Update 7/27/10: The reward checking account is temporarily unavailable for new accounts.
Greater Nevada Credit Union has started a reward checking account called Greater Checking that pays 3.00% APY on balances up to $25,000 (0.25% for above) and refunds all ATM fees if the following monthly requirements are met: 1) 12 debit card transactions, 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 minimum balance requirements and no monthly service charges.
This is one of the few institutions that don't limit the amount of ATM fee reimbursements. Many institutions are now adding a monthly limit of around $25. I think the limit is a good idea especially if their customers are likely to visit casinos often. A friend of mine who has a reward checking account at a local credit union made use of the unlimited ATM fee reimbursement during a trip to Vegas. He said he racked up over $80 of ATM fees. That can't be good in helping the credit union keep the interest rate high.
Membership is open to those who live or work in northern Nevada. Please refer to the credit union's membership page for the full details. Membership requires a $5 fee and a minimum deposit of $25 into your share savings account. An online application is available.
Branches are located in the Nevada cities of Carson City, Reno, Sparks, Minden, Ely and West Wendover. The credit union is federally insured by the NCUA (Charter # 68228). It has $516.9 million in assets and 51,774 members.
For other high yield reward checking accounts and to learn more about these accounts, please refer to my High Yield Checking website.
- 04/01/10: 3.00% APY for under $25K
- 04/01/10: Temporarily unavailable for new accounts
- 10/01/09: 3.00% APY for under $50K
- 05/01/09: 2.00% APY for under $50K
- 04/01/09: 1.75% APY for under $50K
- 02/06/09: 2.75% APY for under $50K, 0.25% APY for over $50K
- 11/08/08: 4.25% APY for under $50K, 0.50% APY for over $50K
- 04/14/08: 5.00% APY for under $50K, 0.65% APY for over $50K