UMassFive College FCU is offering a reward checking account called Co-op Advantage Checking. It pays 3.90% APY on balances up to $25,000 (1.01% for above) and refunds up to $25 per cycle of nationwide ATM fees if the following monthly requirements are met:
- 12 debit card purchases
- 1 direct deposit or ACH auto debit
- receive eStatements
Membership is open to employees of the UMass system, Amherst College, Hampshire College, Mt. Holyoke College, and Smith College. There are other groups that are also eligible. Please refer to the credit union's Membership Page for the full details. Membership requires a minimum balance of $5 in the share savings account.
Branches are located in the Massachusetts cities of Hadley, Amherst, Worcester and Northampton.
The credit union is federally insured by the NCUA (Charter # 18181).
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.
10/01/09: 3.90% APY up to $25K
05/05/09: 4.09% APY up to $25K
12/30/08: 4.59% APY up to $25K; 1.01% over; 0.10% base