| Bank or Credit Union | Apy | Min | Max | Product | |
| Beacon Federal Credit Union | 2.05% | - | $25k | Vision Rewards Free Checking |
High-Yield Reward Checking Account at a Texas Credit Union (Beacon)
Update 9/12/10: The top rate has gone back up to 3.05% APY. Refer to the bottom of the post for the rate history.
Beacon FCU is offering a reward checking account called Free Vision Rewards Checking that pays 3.05% APY on balances up to $30,000 (0.51% for above) and refunds ATM fees if the following monthly requirements are met:
- 12 check card purchases
- one direct deposit or ACH debit
- receive electronic statements
If these are not met, the rate falls to 0.15%. There are no minimum balance requirements and no monthly service charges.
Membership is open to anyone who lives, works, worships, or attends school in areas east of Houston around Galveston Bay. Please see their About Us page for more detals. Membership requires a minimum deposit of $5 into the savings account.
Branches are located in La Porte, Baytown and Seabrook, TX. The credit union is federally insured by the NCUA (Charter # 6062).
Thanks to the reader who mentioned this reward checking account in the comments.
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:
- 09/12/10: 3.05% APY up to $30,000
- 05/14/09: 3.78% APY up to $30,000
- 03/01/09: 4.60% APY up to $30,000
- 02/02/09: 4.51% APY up to $30,000
- 02/01/09: 4.60% APY up to $30,000; 0.51% for above (effective 2/01/09)
- 07/14/08: 5.50% APY up to $40,000; 1.01% for above (in effect through 1/31/09)
Banks Mentioned in this Post:
| Beacon Federal Credit Union Locations: 3 Health Rating:  |   |
| Recent Posts: 7.00% 7-Month CD at a Texas CU - $2.5K Max (Beacon). | |
Anonymous - #1, Wednesday, July 16, 2008 - 10:27 PM
Hello Banking Guy, FYI, Beacon FCU has changed their website the next day you posted (7/15/08), so most of your links are dead now. They are still offering the 5.50% Checking account. Thanks
Banking Guy (anonymous) - #2, Thursday, July 17, 2008 - 7:23 AM
Thanks for the note. I've updated the links. That's why I always include the home page as the first link.
Mario (anonymous) - #3, Tuesday, January 6, 2009 - 6:38 PM
Banking Guy, we received a notice with the December statement that on Feb. 1 the highest rate will drop to 4.60% APY, up to $30,000 balance, and 0.51% above $30,000. As far as I can tell, this hasn't been announced on their website yet. While 4.60% is certainly still very competitive, I think it's somewhat unfortunate that the balance tier has changed closer to what other reward accounts offer. Overall, we've been very happy Beacon customers so far, though!
Banking Guy (anonymous) - #4, Tuesday, January 6, 2009 - 7:01 PM
Thanks for the update. Sorry to see the rate and cap fall, but I guess it should be expected. At least they notifiy members early of the change.
Anonymous - #5, Friday, February 6, 2009 - 9:08 PM
Looks like on 2/2/09 the top rate fell to 4.51% APY.
Anonymous - #6, Tuesday, March 31, 2009 - 10:46 PM
Looks like 3/1/09 the top rate went UP slightly: 4.60%. Other rates same.
[Footnote still reflects the old rate.]
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