How to Qualify for Peak PLUS Checking Rewards Every Month

Already have a Peak PLUS Checking account? Great! Let’s make sure you’re actually getting all the rewards that come with it. Earning your Peak PLUS Checking perks only takes three simple steps each month — but if you’re missing even one, you could be leaving real money on the table.

In this quick guide, we’ll walk through what each requirement really means and how to meet it with ease. That way, you can unlock your full rewards: 5% cash back¹ with a Peak PLUS Cash Back Checking account, or a high-earning 5.25% APY² with a Peak PLUS High-Yield Checking account, plus up to $25 a month in domestic ATM refunds when you meet monthly qualifications.³

What Are the Peak PLUS Checking Rewards?

Whether you choose Cash Back Checking or High-Yield Checking, both Peak PLUS options use the same straightforward monthly qualification process. Once you meet all three requirements during the qualification cycle, your account automatically unlocks its rewards for the month.

Here’s what that looks like:

• Cash Back Checking earns 5%¹ cash back on up to $200 in purchases each month when qualifications are met. That translates to a deposit of up to $10 per month, up to $120 per year back in your pocket.
• High-Yield Checking earns 5.25% APY² on balances up to $15,000 when you qualify.
• Get up to $25 a month in domestic ATM refunds when you meet monthly qualifications.³

And the best part? Even if you don’t qualify one month, your account stays open and fee-free — and you can jump back into earning rewards the following month.

3 Steps to Qualify for Peak PLUS Rewards Each Month

Step 1: Make at Least 15 Debit Card Purchases

You need 15 debit card transactions to post and settle to your Peak PLUS Checking account within the monthly qualification cycle.

A few important details:

• Each purchase must fully post and settle — not just clear as pending.
• Purchase size doesn't matter. A $3 coffee counts the same as a $75 grocery run.
• Purchases can be made in-store, online, at the pump, or through a monthly subscription — any point-of-sale transaction on your debit card counts.
• ATMs do not qualify as a purchase and does not contribute towards the Rewards goals.
• The monthly qualification cycle runs from one calendar day before your statement cycle opens through one calendar day before it closes. Check Online Banking to see where you stand. The rewards dashboard provides you with an ongoing update of your swipes, direct deposits, and eStatement status.

Make it easy: Fifteen (15) transactions might sound like a lot, but once you start paying attention, you’ll realize you can hit that number without even trying. Almost all your day-to-day spending counts, and each purchase gets you one step closer to your monthly rewards.

Here are some simple, everyday transactions that all count toward your 15:

• Your morning coffee run, whether it’s Starbucks, a local café, or a drive-through
• Grocery trips at your favorite local store, Walmart, or Costco
• Filling up at the gas station
• Quick errands for household or personal items at places like Target or Walgreens
• Payments for services like salons, fitness classes, or car washes
• Dining out or ordering through apps like Starbucks, McDonalds, or DoorDash linked to your debit card
• Setting your debit card as the payment method for recurring transactions like your streaming services or gym membership – Amazon, Netflix, or Hulu to name a few.
• Adding your debit card to your digital wallets like Apple Pay and Venmo make it even easier to pay and get transactions

Spread across a full month; 15 purchases are very achievable once it's part of your routine. Just make sure you’re reaching for your Sandia Area debit card and adding it to your digital wallets.

Step 2: Receive One Direct Deposit or ACH Credit

To qualify each month, you’ll also need at least one ACH credit or direct deposit to land in your account. For most members, this happens automatically through things like paychecks from an employer or monthly Social Security or government benefits.

Getting direct deposit set up is easy. Just share this information with your employer or benefits provider:

• Bank Name: Sandia Area Federal Credit Union
• Routing Number: 307070047
• Account Number: Your Peak PLUS Checking account number (you’ll find it at the bottom of your checks — and if you need help locating it, give us a call at (505) 292-6343).

Many employers also let you split your paycheck between multiple accounts. So even sending part of your deposit into your Peak PLUS Checking still qualifies. You can find more helpful direct deposit resources at sandia.org/direct-deposit.

If you receive other ACH credits — like transfers from another bank — those may count too. If you’re ever unsure whether something qualifies, we’re always here to help.

Step 3: Enroll in eStatements

Signing up for eStatements⁴ is a one-time step that fulfills this qualification requirement every month going forward. Once you're enrolled, you'll receive your statements digitally through Online Banking instead of by mail — and this box is permanently checked.

To enroll, visit the eStatements page, or log in to Online Banking and go to Additional Services, then select eStatements and Tax Forms, and follow the prompts to finish sign-up. Once enrolled, you'll receive an email each month when your statement is ready and can access your statements anytime, 24/7, inside Online Banking.

Pro Tip: Even after going paperless, make it a habit to save your December 31 year-end statement. It's important for tax reporting purposes, and it's always available in your Online Banking account.

Already enrolled in eStatements? You're set — this step is done.

What Happens If You Miss the Monthly Qualifications?

No fees, no penalties. If you don't meet all three requirements in a given cycle, your account remains open and free — just try again next month.

Think of the monthly qualifications less like a test and more like a monthly opportunity. Missing one month doesn't cost you anything. Meeting qualifications as consistently as possible is what builds your rewards over time.

Peak PLUS Rewards Qualification Checklist

Keep this handy at the start of each month:

• 15 debit card purchases posted and settled
• 1 direct deposit or ACH credit received
• eStatements enrollment active (one-time setup)

When all three are checked, start earning those sweet rewards. Make sure to check often to see if you're on track by logging into Online Banking.

