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High Interest Checking

Get more from your money with a High Interest Checking Account.

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High Interest Checking Dividend Rate  APY 
Balances up to $20,000 1.98% 2.00%
Balances greater than $20,000 0.10% 2.00% – 0.86%**
Non-Qualifying Rate 0.05% 0.05%

High Interest Checking Account pays dividends using blended rate tiers meaning the stated dividend rate will be paid on the portion of the balance for each tier. The Annual Percentage Yield (APY) for Tier 1 is 2.00% on balances up to $20,000.00 and the **Tier 2 APY ranges from 2.00% to 0.86% on balances from $20,000.01 to $50,000.00. To earn Tier 1 or Tier 2 dividend rates, 15 qualifying transactions must post per statement cycle on the account. The statement cycle includes all transactions posted after the last business day of the prior month through the last business day of the current month. Accounts not meeting the qualifying transaction threshold will earn 0.05% APY. Rates accurate as of November 1, 2026. All rates are variable and may change without notice at any time. Only the following are qualifying transactions: Debit card purchases, checks, bill payments, ATM withdrawals and ACH withdrawals. No other transactions qualify. At least one account holder must be at least 18 years old. Fees may reduce earnings.

Questions?

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High Interest Checking

Our most popular checking account.

KEY FEATURES

  • Unlimited transactions
  • First 40 checks FREE
  • No monthly Maintenance Service Charge when enrolled in electronic statements
  • No minimum balance
  • Visa® debit card with the convenience of paying at retailers with a tap, a swipe, or a chip
  • Online check images
  • FREE access to credit score

Calculate Your Earnings

MAY BE A GOOD CHOICE IF

  • You want the flexibility of a traditional checking account while you earn dividends
  • You typically maintain a high daily balance
  • Trade-off: The ability to earn dividends requires 15 qualifying transactions each statement cycle (such as using your debit card)

Compare Checking Options

Get a Debit Card that is So You

Choose from three debit card options when you apply for your checking account:

  • Elements — Our standard debit card style
  • Butler University — Back the Bulldogs every time you use it
  • Indianapolis Indians — Show your support for Indianapolis’ Minor League baseball team

What are the advantages of a High Interest Checking Account?

Well, with a name that includes the words “high interest,” how could it not be our most popular checking account? It’s a great choice if you typically maintain a high daily balance and want the flexibility of a traditional checking account while you earn dividends. Other perks: unlimited transactions, no minimum balance, and no monthly Maintenance Service Charge when you enroll in electronic statements.

Dividends

  • Earn 2.00% APY on balances up to $20,0001 and competitive dividends on the portion of balances greater than $20,0001

  • You can earn those premium dividends with just 15 qualifying transactions per statement cycle (such as using your debit card)

Great Features

  • Unlimited transactions
  • No minimum balance
  • No monthly Maintenance Service Charge when enrolled in electronic statements
  • Real-time fraud alerts
  • Online check images
  • Can be connected to Apple Pay, Google Pay, Samsung Pay, and other digital wallets

Convenience

  • Visa® debit card with security chip 
  • Access to more than 85,000 surcharge-free ATMs worldwide
  • Shared branch access at more than 5,600 branches nationwide
  • Lost debit card? No problem. Just freeze it from anywhere using Card Controls.
  • The convenience of direct deposit of payroll or federal benefits

Extras

Open an AccountCompare Checking Options

How does High Interest Checking compare to other checking options?

Is High Interest Checking for you? Compare it to our other options below.

  High Interest Checking Basic Checking Student Edge Checking
  Open an Account Open an Account Open an Account
Key Benefits

Eligible to earn dividends with only 15 qualifying transactions per statement cycle

Multiple overdraft protection options

First 40 checks FREE

No minimum balance requirements

Multiple overdraft protection options

First 40 checks FREE

For students ages 10 to 24

No minimum balance requirements

No overdraft fees
A Good Option If You

Want the flexibility of a traditional checking account while you earn dividends

Typically maintain a high daily balance

Use direct deposit, have estatements on the account, are 50 or older, or under age 25 — no monthly fee!

