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4.00% Reward Checking Account at University of Iowa Community Credit Union

Thursday, January 3, 2008 - 8:02 AM CT by Ken - Bank Deals Guy

View current rates for University of Iowa Community CU
Update 10/04/09: The top yield has fallen to 4.00% APY. Please see bottom of post for the rate history.

University of Iowa Community CU is offering a reward checking account that pays 4.00% APY on balances up to $25,000 (1.00% over) and refunds ATM fees if the following monthly requirements are met: 1) 12 Visa non-PIN check card purchases. Average transaction amount for the month must be greater than $5, 2) automatic deposit into the account, and 3) receive e-Statements. If these are not met, the rate falls to 0.10%. There are no minimum balance requirements.

Membership is open to those who live or work in any of the following Iowa counties: Johnson, Linn, Iowa, Cedar, Tama, Muscatine, Louisa, Keokuk, Poweshiek, Benton, Jasper, Marshall, Mahaska, or Washington. You may also join if you are a relative of a current member or attended the University of Iowa. Membership requires a minimum $5 deposit into the share savings aaccount.

Branches are located in Iowa City, Coralville, Grinnell and North Liberty. The credit union is federally insured by the NCUA (Charter # 60269). It has $595.5 million in assets and 50,848 members.

Other High Yield Reward Checking Accounts

Please see my reward checking overview for general information and a history of these reward checking accounts. For other reward checking accounts please see my list of reward checking accounts around the nation and the best checking account post.

Rate History:
10/01/09: 4.00% APY up to $25K; 1.00% over; 0.10% base rate; no more log in requirement listed
09/01/09: 4.25% APY up to $25K; 1.25% $25K-$50K; 1.00% over $50K; 0.10% base rate
07/02/09: Added $5 average debit card usage requirement
06/01/09: 4.25% APY
04/01/09: 4.50% APY up to $25K; 1.50% $25K-$50K; 1.00% over $50K; 0.10% base rate
01/06/09: 4.25% APY for up to $50K; 1.00% for above
11/01/08: 4.75% APY
8/30/08: 5.00% APY
5/06/08: 5.50% APY
4/07/08: 5.13% APY
3/03/08: 5.00% APY
1/03/08: 6.00% APY for up to $50K; 1.25% APY for above (initial post)



 
 
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In order by popularity, then date posted.

Sam - #1, Monday, March 3, 2008 - 9:56 AM CT

Several co-workers and I opened this account in early February. Service at the North Liberty branch was excellent. Unfortunately, (1) now I have to start "earning" my interest with debit card transactions, and (2) as of Friday, the rate has dropped to 5%. The good news is that that that's still better than any of my other accounts (GMAC, Amtrust, etc.). The bad news is that means I have nowhere to move the money to get a higher return!

Nonetheless, I am happy with my experience so far.


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Banking Guy - #2, Monday, March 3, 2008 - 11:13 AM CT

Thanks for the info. Sorry to see the rate decline. Hope they can at least keep it at 5% for a while.


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Anonymous - #3, Wednesday, January 7, 2009 - 12:10 AM CT

Rate table dated 1/1/09 states new rates as: 4.25% up to $50K; 1.00% APY over $50K; 0.10% if requirements not met.


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Anonymous - #4, Monday, April 6, 2009 - 6:41 PM CT

As of 4/1/09 BOTH rate and cap changes (note 3rd tier):
4.50% APY up to $25K
1.50% $25K - 50K
1.00% over $50K
0.10% do not meet


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Anonymous - #5, Thursday, July 2, 2009 - 11:01 PM CT

Requirement #1: 12 signature-based transactions must average at least $5. So it says.


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