Start Earning More With Peak PLUS High-Yield Savings

If you have a Peak PLUS Checking account but haven't claimed your High-Yield Savings account yet, now is the time. It's free, takes less than five minutes to request, and it's where your rewards are designed to grow.

Your Peak PLUS Checking rewards deposit automatically into your Peak PLUS High-Yield Savings account — earning 3.00% APY on balances up to $200,000.⁵

Get your Peak PLUS High-Yield Savings account

Questions about your account or where you are in the qualification cycle? We're happy to help. Contact us or visit any Sandia Area branch in Albuquerque, Rio Rancho, or Santa Fe.

Federally insured by the NCUA. Membership eligibility required. 

Visit Sandia.org/Membership for complete details. Checking accounts subject to qualification and may require an opening balance. Advertised information and rewards are based on all account qualifications being met during each cycle period. Please refer to the Truth in Savings disclosures and rate schedule for complete details, restrictions, reward calculations, processing limitations, cycle dates, and enrollment instructions.

1. Peak PLUS Cash Back Qualification Information: If you meet the minimum qualification requirements during the monthly qualification cycle, you will receive 5.00% cash back on up to $200 in debit card purchases that post and settle to the account. A maximum of $10 cash back may be earned per monthly qualification cycle. If you have a Peak Plus High-Yield Savings Account, cash back earned on your Peak PLUS Cash Back Checking Account will be deposited into your Peak PLUS High-Yield Savings Accounts. If you do not have a Peak PLUS High-Yield Savings Account, cash back earned will remain in your Peak PLUS Cash Back Checking Account. You may qualify for monthly rewards if you meet the applicable minimum qualification requirements for the monthly qualification cycle. To meet the minimum qualification requirements, you must: 1) make 15 debit card purchases that post and settle to your account; 2) have one ACH credit or direct deposit settle to your account; 3) be enrolled to receive e-statements. The monthly qualification cycle is defined as the period beginning one calendar day prior to the first day of the current statement cycle through one calendar day prior to the close of the current statement cycle.

2. Peak PLUS High-Yield Checking Account Qualification Information: APY=Annual Percentage Yield. Rates effective as of 08/30/2024. Rates, rewards, and bonuses, if any, are variable and may change after account is opened. The Peak PLUS High-Yield Checking Account is a tiered rate account. If you meet the minimum qualification requirements during the monthly qualification cycle, the APY of 5.25% will apply on your balance of $15,000.00 and below; the annual percentage yield of 0.50% will apply on any balance of $15,000.01 or greater. If minimum qualifications requirements are not met, the entire balance will earn 0.05% APY. Dividends will be credited to your Peak PLUS High-Yield checking account on the last day of the current statement cycle. If you have a Peak PLUS High-Yield Savings Account, dividends earned on the Peak PLUS High-Yield Checking Account will automatically be transferred to your Peak PLUS High-Yield Savings Account; in that event dividends will not compound in the Peak PLUS High-Yield Checking account and will compound in your account as listed on the Rate Schedule. Earned rewards will be transferred to this account one day after end of cycle processing.

You may qualify for monthly rewards if you meet the applicable minimum qualification requirements for the monthly qualification cycle. To meet the minimum qualification requirements, you must: 1) make 15 debit card purchases that post and settle to your account; 2) have one ACH credit or direct deposit settle to your account; 3) be enrolled to receive e-statements. The monthly qualification cycle is defined as the period beginning one calendar day prior to the first day of the current statement cycle through one calendar day prior to the close of the current statement cycle.

3. ATM Refund Qualification Information: We will refund up to $6.00 per transaction and up to $25.00 per month in ATM fees assessed at worldwide ATMs we do not own or operate. ATM refunds will be paid on the last calendar day of the month. If you have a Peak PLUS High Yield Savings account, ATM fees refunded to you will be deposited directly into your Peak PLUS High Yield Savings account. If you do not have a Peak PLUS High Yield Savings account, fees refunded will remain in your Peak PLUS Checking account. If you do not meet all of the minimum qualification requirements during the monthly qualification cycle, ATM fees will not be refunded to you.

4. eStatements: By selecting eStatements, you choose to receive your statements and notices electronically, you will no longer receive paper copies via traditional mail. For important tax reporting reasons, you should always print and retain your December 31 year-end statement and tax documents.

5. Peak PLUS High-Yield Savings Account Qualification Information: APY=Annual Percentage Yield. Rates effective as of 08/30/2024. Rates, rewards, and bonuses, if any, are variable and may change after account is opened. The Peak PLUS High Yield Savings account is a tiered rate account and is available only to holders of a Peak PLUS High Yield Checking or Peak PLUS Cash Back Checking account. If you meet the minimum qualification requirements for your Peak PLUS High Yield Checking or Peak PLUS Cash Back Checking account during the monthly qualification cycle, the 3.00% APY will apply on any balance of $200,000.00 and below. The .50% APY will apply on any balance $200,000.01 or greater. Each dividend rate will apply only to that portion of the account balance within each balance range. If you do not meet all of the minimum qualification requirements during the monthly qualification cycle for the Peak PLUS High Yield Checking or Peak PLUS Cash Back account, the .05% APY will apply to the entire balance in your Peak PLUS High-Yield Savings account.