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3.00% Reward Checking Account at a MA/NH Credit Union (Workers)


Workers' Credit Union
Update 4/02/09: The top yield has fallen to 3.00% APY. Refer to the bottom of the post for the rate history.

Workers Credit Union has a reward checking account called Xtreme Checking that pays 3.00% APY on balances up to $25,000 (1.01% for above) and refunds ATM fees (up to $10 per cycle) if the following monthly requirements are met: 1) 12 debit card purchases, 2) one direct deposit or ACH auto debit, and 3) receive electronic statements. If these are not met, the rate falls to 0.10%. There are no monthly fees or minimum balance requirements. The minimum opening balance is $25.

Membership is open to those who reside in Massachusetts or New Hampshire or work for a company that is based in Massachusetts. Please see their Who Can Join page for more details. Membership requires a minimum deposit of $25 in a share savings account.

The credit union is federally insured by the NCUA (Charter # 66479). It has $581.8 million in assets and 63,004 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:

Rate History:
03/26/09: 3.00% APY up to $25K; 1.01% over $25K
01/29/09: 3.50% APY up to $25K; 1.25% over $25K
12/26/08: 3.75% APY up to $25K; 1.50% over $25K
05/19/08: 4.51% APY up to $25K
03/25/08: 5.01% APY up to $25K; 3.00% over $25K

  Tags: Massachusetts, New Hampshire, Workers' Credit Union, checking account, reward checking account

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Comment #1 by Anonymous posted on
I live near WCU but bank at one of their competitors. Rollstone Bank & Trust has a reward checking called All-In-One that's paying 5.25% for up to $100,000. Over $100,000 is something like 2.3%, which is still really good.

Comment #2 by Migerial (anonymous) posted on
Thanks for posting this Reward Checking Account.

It is so much appreciated when people post about these local accounts, which Banking Guy might not hear about otherwise.

Rollstone has a great balance cap of $100,000, but don't expect this account to remain unchanged. Either they will have to lower the 5.25% interest rate, or they will have to lower the balance cap, so get mentally prepared.

Also, they require that you have your payroll, pension, or social security check direct deposited to get the higher rate. So, if you are self-employed, you can't get this account.

They require 10 debit card transactions, but that is easy.

Comment #3 by Anonymous posted on
So Rollstone is not opened to those out of state?

Comment #4 by Anonymous posted on
A word of advice to all the Savings enthusiasts.

Stay far away from First National Southwest Bank based in Texas. The guy who opened my account told me if I have a combined balance of around 10k in my accounts, I won't be charged any money. And I look at the statement and find that they charged me maintenance fee of $25 in March statement. This was not charged before, the lady who I talked to says, I haven't met requirements of $25000 cap, which is ridiculous because I never met that in the previous months either. Here is a bank which is suddenly changing rules and charging hfty fee for a freaking checking account which pays me $0.75 interest and charges me $25 account maintenance fee!!

Comment #5 by Anonymous posted on
WCU rate is down to 4.51%.

Comment #6 by Anonymous posted on
As of 12/26/08, rates lowered to 3.75% APY up to $25K; 1.50% over $25K

Comment #7 by Anonymous posted on
As of 1/26/09 the top rate has fallen to 3.50% APY and 2nd tier is now 1.25%.

Comment #8 by Anonymous posted on
As of 3/26/09 the top rates have fallen to: 3.00% APY up to $25K; 1.01% over. Base rate same.