bank rates

Cincinnati Deal: Checking Pays 3.50%

Residents in the greater Cincinnati area can watch the green pile up with a Get Green Checking account at Kemba Credit Union.

The account pays 3.50% APY on balances to $15,000 if you meet typical rewards checking account requirements, giving you a viable way to meet both your checking and savings needs.

The 3.50% APY is more than triple what you would earn if you put your extra cash in one of the highest-paying savings or money market accounts.

These days, the best nationally available savings and MMAs pay about 1%, and offerings at credit unions and community banks aren’t any better.

To earn the top rate at Kemba Credit Union, you need to make a dozen debit card purchases in a month, have at least one direct deposit into your account or automatic payment out of your account, sign up for eStatements and sign into online banking at least once a month.

If you don’t meet the monthly requirement, you’ll earn just 0.05% APY, and balance portions greater than $15,000 earn 0.15% APY.

You’ll also get up to $12 of ATM fees refunded each statement period with the account, which carries no fees and has no minimum balance required to earn interest.

Membership at Kemba Credit Union, which is based in Cincinnati, is open to anyone who lives, works or attends school in one of more than a dozen counties in Ohio, as well as eight counties in Kentucky and two in Indiana. Immediate family members also can join.

Membership is also open to employees of 600 companies and organizations.

To join, you need to put $5 into a savings account, and then you can open a Get Green Checking account.

You can start the membership process online and then an application will be mailed to you to complete the process. Or you can stop in one of Kemba’s 11 branches in the area to open an account.

Note: This is not the same as the Kemba Financial Credit Union, also headquartered in Ohio.

For more information on Kemba Credit Union, visit www.kemba.com or call 800-825-3622.

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