bank rates

Iowa Deal: 4.25% Rewards Checking

The University of Iowa Community Credit Union is offering a rewards checking account with a rate of 4.25% APY, which trounces the best nationally available deal.University of Iowa Credit Union offers this deal up to $25,000.

Residents or employees in a large swath of Iowa, including Des Moines and Dubuque, as well as University of Iowa alum, are eligible to become credit union members and earn 4.25% APY on balances up to $25,000.

Balances above that amount earn 0.25% APY.

That tops the 4.09% APY offered by Consumers Credit Union of Waukegan, Ill.

Unlike most credit unions, Consumers allows anyone to join who pays a $5 fee, and you also must keep $5 in your savings account to maintain your membership.

The 4.09% APY at Consumer Credit Union is good for balances up to $10,000. You’ll earn 1.59% APY for balances between $10,000 and $25,000. Balances above that amount earn 0.76% APY.

At the University of Iowa Community Credit Union, you need a $50 minimum deposit to open the account.

To earn the top rate, you must make 12 debit card transactions a month and make one direct deposit. You also must sign up for eStatements. If you fail to meet the requirements, you’ll earn 0.10% APY.

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Comments (3)
1 Star2 Stars3 Stars4 Stars5 Stars (4 votes, average: 4.25 out of 5)
3 Existing Comments
  1. Kathy at Bankaholic said:
    on March 27th at 08:04 am

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

  2. Kathy at Bankaholic said:
    on May 25th at 07:38 am

    You can still get these deals as of May 25, 2011.

  3. Mike Cetera said:
    on August 24th at 03:57 pm

    This credit union now pays 3.75% APY on its rewards checking.