You don't want to have to maintain a minimum balance

Are a student that wants the flexibility of no minimum balance with the security of no overdraft fees

Want to teach your child how to manage their money
Annual Percentage Yield (APY)

2.00% APY on balances up to $20,000

 — —
Unlimited Transactions
No Minimum Balance
Monthly Maintenance Service Charge

$0 when enrolled in estatements!

Otherwise, $5 per month

$0 if you set up direct deposit, maintain a balance of $10,000 in your Elements accounts, or are age 50 or older or under age 25

Otherwise, $5 per month

$0
Monthly Statement Print Service Charge — A $5 monthly Statement Print Service Charge will apply to Basic Checking accounts receiving paper statements. This fee can be avoided by switching to free eStatements. —
No Overdraft Fees — —
First 40 Checks Free
  Open an Account Open an Account Open an Account

What fees can I expect?

No Maintenance Service Charge

The High Interest Checking Account has NO monthly Maintenance Service Charge when you enroll in electronic statements. If you prefer to have paper statements mailed to you, your account will be assessed a $5 Maintenance Service Charge each month.

Overdraft Fees

An overdraft occurs when you do not have sufficient available funds (Available Balance) in your account to cover a transaction. In that case, we cover the overdraft and charge your account a fee of up to $25 each time we pay an overdraft. There is no limit on the total fees we can charge you for overdrawing your account. Learn more about overdraft coverage.

Ordering Checks

There might be times when you need to write an actual paper check, so it’s good to have some on hand. Your first 40 checks for your new checking account are FREE. Check orders for Elements Financial members over 50 years of age or retired are free, as well. After your first 40 checks, you may reorder checks for your account. Checks typically range from $14 to $30 per 80 checks. Call us for specific check printing pricing and reorders at 1-317-276-2105.

Other Possible Fees

There are small fees for requested transactions, such as asking for an account history printout or rushing a debit card replacement. You can view these and other fees within the Agreements & Disclosures page. 

What overdraft coverage comes with my account?

Elements authorizes and pays overdrafts from checks and automatic bill payments. We will charge you a fee of up to $25 each time we pay an overdraft. To avoid overdraft fees, you can set up an auto-transfer of money from one of your Elements accounts to the other to match the exact amount of your overdraft. There is no fee for this service.

How to Set Up Auto-Transfer for Overdrafts


Elements does not authorize and pay overdrafts for ATM transactions and everyday debit card transactions unless you ask us to by signing up for Overdraft Privilege Extended Coverage.

Overdraft Protection

Is Elements Digital Banking easy to use?

Yes!

It’s easy to do your banking and budgeting with Elements — no matter where you are. Our goal with digital banking is simple: to provide you with a state-of-the-art digital banking experience that you can count on and is consistent across all devices.

With Elements Digital Banking you can:

  • Check your balances, make loan payments, and transfer money between accounts
  • Deposit checks using your phone or computer camera
  • View check images online
  • Pay your bills online 24/7/365
  • Review your account history with a 14-month electronic archive of statements
  • Locate branches and ATMs near you
  • See your credit score with any checking account or loan
  • Pay friends and family conveniently with Zelle® plus other digital wallet options
  • And more

Learn More about Digital Banking

I like to use digital wallet options (like Apple Pay) to pay for things. Does Elements offer that?

Yes! Elements offers a variety of digital wallet options to help add security and simplicity to your life—and we are constantly adding even more options. For instance, your debit card lets you make payments from your checking account via:

  • Apple Pay
  • Google Pay
  • Samsung Pay
  • PayPal
  • Zelle®
  • Amazon Reload
  • This logoanywhere Visa is accepted online

Why should I choose Elements for my checking account?

Like a Bank, Only Better!

Better Rates. Fewer Fees.

Because we’re a credit union, we return profits to members in the form of reduced fees, higher savings rates, and lower loan rates.

