bank rates

Another National Checking Deal Ends

Coulee Bank of LaCrosse, Wis., has become the latest financial institution to slap geographic limits on its high-yield checking accounts.

Coulee Bank restricts access to high-yield checkingIts 3.03% APY put it behind only Consumers Credit Union of Waukegan, Ill., for the top nationally available rewards checking account.

Coulee’s rate is now available only to new account holders in Wisconsin, Minnesota and Iowa.

Coulee’s move follows Liberty National Bank of Lawton, Okla., and Liberty Bank of Alton, Ill., which recently put limits on where new rewards checking account customers can live.

Three other long-time front-runners, Evantage Bank, AmericaNet Bank and Redneck Bank, all of Oklahoma, pulled the plug on their high-yield checking deals in February.

With Coulee’s move, Consumers Credit Union is even further ahead of its competitors, with a rate of 4.09% APY on balances up to $10,000. Unlike most credit unions, Consumers allows anyone to join who pays a $5 membership fee, and keeps $5 in a savings account.

Coulee’s departure from the national rankings also means Danversbank, with 30 branches in the Boston area, and Atlantic Coast Bank of Waycross, Ga., offer the second best nationally available rates at 3.01% APY for rewards checking.

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  1. Kathy at Bankaholic said:
    on May 23rd at 08:33 am

    Coulee’s rate is still available, with geographic restrictions, as of May 23, 2011.