Checking Accounts

Make more of your everyday banking.

Your checking account is part of your everyday routine—from getting paid to paying bills to making the purchases that bring you a little joy. We believe your checking account should do more than simply hold your money—it should give something back, too.

That’s why M1 offers two checking options designed around the way you live and what you want your money to do. Earn more with Rewards Checking or get cash back on everyday purchases with Cash Back Checking. Whichever you choose, it’s checking designed to bring more value to your everyday banking—and more joy to the journey.

Not sure which account is right for you? Let's compare 

Ready to get more from your everyday banking? Open a Rewards or Cash Back Checking account or upgrade your existing M1 checking account today.

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Rewards Checking 

Turn your everyday spending into everyday earnings.

• Earn 6.00% APY* on balances up to and including $15,000
• Earn 0.50% APY* on balances over $15,000*
• Still earn 0.05% APY* on all balances, even if qualifications aren't met
• No minimum balance to earn rewards
• Links to free Rewards Saver to build savings automatically
• Overdraft Protection with a limit of $1,000 for qualified members

 

Learn More

Cash Back Checking

Get cash back on what you already buy.

• 5.00% cash back on up to $200 in debit card purchases monthly**
• As much as $120 cash back per year, $10 per month
• No minimum balance to earn rewards
• Links to free Rewards Saver to build savings automatically
• Overdraft Protection with a limit of $1,000 for qualified members

 

Learn More

 

 

Compare Your Options

If you tend to keep a higher balance in checking, Rewards Checking lets you grow that money faster with a strong dividend rate. If you prefer to earn on what you spend, Cash Back Checking rewards your everyday purchases directly. Either way, you come out ahead.

Already have an M1 checking account?

Upgrade to Rewards or Cash Back Checking Account in just a few steps:

1. Log in to Online Banking or open the M1 Mobile App.
2. Select Rewards Tracker from the menu.
3. Follow the instructions to upgrade.

That’s it! You’ll be on your way to getting more from your everyday banking.

Need help? Contact us or stop by your nearest branch. 

Rewards Checking

*Qualification Information: To earn your rewards, the following enrollments must be in place and all transactions and activities must post and settle to your Rewards Checking account during each Monthly Qualification Cycle: at least 1 direct deposit/ACH Credit, ACH payment, or bill pay transaction(s); at least 15 debit card purchases, each $5.00 or more; be enrolled in and have agreed to receive e-statements rather than paper statements. Account transactions and activities may take one or more days to post and settle to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account's rewards. "Monthly Qualification Cycle" means a period beginning one (1) day prior to the first banking day of the current statement cycle through one (1) day prior to the last banking day of the current statement cycle. Visit mfcu.net or your nearest Members First Credit Union branch for specific Monthly Qualification Cycle dates.

Reward Information: When your Rewards Checking account qualifications are met during a Monthly Qualification Cycle, daily balances up to and including $15,000.00 in your Rewards Checking account earn a dividend rate of 5.84% resulting in an APY of 6.00%; and daily balances over $15,000.00 earn a dividend rate of 0.50% on the portion of the daily balance over $15,000.00, resulting in a range from 6.00% to 1.22% APY depending on the account's daily balance. You will receive reimbursements up to $25.00 for nationwide ATM withdrawal fees incurred within your Rewards Checking account during the Monthly Qualification Cycle in which you qualified. NOTE: ATM fee reimbursements only apply to Rewards Checking transactions via ATM; Rewards Saver ATM transaction fees are not reimbursed nor refunded. When your Rewards Checking qualifications are not met, the dividend rate earned on the account's entire daily balance will be 0.05% resulting in an annual percentage yield of 0.05% and ATM withdrawal fees are not refunded. Dividends will be credited to your Rewards Checking account on the last day of the current statement cycle. Nationwide ATM withdrawal fee reimbursements will be credited to your account on the last day of the current statement cycle. APY = Annual Percentage Yield. APYs accurate as of September 8, 2026. Rates, rewards, and bonuses, if any, are variable and may change after account is opened; rates may change without notice to you. No minimum balance is required to earn or receive the account's rewards. Rewards less than a penny cannot be distributed. Fees may reduce earnings.

Additional Information: Membership restrictions may apply. Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements apply. No minimum deposit is required to open the account. There are no recurring monthly maintenance charges or fees to open or close this account. Advertised information and rewards are based on all account qualifications being met during each cycle period. Contact one of our credit union service representatives for additional information, account details, restrictions, reward calculations, processing limitations, cycle dates and enrollment instructions.

Cash Back Checking 

**Qualification Information: To earn your rewards, the following enrollments must be in place and all transactions and activities must post and settle to your Cash Back Checking account during each Monthly Qualification Cycle: at least 1 direct deposit/ACH Credit, ACH payment, or bill pay transaction(s); at least 15 debit card purchases, each $5.00 or more; be enrolled in and have agreed to receive e-statements rather than paper statements. Account transactions and activities may take one or more days to post and settle to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account's rewards. "Monthly Qualification Cycle" means a period beginning one (1) day prior to the first banking day of the current statement cycle through one (1) day prior to the last banking day of the current statement cycle. Visit mfcu.net or your nearest Members First Credit Union branch for specific Monthly Qualification Cycle dates.

Reward Information: When Cash Back checking qualifications are met during a Monthly Qualification Cycle, you will receive 5.00% cash back on up to a total of $200.00 debit card purchases that post and settle to the account during that cycle period. A maximum of $10.00 cash back payments may be earned per Monthly Qualification Cycle. You will receive reimbursements up to $25.00 for nationwide ATM withdrawal fees incurred within your Cash Back Checking account during the Monthly Qualification Cycle in which you qualified. NOTE: ATM fee reimbursements only apply to Cash Back checking transactions via ATM; Rewards Saver ATM transaction fees are not reimbursed nor refunded. When your Cash Back Checking account qualifications are not met, no cash back payments are made and ATM withdrawal fees are not refunded. Cash back payments and nationwide ATM withdrawal fee reimbursements will be credited to your Cash Back Checking account on the last day of the current statement cycle. Rates, rewards, and bonuses, if any, are variable and may change after account is opened; rates may change without notice to you. No minimum balance is required to earn or receive the account's rewards. Rewards less than a penny cannot be distributed.

Additional Information: Membership restrictions may apply. Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements apply. No minimum deposit is required to open the account. There are no recurring monthly maintenance charges or fees to open or close this account. Advertised information and rewards are based on all account qualifications being met during each cycle period. Contact one of our credit union service representatives for additional information, account details, restrictions, reward calculations, processing limitations, cycle dates and enrollment instructions.

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