High-Yield Reward Checking Account at an Illinois Bank (First Clover Leaf)

Update 9/29/2010: The top rate has fallen to 3.85% APY, and the cap has fallen from $25K to $15K.

First Clover Leaf Bank has a reward checking account called My Great Rate Checking that pays 3.85% APY on balances up to $15,000 (0.50% for above) and refunds ATM fees when the following monthly requirements are met:

• 10 debit card purchases
• one direct deposit or ACH debit
• 3 online bill payments
• receive electronic statements

If these are not met, the rate falls to 0.15%. There are no minimum balance requirements and no monthly fees.

As of 9/29/2010, the bank requires new customers to visit a branch to open this reward checking account.

Branches are located in Edwardsville, Illinois which is in the suburbs of St. Louis. The bank has been FDIC insured since 1948 (FDIC Certificate # 30330).

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.

Rate History:

• 09/29/10: 3.85% APY up to $15K; 0.50% over; 0.15% base rate
• 02/11/10: 4.01% APY up to $25K
• 09/19/09: 4.50% APY up to $25K
• 03/06/09: 5.25% APY up to $25K
• 05/13/08: 6.01% APY up to $25K; 0.50% over $25K; 0.25% if requirements not met