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Checking & Savings > Member Rewards: Scholar Series 

Member Rewards: Scholar Series

MCT is a financial cooperative, so the more you contribute,  the more rewards you’ll enjoy — and the more you’ll save!

Level One includes your basic MCT savings and the benefits that come with your MCT membership.  Add a checking account, loan, and/or certificate and you'll begin enjoying the special rewards of the Scholar Series. Take a look at the chart below for a detailed listing of the benefits you'll receive at each rewards level.  

  Primary Level 2
Two Active Accounts
 Graduate Level 3
Three Active Accounts
 Honors Level 4
Four or More Active Accounts & Less Than $50,000 total deposits and/or loans
 Masters Level 5
Four or more Active Accounts & $50,000 or more in total deposits and/or loans
Web Bill Pay 
 Free Free Free Free
Foreign ATM Transaction Fee1
 Four transactions refunded per month
  Six transactions refunded per month All fees refunded All fees refunded
Consumer Loan Discount2
  
.25% discount per loan
Share Certificate Bonus3
  

.25% bonus
Travel Checks
     No charge
 No charge
Visa Platinum
       Two points for every $1 charged

1 Surcharges may still apply.  Fees are automatically refunded at the end of the month.
2 Offer valid for fixed rate/fixed maturity vehicle and personal loans only.
3 Offer valid for certificates with a maturity of eleven months and longer.


    All MCT members in good standing are eligible to receive Scholars Series rewards. A member is considered to be in a good standing if none of the following conditions exist.

    • An account is currently overdrawn in excess of 7 days;

    • A loan is past due for more than 7 days;

    • A loan is being worked by the Debt Management department;

    • A loan is in bankruptcy status;

    • A loan with return checks or NSFs;

    • A share that Courtesy Pay has been granted more than 2 times in a month;

    • A loan with an attachment or Levy;

    • A loan with any fraud activity;

    • A bad address is on file.

    Should any of these conditions exist, all Scholar Series benefits will be forfeited and no rewards will be applied for the month.

    Each account number is considered separately and is independent of other account relationships an individual may have with MCT. The rewards and benefits received on an account are based on the number of active share and loan types and the total aggregate balances for that account number. Business Accounts are not eligible for Scholar Series rewards.

    An account is considered active if there has been a purchase, payment, deposit, or withdrawal within a month. All fee-based refunds will be made at the end of the month and will be noted on monthly and quarterly statements. Discounts and bonuses will be given when the loan or certificate are issued.  In addition to a basic share or special savings account, a member must have one or more active checking account(s), money market(s), certificate(s), and/or loan(s) in order to qualify for levels above the basic level of rewards.

    During the course of a month, if the level of active accounts increases, the member will receive rewards benefits retroactive at the new, higher level and all appropriate fees will be refunded at the end of the month. Certificates and loans issued during the month will not be re-priced. Should the active number of accounts fall below that required by an existing reward level for two consecutive months, on the third month the member will start earning rewards based on the appropriate level of active accounts.

    This program supersedes any or all previous programs. The Scholar Series rewards are automatic and do not require the completion of a form or application. Scholar Series rewards are subject to change without notice. MCT may exercise the right to revoke, limit, and/or discontinue the program at any time. Scholar Series rewards apply to select MCT products and services and may not be used in conjunction with special product promotions.

    If you have any questions or concerns, please feel free to contact an MCT representative at 301.948.9880.

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