Trusted Advice. Fresh Approach.

We pride ourselves on being a trusted source for financial education. Your financial wellness expert will come to your workplace to answer questions and provide you with 1-on-1 assistance as you navigate the changes that come with each of life's stages.

Respected Locally. Accessed Globally.

Headquartered in Indianapolis since 1930, we rank among the top 5% of credit unions nationally2. We serve members in all 50 states and 50+ countries. You’ll have access to 5,600+ shared branches nationwide and 85,000+ surcharge-free ATMs globally.

High Tech. Human Touch.

Our technology makes banking with Elements easy. From quick online applications to digital banking, we’ll be by your side wherever you go. We’re here for you with member service available 24/7 and live chat during the workday.

Get Started

How do I open an account?

Getting started is as easy as 1-2-3!

  1. Open an account online - Open an account online in as little as 10 minutes. Or call 1-800-621-2105 to get started. Have your government-issued ID (driver’s license, state ID, or passport) and your Social Security number ready.
  2. Check your email - You will receive an email within one business day to notify you of account approval. That’s it! Your High Interest Checking Account is now open.
  3. Enroll in Digital Banking - Easily check your balances, make loan payments, pay bills and transfer money between accounts from your smartphone, tablet, laptop or desktop. Learn more about Digital Banking.

Open an Account

How do I order or reorder checks for my account?

Initial Orders

Your first 40 checks for your new checking account are FREE. Check orders for Elements Financial members over 50 years of age or retired are free, as well. Our check company, Harland Clarke, offers a variety of check styles. You may view a catalog online or at any of our locations. Initial orders must be made via our Financial Wellness Experts directly either at the branch or by calling 1-800-621-2105.

Reordering Checks

After your first 40 checks, you may reorder checks for your account. Visit our Order Checks page to place reorders. Checks typically range from $14 to $30 per 80 checks. Call us for specific check printing pricing at 1-317-276-2105.

Reorder Checks

Elements has all the features I look for in a bank including an easy to use app and I earn a great rate on my checking account.

- Josh S. | Member since 2018

How Much Will I Earn with High Interest Checking?

Earnings Calculator

Your Total Earnings† Over 1 Year:

$___

Earning 2.00% APY with High Interest Checking on balances up to $20,000.

Potential Earning Over 1 Year

2.00% APY† $___
0.25% APY $___
0.03% APY $___
0.01% APY $___
0.01% APY $___

† Earnings of up to $400 based on meeting requirements for qualifying transactions to earn 2.00% APY on account and carrying $20,000 daily balance for 12 months. Potential earnings with an Elements High Interest Checking Account are estimates based on published rates current as of 11/1/2026 and subject to change without notice. Calculator is designed with certain limits and is for illustrative purposes only. Potential earnings with accounts from other financial institutions are estimates based on rates of the financial institution’s featured website as of 10/1/2024.

Trusted Banking Advice. Fresh Approach.

Banking Advice

View all Banking Articles

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Other Checking Options
  1. 1 High Interest Checking Account pays dividends using blended rate tiers meaning the stated dividend rate will be paid on the portion of the balance for each tier. The Annual Percentage Yield (APY) for Tier 1 is 2.00% on balances up to $20,000.00 and the **Tier 2 APY ranges from 2.00% to 0.86% on balances from $20,000.01 to $50,000.00. To earn Tier 1 or Tier 2 dividend rates, 15 qualifying transactions must post per statement cycle on the account. The statement cycle includes all transactions posted after the last business day of the prior month through the last business day of the current month. Accounts not meeting the qualifying transaction threshold will earn 0.05% APY. Rates accurate as of November 1, 2026. All rates are variable and may change without notice at any time. Only the following are qualifying transactions: Debit card purchases, checks, bill payments, ATM withdrawals and ACH withdrawals. No other transactions qualify. At least one account holder must be at least 18 years old. Fees may reduce earnings.
  2. 2 Based on asset size as of 9/3/2024.