Your next Checking account


Open your account online or 
make an appointment at a branch today!

Don't forget to mention the promo code "SUMMER" when you open your checking account, and we will deposit $100 into your new account.*


EARN 1.50% APY1 with a Rewards checking account. 
No minimum balance. No fees.

Ready to be rewarded for the things you do every day? That’s exactly what you’ll get with our Rewards Checking Account. This account allows you to enjoy time-saving features along with the opportunity to earn an exceptional rate every month to help your money go further, with no minimum balance and no fees!

Earn 1.50% APY1 on balances up to $20,000 when you do a few simple things each month:

  • Make 15+ transactions with your debit card and/or Visa credit card
  • Have direct deposit or ACH deposit transactions totaling at least $300
  • Receive eStatements

Also, enjoy these valuable benefits:

  • Save money with no monthly fees2
  • No minimum balance required to earn dividends

To start earning more on your checking account:

  • Free and Convenient Features

    Convenience Comes Standard.

    Managing your money is a breeze with these free features:

    • 24/7 Online Bill Pay and Banking
    • Mobile Banking and Check Deposit
    • 30,000+ surcharge-free ATM transactions nationwide
    • Direct deposit
    • Online Budgeting Tools
  • How do I know if I earned my reward this month?

    "Rewards Acct #CHECKSOUT"

    During the month, log in to Online Banking or Mobile Banking to view your Rewards Checking account status. If you have met all of the monthly requirements:

    • Your account title will read "Rewards Acct #Checksout".
    • Also you can monitor you reward status daily by viewing your Rewards Checking widget.
      • Online Banking - After you log in to Online Banking, the widget is located on the right side of the homescreen.
      • Mobile Banking  - After you log in to Mobile Banking, click the "More" button in the top left corner of the homescreen.
      • If you did not meet the criteria, your account title will read "Rewards Acct #MISSEDIT".
  • What happens if I do not meet the monthly requirements to earn the reward?

    "Rewards Acct #MISSEDIT"

    Aww, sorry you missed the rewards for this month but there is always next month to reap the rewards. 

    If you do not complete all the requirements for this month's reward, you will not receive 1.50% APYon your current checking account balance and your account will act as a Free Checking w/eStatements. You can always view your account status by logging in to Online Banking and/or Mobile Banking and check the Rewards Checking widget. Each month you have an opportunity to earn the monthly reward of 1.50% APY* on your checking account balance. 

Who are we?

CommonWealth is a full-service financial institution with deep roots in Santa Clara County. Unlike a bank, we're a not-for-profit, member-owned cooperative dedicated to the financial well-being of our members. Whether your financial goals include a new home, a car, a dream vacation, or a secure retirement, CommonWealth is here to help.  We believe that by supporting local events, schools, and non-profits, we strengthen the communities we serve. We also partner with a number of other local community organizations like TurningWheels for Kids, Rebuilding Together Silicon Valley, Cecelia's Closet, The Sharks Foundation, and several local schools with our educational scholarship program.

*Membership in CommonWealth is required. Offer applies to new checking accounts only.  Subject to $100 fee for closing checking account within 6 months. All new accounts will be verified by Chex Systems. Cash or non-cash gifts in excess of $10 are subject to IRS reporting on form 1099-INT. Offer is subject to cancellation without notice and cannot be combined with any other offer. Promotion code: SUMMER
1APY=Annual Percentage Yield. Rate is variable and subject to change at any time. To qualify for the Rewards Checking APY, you must meet the following requirements by the end of each month: be enrolled in eStatements, have direct deposit or ACH deposit transactions totaling $300 or more per month, and have at least 15 debit and/or credit card transactions per month. All qualifying transactions must post to the account and the funds must be available by 3:00pm on the last day of each month. Note: Debit and credit card purchases can take up to 3 days to post and are dependent upon merchant processing times. If you do not meet the Rewards Checking account requirements, you will not receive the APY. Rewards Checking APY is up to a max balance of $20,000 and thereafter standard rate of 0.05% will apply. Membership in CommonWealth required. Limit one Rewards Checking account per member. All new accounts will be verified by ChexSystems. Members with an existing CommonWealth checking account may convert their current account into a Rewards Checking account. Offer is subject to cancellation without notice and cannot be combined with any other offer.
2No monthly service charge for Rewards Checking. You must opt-in to eStatements to have the $2 monthly paper statement charge waived.

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