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Are you currently a member of Southwest Airlines Federal Credit Union?

We would say our free LUV Rewards Checking account pays you a pretty penny, but the truth is, it pays you a pretty huge heaping pile of cash! Earn up to 4.00% APY* just for doing things you would anyway, like using your debit card, direct deposit, and signing up for e-Statements.

And you'll even get ATM refunds all over the nation — so no matter where your next flight lands, you'll have quick access to your cash when you need it.

Effective March 20, 2023: 
Our Rewards Checking Qualifications have changed. POS debit and qualifying credit card transactions for LUV Rewards Checking must be at least $5.00 in order to be applied towards qualification of 15 debit card transactions per month.

Please see disclaimer for change to paper statements fee.



  • Free checking that pays really, really high dividends (really)
  • 4.00% APY* on balances up to $25,000
  • 0.10% APY* on balances over $25,000 depending on balance in account*
  • 0.05% APY* if you do not meet the qualifications
  • ATM withdrawal fee refunds, nationwide*
  • No monthly service charge
  • No minimum balance to earn rewards
  • Unlimited check writing
  • Reorder checks conveniently and securely
  • Free online banking & bill pay
  • Free mobile banking with mobile deposit
  • Free e-Statements
  • Free telephone banking
  • Free Visa® debit card
  • Overdraft Protection available
  • $30 minimum deposit to open
  • LUV Rewards Checking is limited to one account per social security number

It's Easy to Earn Your Rewards!

To earn your rewards, enrollments must be in place and all of the following transactions and activities must post and settle to your LUV Rewards Checking account during each Monthly Qualification Cycle:

  • At least 1 direct deposit or ACH payment transaction
  • At least a combined total of 15 debit card purchases or credit card purchases with a minimum transaction amount of $5.00**
  • Be enrolled in and agree to receive e-Statements

Didn't qualify one month? No worries! LUV Rewards Checking is still a free account that earns our base dividend rate. Best of all, you can jump right back on that horse and earn the LUV Rewards the very next qualification cycle.

**Only Basic Platinum Credit Card swipes will count towards LUV Rewards Checking qualifications. New Rewards and Signature Credit Cards will not qualify towards LUV Rewards Checking qualifications.

Are you currently a member of Southwest Airlines Federal Credit Union?

Not currently enrolled in eStatements?
Effective November 3, 2023, a fee of $2 per mailed statement will be assessed to the member account. Member's under 18, and over the age of 65 will be exempt. To enroll in to eStatements follow these steps:

From your HOME screen on your online baking, select MEMBER SERVICES. Under the MEMBER SERVICES tab select ESTATEMENTS then make your selection to ACCEPT or DECLINE.

*APY=Annual Percentage Yield. APYs accurate as of 5/1/2024. Minimum to open is $30. This account is a variable rate account. Rates may change at any time. If qualifications are met each monthly qualification cycle: (1) Domestic ATM fees incurred during qualification cycle will be reimbursed and credited to account on the last day of monthly statement cycle; (2) balances up to $25,000 receive APY of 4.00%; and (3) balances over $25,000 earn 0.10% dividend rate on portion of balance over $25,000, resulting in a range of 4.00% to .10% APY depending on the balance. If qualifications are not met, all balances earn 0.05% APY. Qualifying transactions must post to and settle account during monthly qualification cycle. Transactions may take one or more banking days from the date transaction was made to post to and settle an account. ATM-processed transactions do not count towards qualifying debit card transactions. Transfers between accounts do not count as qualifying transactions. "Monthly Qualification Cycle" means a period beginning one day prior to the first day of the current statement cycle through one day prior to the close of the current statement cycle. ATM receipt must be presented for reimbursement of an individual ATM fee of $5.00 or higher. Limit one(1) Reward Checking account per social security number. Must be 13 years of age to open this account. Fees may reduce earnings. Up to $20.00 in domestic ATM fees incurred during qualification cycle will be reimbursed if qualifications are met within monthly qualification cycle. Insured by NCUA.

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