Dedicated to Deposits: Deals, Data, and Discussion

High-Yield Reward Checking Account at a Texas CU (United SA)


United SA Federal Credit Union

Update 9/22/10: The top yield has fallen to 1.50% APY. Refer to the bottom of the post for the rate history.

United SA Federal Credit Union is offering the Premium Reward Checking which pays 1.50% APY on balances up to $25K (0.50% over) and refunds ATM fees if the following monthly requirements are met: 1) 15 debit card transactions, 2) receive E-statements, and 3) access E-Teller, the online banking service. If these requirements are not met, the rate falls to 0.05%. Regardless of meeting the above requirements, there are no monthly fees or minimum balance requirements.

It's a pretty standard reward checking account except that it doesn't have a direct deposit requirement. So that's one advantage over SACU, the other San Antonio credit union with a reward checking account (see post).

Membership is open to those who live, work, worship or attend school in Bexar County, Texas. Please see their membership page for the full details. Membership requires a minimum deposit of $5 into the savings account.

Branches are located in San Antonio, TX. The credit union is federally insured by the NCUA (Charter # 10245). It has $212.7 million in assets and 30,250 members.

Other Reward Checking Accounts

For other reward checking accounts in other parts of the country, please see my reward checking account page and my best checking account post.

Rate History:

  • 09/01/10: 1.50% APY for up to $25K; 0.50% over
  • 04/01/10: 3.05% APY for up to $25K
  • 01/01/09: 3.51% APY, debit card usage requirement now 15/mo (up from 10/mo)
  • 05/13/08: 4.01% APY
  • 10/05/07: 6.01% APY; 1.01% over

Edit 1/3/09: updated debit card usage requirement.

  Tags: United SA Federal Credit Union, Texas, checking account, reward checking account

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Comment #1 by houseofpain (anonymous) posted on
I think United SA Fed CU yield is down to 4.01%. Bummer!!!

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Thanks for the update. Sorry to see such a big drop.

Comment #3 by Anonymous posted on
This was in my December e-mail from United SA:

Effective January 1, 2009, the bonus dividend for qualifying accounts will be 3.51% Annual Percentage Yield and you must complete at least 15 check card transactions in a statement cycle in order to be eligible for the monthly bonus dividend.

Comment #4 by Anonymous posted on
Note: Per the notice, in addition to cutting the rate, United SA is increasing the debit card requirement from 10 to 15/month.

Comment #5 by Happy Member (anonymous) posted on
Happy Member
This is a great product and given the interest rate environment we are in, 3.51% APY is still a great rate!  I've been a member a long time and love the service they provide and the fact that I can go to any ATM and get ALL of my fees back.

Comment #6 by CU Later (anonymous) posted on
CU Later
I second that Happy Member! I make more interest each month with this account than on any CD I could get right now AND I have access to my money. The monthly requirements are easy to meet and I enjoy the flexibility of going to any ATM when the need arises and not having to worry about getting stuck with all those fees!