bank rates

Gulf Coast Deal: 3% Checking Rate

red pen on top of a check bookIf you live in the Corpus Christi, Texas, area, you can open a Rewards Checking Account paying more than twice as much as the top nationally available savings and money market accounts are dishing out.

Chemcel Federal Credit Union, based in Bishop, Texas, will pay you 3.00% APY on balances to $20,000.

You’ll need to make at least a dozen debit card transactions in a month, have at least one direct deposit or online bill payment per month, access online banking at least once a month and receive eStatements to earn the 3.00% APY.

Meeting the requirements will also mean up to $25 in ATM fees will be reimbursed for that month.

If you have more than $20,000 in your account, the higher balance portion will earn 0.60% APY, which is also noteworthy, given the fact the average savings account is paying less than 0.10% APY.

If you don’t meet the monthly requirements for the Rewards Checking Account, you’ll earn just 0.05% APY for that month.

There’s no minimum deposit amount required to open an account and no minimum balance required to earn interest. The account has no monthly service fees.

Anyone who lives, works, worships or attends school in south Texas’ Kleberg and Nueces counties can join, as can members’ family members.

Also eligible are employees and retirees of Celanese Corp. who work or are supervised from the Bay City, Bishop and Clear Lake plants, and the Dallas office; and employees of Mustang Engineering L.P., Mundy Contract Maintenance, Oxea Corp. and other employee and contractor groups who regularly work at those Celanese sites.

A $5 deposit in a share savings account is required for membership.

Members can open accounts over the phone or in person at one of the credit union’s branches in Bay City, Bishop, Corpus Christi, Dallas, Kingsville and Pasadena.

Learn more about Chemcel Federal Credit Union at or call 361-584-6246.

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