You can graduate from Elevate in as little as six months by completing the program’s requirements. As soon as you complete Part One and Part Two requirements, your account will automatically convert to a SELCO Select checking account.
Part One: Achieve all three of the following for six consecutive months:
- Make at least one deposit to your Elevate account every month. Your monthly deposits can be checks or cash, automatic deposits, or transfers from another account – everything counts.
- Make at least three withdrawals from your Elevate account every month. These can be ATM withdrawals, debit card purchases, checks, transfers to another account, or bill pay transactions – again, everything counts.
- Have no NSF incidents or returned checks. NSF incidents occur any time there are insufficient funds to cover scheduled or automatic payments from your Elevate account. Those payments may include recurring charges billed to your debit card (like memberships or subscriptions), recurring ACH payments (like utility bills), and bounced checks. (If funds are available in your linked SELCO savings account, they’ll be transferred to cover the payment and it won’t count as an NSF incident.)
Part Two: Complete any four of the following:
- Log into your digital banking account at least once every month.
- Enroll in eStatements.
- Set up transaction or low-balance alerts.
- Set up and use SavvyMoney, our credit score tracking tool.
- Develop a personalized action plan by taking advantage of a free financial coaching session through our partner, GreenPath Financial Wellness. When complete, simply share your action plan with us via a secure message and we’ll apply credit toward your graduation.
- Complete the CheckRight: Checking Account Management online course. When complete, just download and share your Certificate of Completion with us via a secure message and we’ll apply credit toward your graduation.
- Set up automatic direct deposits totaling at least $250 per month.