When you open a consumer checking account with Centra, you get a Member Loyalty Account (MLA) to go with it. That’s because having an eligible checking account is the only requirement for participating in Centra’s Member Loyalty Rewards! The MLA is where your all-cash rewards are deposited, in one place, so you can watch your balance grow.
Your MLA is a reward in itself. That’s because it offers a higher interest rate of 3.00% APY* which is higher than any other savings account at Centra. It’s like your rewards are earning more rewards! Because the interest rate on the MLA is so high, you can only add money to this account through Centra’s Member Loyalty Rewards. If deposits and transfers to your MLA weren’t limited, Centra wouldn’t be able to offer such a competitive rate!