Update 1/2/2012: The top yield has fallen to 3.56% APY. Refer to the bottom of the post for the rate history.
Erie General Electric FCU has a reward checking account called High Dividend Checking which pays 3.56% APY on balances up to $25,000 (none paid for above) if the following monthly requirements are met:
- 12 signature Debit Card transactions
- one ACH transaction
- average daily balance of $500
- enrolled in online banking, BillPayer and eStatements
If these are not met, the rate falls to 0.10%. There doesn't seem to be any monthly service charges, but I can't find where this is specifically stated.
Membership is open to anyone who lives, works or worships in Erie or Crawford County. More details are provided in their Membership page. Membership requires a minimum balance of $25 in the share savings account.
Branches are located in Erie, Grove City and North East, Pennsylvania. The credit union is federally insured by the NCUA (Charter # 1117).
Thanks to the reader who mentioned this reward checking account in the comments.
Other High Yield Reward Checking Accounts
To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.
- 01/02/12: 3.56% APY
- 03/25/11: 4.07% APY
- 05/14/09: 5.11% APY
- 07/01/08: 5.12% APY
- 05/12/08: 5.00% APY (initial post)