High-Yield Reward Checking Account at Nassau Educators FCU in New York

Update 4/1/2011: The top rate has fallen to 3.50% APY

Nassau Educators FCU is offering a reward checking account called Go Green Checking. It pays 3.50% APY on balances up to $25,000 (0.50% for above) and refunds up to $15/month in ATM fees if the following monthly requirements are met:

• 12 VISA debit card signature-based purchases
• One direct deposit of at least $100 or other monthly recurring deposit of at least $100 OR Maintain an active free online bill payment account and pay at least one bill per month
• Receive eStatements

Update 12/2/10: From the credit union's Go Green Checking page

If the monthly requirements are not met, the bonus interest rate will be forfeited on balances up to and including $25,000. You'll continue to earn the competitive rate on balances over $25,000.

Update 7/18/10: The credit union has expanded its membership to include all those who live, work, worship or attend school in Nassau and Suffolk County, New York. Please refer to their Membership page for the full details. Membership requires a minimum deposit of $5 in the share savings account. An online application is provided.

Branches are located in the New York cities of Westbury, Valley Stream, Massapequa, Plainview, Syosset, Rockville Centre and Brookville. The credit union is federally insured by the NCUA (Charter # 2760).

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:

• 04/01/11: 3.50% APY up to $25K
• 08/03/10: 4.00% APY up to $25K; 0.50% over; base rate: 0% up to $25K; 0.50% over
• 02/17/10: 4.00% APY up to $25K; 0.65% over; 0.65% base rate
• 04/16/09: 4.00% APY up to $25K; 0.75% over; 0.75% base rate
• 12/24/08: 4.00% APY up to $25K; 1.00% over; 1.00% base rate

Edit 1/8/12: Updated monthly requirements.
Edit 1/18/09: Corrected based rate.