Newsletter 2024 V3 Article -Are You Making the Most of Your Purple Card?
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But interest aside, are you making the most of your swipes?
In addition to the competitive dividend rate, every UMassFive debit card comes with uChoose Rewards, which gives you the ability to earn cash back on the balance of each and every one of your purchases.** That means your grocery purchases and online shopping are earning cash back, and all of that balance is also earning dividends four times faster than at other local banks.
In order to receive your uChoose Rewards, you need to enroll in uChoose manually and create a uChoose login to approve linking the rewards to your card. This can be done by accessing the rewards function of your card management in Mobile and Online Banking by tapping on Cards or clicking on My Cards, and following the prompts to enroll your card.
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*Annual Percentage Yields (APYs) of 12 local financial institution checking accounts were obtained by online research conducted by UMassFive, with the average checking account APY being 0.12% as of August 23, 2024 UMassFive’s Co-op Advantage Checking top APY earns .50% on balances up to $15,000 for qualifying accounts. 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.
**uChoose Rewards points accumulate automatically for all card purchases, and post at the start of each month. Points 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.