bank rates

Earn 4.09% APY On Rewards Checking

Today we welcome a new, if unusual, leader to our list of the best nationally available high-yield checking deals.

Consumers Credit Union offers the top nationally available high-yield checking accountFew credit unions make our rankings because their joining fees are often high enough to negate any extra earning-power from the attractive interest rates they offer.

Consumers Credit Union of Waukegan, Ill., is an exception. It’s offering 4.09% APY on its rewards checking account.

Consumers allows anyone to join for only $5, regardless of where they live or work. (You will also be required to hold at least $5 in a savings account.)

Consumers’ rate is more than 1 percentage point above its next competitor, Coulee Bank of LaCrosse, Wis., which offers a rewards checking rate of 3.03% APY on balances up to $25,000.

The Consumers Credit Union offer is good for balances up to $10,000. Balances between $10,000 and $25,000 earn 1.59% APY, and balances above that earn 0.76% APY if you meet the minimum monthly requirements.

As with a typical high-yield checking account, you need to make 12 debit card transactions each month, make one direct deposit into the account, enroll in online banking and sign up for eStatements. If you don’t do that, you’ll earn 0.05% APY for that month.

Just two other banks offer nationally available deals with yields above 3%.

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Comments (4)
1 Star2 Stars3 Stars4 Stars5 Stars (6 votes, average: 3.67 out of 5)
4 Existing Comments
  1. Kathy at Bankaholic said:
    on March 27th at 08:40 am

    These rates are still available as of March 27, 2011.

  2. Kathy at Bankaholic said:
    on May 26th at 06:13 am

    You can still get these rates as of May 26, 2011.

  3. Arsie said:
    on June 6th at 10:34 am

    Coulee Bank has dropped the rate to 2.55% as of 1-June-2011

  4. Matt Underwood said:
    on September 28th at 01:55 pm

    In addition, they’re offering a $50 referral right now. If anybody needs one, please email me your full name to g a t e s i s e v i l @ h o t m a i l . c o m and I’ll fax over the referral form. Also, when you sign up make sure that you switch to paperless statements or you don’t get the 4.09%.