4.05% Reward Checking Account at a New Mexico CU (State Employees)

Update 12/03/09: The yield has gone done to 4.05% APY. See bottom of the post for the rate history.

State Employees Credit Union has started a reward checking account that pays 4.05% APY on balances up to $35,000 (1.25% for above) and refunds ATM fees if the following monthly requirements are met: 1) 10 debit card purchase transactions, 2) one direct deposit or electronic withdrawal, 3) receive statement electronically, and 4) use online banking. If these are not met, the rate falls to 0.15%. There are no monthly service charges or minimum balance requirements.

Membership is open to anyone who lives or works in Valencia or San Miguel County, and any person who works for or has retired from any state, city or county agency in New Mexico. For the full details please refer to the credit union's membership page. Membership requires a one-time $1 fee and the opening of the Prime Share Savings account.

Branches are located in Santa Fe, Albuquerque, Belen, Las Vegas and Los Lunas, New Mexico. The credit union is federally insured by the NCUA (Charter # 65513). It has $197.2 million in assets and 31,962 members.

Other High Yield Reward Checking Accounts

For other reward checking accounts and for more information on these accounts, please refer to the following posts:

• reward checking overview
• reward checking accounts available nationwide
• reward checking accounts around the nation

Rate History:
12/01/09: 4.05% APY up to $35K; 1.25% over
04/01/09: 4.25% APY
10/25/08: 5.02% APY
02/28/08: 6.01% APY up to $35K; 1.51% over; 0.15% base

Tags: State Employees Credit Union, New Mexico, checking account, reward checking account