With a competitive dividend rate and ATM charge refunds across the country, plus cash back through uChoose Rewards, find out firsthand what makes our Co-op Advantage Checking Accounts so good.
It's no big deal. Any month that you don't qualify, all that will happen is your account will earn our basic dividend rate, ATM fees will not be refunded, and you can try again next month. We'll even send you an email every month so you can keep track of how you're doing.
Every month that you qualify, you'll earn 0.50% APY* on your first $15,000 in Co-op Advantage Checking Account, which is 4x the local average dividend rate.**
Accounts that don't meet the monthly requirements will still earn our basic dividend rate, and as soon as you meet the requirements again, you'll automatically receive our rewards rate again.
We will never charge you for an ATM withdrawal, but other financial institutions might.
Make withdrawals with the peace of mind that you will get the money back at the end of the month, on us.
There's no minimum balance, so whether you have $5 or $500, you will get the same great benefits from this checking account, every day.
All you need to do is meet these three requirements per month:
Enroll in uChoose rewards so you can start earning points on every card transaction—you'll earn 0.5 points on every $1 spent that you can redeem for cash back!
Access uChoose by logging into Online Banking or our mobile banking app. Navigate to My Cards, then click Rewards.
| Balance | Dividend Rate | Annual Percentage Yield |
|---|---|---|
| For qualifying accounts with balances up to $15,000 | 0.50% | 0.50% |
| On balances over $15,000 on qualifying accounts | 0.10% | 0.50% - 0.11% |
| If qualifications are not met | 0.03% | 0.03% |
| Rates subject to change at any time. Rates effective as of August 3, 2026. APY is accurate as of the last dividend declaration date., |
Resources:
Financial Knowledge:
Rates subject to change at any time. Rates effective as of August 3, 2026. APY is accurate as of the last dividend declaration date.
| Service | Co-op Advantage Checking | Simple Checking |
|---|---|---|
| High-earning dividend rate | ★ | |
| Nationwide ATM fee refunds up to $10 per calendar month | ★ | |
| No minimum balance | ★ | ★ |
| Free UMassFive ATM use | ★ | ★ |
| Free VISA Debit Card with unlimited transactions | ★ | ★ |
| Free ATM withdrawals at non-UMassFive ATMs | ★ | ★ |
| Mobile Wallet compatibility | ★ | ★ |
| Overdraft Protection* | ★ | ★ |
| Premium Overdraft** | ★ | ★ |
*Optional Overdraft Protection - A share transfer option and a line of credit option are available.
**Premium Overdraft - A privilege provided to eligible members that allows them to overdraw their checking account so that checks and other items are not returned ("bounced"). In most cases, Premium Overdraft is offered to members in good standing immediately after a new checking account has been opened.
Overdraft and Premium Overdraft Policy Information
Simply meet the following free and easy requirements for each monthly qualification cycle. If you don’t meet the requirements, don’t worry. There’s no penalty and you can work towards meeting them next month:
*0.50% Annual Percentage Yield (APY) Rewards Rate paid on accounts meeting above requirements with balances up to $15,000. 0.50% - 0.11% APY is paid each qualifying calendar month above $15,000. For any nonqualifying months, your account will earn 0.03% APY; you will not receive ATM charge refunds for that month. Rates are subject to change. Offer limited to Co-op Advantage Checking Personal Accounts. No monthly service charge when enrolled in eStatements. Free Online Bill Pay. Service charges could reduce the earnings on this account.
** APYs of twelve local financial institution checking accounts were obtained by online research conducted by UMassFive, with the average checking account APY being 0.12% as of June 6, 2025. APYs used from local financial institutions are based on the highest rate available on any consumer checking account, regardless of account balance and/or qualifications. Local is defined as the financial institution having a branch presence in one or more of the following Massachusetts counties: Berkshire, Franklin, Hampden, Hampshire, or Worcester. Rates are subject to change without notice. Please contact us to obtain further information on the sources used to obtain average checking account APYs.
^ Qualifying accounts with be refunded up to $10 each calendar month for any ATM charges imposed. To qualify for this refund, you must have at least 1 Direct Deposit or ACH Auto Debit to your share draft checking, enroll in eStatements through Online Banking, and make at least 12 debit card purchases.
# uChoose Rewards points accumulate automatically for all card purchases once debit card is enrolled in program. Points post at the start of each month, and can be redeemed for rewards at any time via Online or Mobile Banking. Balance transfers and cash advances not eligible for points accumulation. See uChoose terms & conditions for additional information.
