick their perks between earning dividends or rewards. AmeriCU’s Rewards Checking Account is designed for members who actively use their debit card. Members earn points on every signature-based debit card swipe can redeem points for cash back, gift cards, merchandise, discounted gas and more. AmeriCU’s High Rate Checking Account allows members to earn more on their funds. Members can earn dividends on up to $10,000 every month. Based on current rates, members can earn over $400 in dividends on a balance of $10,000 in just one year.


With these new checking account programs, members gain access to a suite of financial tools, ensuring seamless transactions, account-to-account and person-to-person payment solutions, and day-to-day money management. Members can also get paid one day early with a qualifying direct deposit. Upon enrollment, all checking accounts come with free e-statements. No minimum opening deposit required.


There is only upside to members with these new products as there are no monthly maintenance fees or minimum balance requirements. If a member does not qualify that month, they simply do not earn the high rate or rewards for that month. But the next month represents another opportunity for them to earn. Members also get up to $25 in ATM fee reimbursements when they meet the monthly qualifying criteria.


AmeriCU is committed to helping their members on their financial journey. With these new checking account options, members gain the confidence and flexibility to achieve their financial goals. This member first strategy has generated significant interest among members who are looking to extract greater value from their banking interactions.


Find the Right Partners is Key to Success

In a rewards-based society, utilizing a platform similar to those offered by major retailers and fintechs helps the credit union remain relevant and competitive in the market. Many financial institutions tend to go with their credit card processor for a rewards program. Partnering with Amplifi has been a highly rewarding experience for AmeriCU. Amplifi’s innovative solutions and unwavering commitment to financial rewards have significantly enhanced the credit union’s capabilities and offerings. One standout feature is their real-time rewards program, allowing members to redeem rewards instantly at the cash register or gas pump. This unique feature has set AmeriCU apart from competitors and has gained positive feedback from their members. The ability to offer rewards in real-time has not only increased member satisfaction but has also boosted loyalty and engagement. The partnership with Amplifi has truly been driving tangible results and delivering value to members.


How Credit Unions Can Benefit from Adopting Similar Programs

AmeriCU understands the importance of staying connected to its members. Identifying trends and changing needs of the financial market is not just important, it is also critical. So is knowing how members want and need to connect and interact with their financial institution. Having this level of knowledge can ensure you are providing the services and technology capabilities necessary to remain relevant as well as provide your organization an opportunity to expand. Having a clear understanding of your market also gives a solid foundation towards developing products and services that meet members’ needs.


Collecting market data is essential for making informed business decisions and staying competitive in the industry. AmeriCU has found there are several ways to collect market data. The credit union regularly provides surveys and encourages member feedback to ensure the credit union understands what members are looking for in the way of product and services, member service expectations, and ease of doing business. Other financial institutions should consider similar enhancements to their checking account features. These new products represent a positive trend in the industry, where credit unions are increasingly focused on delivering personalized, rewarding, and secure experiences for their members as well as driving core deposits, member retention, and non-interest income from card swipes.


“The timing was critical for the cognitive shift from non-core deposits to core deposits, as it aligns with the conducive economic climate. These new product enhancements allow us to return savings to our members and reward them for doing business with us. AmeriCU is committed to driving positive change and setting a new standard for financial excellence,” states Kristy Nole, AVP of Marketing at AmeriCU. “Our goal is not only to meet but exceed member expectations, and we believe that by continuously innovating and evolving our offerings, we can inspire other credit unions to deliver even greater return to their members while driving their KPIs.”


AmeriCU’s Rewards Checking Account and High Rate Checking Account exemplify the credit union’s commitment to bringing their members best-in-class products and services. By enhancing their checking accounts, AmeriCU offers the flexibility and convenience necessary to attain financial success. The checking account launch was successful because employees embraced the new products with energy and excitement, creating a positive impact that resonated with members. In the first month, there were 355 new accounts in addition to 2,206 conversions to new checking accounts. The response from members has been overwhelmingly positive.


AmeriCU’s success in enhancing its checking account features serves as a catalyst for positive change across the industry. By prioritizing members’ needs and fostering innovation, AmeriCU is paving the way for a brighter, more rewarding future in banking. The credit union takes pride in helping other organizations achieve their goals and is always there to offer tips and lend a hand.


AmeriCU & You. Let’s Connect. For more information on AmeriCU, visit or call 800.388.2000.


Membership Eligibility Required. Equal Housing Lender. Insured by NCUA.


About Author:
Alycia Schick, a Public Relations and Communications Specialist for AmeriCU Credit Union, utilizes her diverse background in marketing and community engagement to foster community connections through her writing. With more than 18 years of experience, she has a demonstrated history of crafting engaging narratives and executing effective communication plans. Alycia can be reached directly at

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