Activate. Earn. Repeat. Free checking that adds up.

Open a free Activate Rewards Checking account today and start earning cash back and high-yield interest in one account. When you meet the monthly qualifications you earn:  

  • 2.00% APY on your monthly balance.1  
  • 1% cash back on debit card purchases when you maintain an average daily balance of $2,500 or more.1

The benefits don't stop there:

  • Get paid up to three days sooner with direct deposit4
  • Pair with an Ignite Savings account and get a 0.25% APY boost on your Ignite Savings rate 
  • No monthly fees, nationwide ATM access3
  • Choose an OCCU debit card or show your school spirit with a Duck debit card or OSU Beaver debit card.

Pick your plastic to earn cash back

Keep it classic or show your school spirit with three debit card options.  All of our debit cards are made of recycled plastic.

OCCU debit

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Beaver debit

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Duck debit

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Earn interest on your balance and cash back on purchases. Here’s how:

The power to make the most of Activate Rewards Checking is in your hands. It’s all in how you use it! Make Activate Rewards Checking your go-to account for purchases and earn 2.00% APY on your balance. And if you tend to keep a solid balance in your account to grow your savings, you can earn cash back, too.  

Meet these simple qualifications to activate your benefits:

  • Enroll in eStatements.  
  • Make one monthly automated transaction or direct deposit.  
  • Use your debit card 12 times each month.  
  • To earn 1.00% cash back on debit purchases, meet the above qualifications and maintain a monthly balance of $2,500 in your account.

Example earnings: Maintaining an average daily balance of $5,000 in your free Activate Rewards Checking account, with the qualifications listed above met and maxing out your monthly cash back, you would earn up to $459 a year. 

You shouldn’t have to choose between a checking account that earns serious interest and one that rewards your spending. With Activate Rewards Checking, you get both! Earn up to $750 a year through 2.00% APY and 1% cash back rewards, just by using your account.2

Activate Rewards Checking is the only free checking account in the area that offers a high interest rate and cash back all in one. Open your account today and find out how rewarding smart spending can be!

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I have had many other banks and credit unions, and OCCU has been the best. I highly recommend it to anybody; you will be happy.
Pedro, Keizer, OR

FAQs about Activate Rewards Checking

What is a rewards checking account?

A rewards checking account offers you incentives for actively using your account. Those rewards usually come in the form of a higher interest rate or cash back on your purchases. Activate Rewards Checking offers both. 

What’s the difference between cash back and interest?

Cash back checking accounts pay you a percentage of your debit card purchases. Checking accounts with interest rewards offer a high rate of interest (APY) on your balance. Most checking accounts that offer rewards only provide one option. But Activate Rewards Checking from OCCU gives you the opportunity to earn both! 

Can I lose rewards if I don't maintain the minimum balance?

Eligibility for rewards is assessed monthly. You’ll never be penalized for not meeting the monthly rewards requirements — Activate Rewards Checking is a free, reliable and secure account, whether you meet the monthly requirements or not. (But they’re pretty simple, so give it a try!) 

What happens if qualifications aren't met monthly?

If you don’t meet the monthly qualifications, you’ll continue to enjoy your free, reliable checking account, and you’ll earn a 0.05% APY on your monthly balance. In addition, cash back rewards will not be available if qualifications are not met.

Are rewards checking accounts better than regular savings accounts?

If you use a rewards checking account like Activate Rewards Checking to its fullest, you’ll earn more than you would with a traditional savings account. By meeting the monthly requirements, you can earn up to $750 in rewards each year.2 You can’t get that from a basic checking account. 

If I don’t have a daily average balance of $2,500, can I still earn the best interest rate?

Yes! You can earn the best interest rate just by enrolling in eStatements, making one monthly automated transaction or direct deposit, and 12 monthly debit card transactions. There’s no minimum balance required to earn 2.00% APY. 

Activate Rewards Checking is the only free checking account in the local area that offers a high interest rate and cash back all in one. Open your account today and find out how rewarding smart spending can be!

Open now

1 Activate Rewards Checking annual percentage yield (APY): 2.00% APY applies to the first $20,000 and 2.00% - 0.20% APY on balances greater than $20,000 if all qualifications have been met. 0.05% APY on all balances if qualifying factors are not met. If qualifications are met, when account maintains average daily balance of $2,500 or more OCCU will deposit 1% of the debit transaction amount into the Rewards Checking account, maximum benefit amount for account is $30 a month/$360 a year. Rewards are deposited during the statement cycle in which all qualifications are met. APYs effective as of 04/16/2026 and subject to change. Fees may reduce earnings.

2 Example of possible earnings - Assuming member has at least $20,000 on deposit at all times, $30 worth of cash-back transactions per month, and meeting all monthly qualifications for one year member could earn $756, this includes interest and rewards. Actual return will vary based on available balance and transaction activity.

3 Foreign ATM fees charged by non-OCCU and non-Co-op financial institutions for the use of their ATMs will be automatically credited back to your account by OCCU at the end of the statement cycle. This credit is subject to meeting the qualifying factors. Statement Cycle = first day of the calendar month to the last day of the calendar month. Example: May 1 – May 31.

4 Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. OCCU may, but shall not be required to under any circumstances, make these funds available on the day the payment file is received, which may be up to three (3) days earlier than the scheduled payment date. OCCU does not assume any liability for not depositing these funds to your account early. OCCU may terminate early access at any time without notice.