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3.30% Reward Checking Account at a New Jersey Credit Union (Pinnacle)


Pinnacle Federal Credit Union

Update 10/21/2010: The balance cap has falleng from $30K to $15K. Refer to the bottom of the post for the rate history.

Pinnacle FCU is offering a rewards checking account that pays 3.30% APY on balances up to $15,000 (1.01% for above) and refunds ATM fees of up to $25 per month if the following monthly requirements are met:

  • 10 debit card purchases
  • one direct deposit or ACH debit
  • receive e-statements

If these are not met, the rate falls to 0%. There are no minimum balance requirements.

Pleae note that the rate is not listed on the rewards checking page. I just called today (6/30/08), and I was told that it's 5.01% APY for balances of up to $30,000. The webpage is listing a cap of $50,000 as of today. According to the CSR, this will be changing to $30,000 starting on July 1, 2008.

Membership is open to employees of several Select Employer Groups. The credit union's About Page doesn't provide too many details. The CSR had mentioned there are other ways you can be eligible in addition to employer groups, so I would recommend calling the credit union.

Branches are located in the New Jersey cities of Edison, Fairfield, Manchester, Somerset and Perth Amboy. The credit union is federally insured by the NCUA (Charter # 15095). It has $183.2 million in assets and 28,448 members.

Other 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:

  • 10/21/10: 3.30% APY up to $15K; 1.01% above; 0% base (called CU)
  • 06/03/09: 3.30% APY (yield is listed in the flash image on the home page)
  • 12/16/08: 4.07% APY
  • 06/30/08: 5.01% APY up to $30K (initial post)

  Tags: Pinnacle Federal Credit Union, New Jersey, checking account, reward checking account

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Comment #1 by Anonymous posted on
The flash I'm seeing right now states 4.25% APY.

Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Is that the flash on their front page? I'm still seeing it as 4.07% APY.