High-Yield Reward Checking Account at a Multi-State CU (Altra)

Update 4/1/11: The top yield has fallen to 2.50% APY. Refer to the bottom of the post for the rate history.

Altra Federal Credit Union has a reward checking account called Altra Plus A+ Checking that pays 2.50% APY on balances up to $25,000 (0.50% for over) and refunds ATM fees (up to $20/cycle) if the following monthly requirements are met: 1) 10 check card purchases, 2) one direct deposit of at least $50, 3) access online banking, and 4) receive eStatements. If these are not met, the rate falls to 0.25%. There are no monthly fees or minimum balance requirements.

The credit union also provides an electronic funds transfer feature. Standard transfers are free with this reward checking account.

Membership is open to anyone who lives, works, studies or worships in parts of La Crosse, Wisconsin; Winona, Minnesota; Smith County, Texas; and Montgomery County, Tennessee. You can also be eligible if you have an immediate family member who meets the above qualifications. Please see the credit union's Membership page for other ways to be eligible to join. Membership requires a minimum deposit of $5 in the basic saving account.

Branches are located in Clarksville, Tennessee; Fort Smith, Arkansas; Trenton, New Jersey; Tiffin, Ohio; Tyler, Texas; Pueblo, Colorado; Lexington and Paintsville, Kentucky; La Crescent and Winona, Minnesota; and La Crosse and Onalaska, Wisconsin. The credit union is federally insured by the NCUA (Charter # 24077). It has $542.5 million in assets and 53,001 members.

Other High Yield Reward Checking Accounts

For more information on reward checking accounts, please refer to one of these posts: reward checking overview, list of reward checking accounts around the nation, and the best checking account post.

Rate History:

• 04/01/11: 2.50% APY up to $25K
• 07/02/10: 3.00% APY up to $25K
• 05/01/10: 3.25% APY up to $25K; 0.50% over
• 09/01/09: 3.50% APY up to $25K, 0.75% over
• 05/01/09: 4.00% APY up to $25K
• 03/01/09: 4.25% APY up to $25K
• 02/01/09: 4.50% APY up to $25K
• 03/31/08: 5.05% APY up to $25K
• 12/30/07: 6.06% APY up to $25K, 1.00% over, 0.25% base

Edit 12/30/08: ACH debit no longer listed on website.