Dedicated to Deposits: Deals, Data, and Discussion

3.80% Reward Checking Account at Rockland Federal Credit Union in MA


Update 10/04/09: The credit union has discontinued the reward checking account as of 10/01/09. The rate for existing accounts dropped to 3.80% APY.

Rockland FCU is offering a reward checking account called Extra Checking. It pays 3.80% APY on balances up to $50,000 (0.30% for above) and refunds ATM surcharges up to $10 per month if the following requirements are met:
  • 10 debit card purchases per month
  • direct deposit of at least $100
  • Enroll in e-statements and online banking
If these are not met, the rate falls to 0.30%. There is no monthly service charge.

The credit union also has some other deposit products with competitive rates. One is the Smart Saver Account which pays 2.20% APY on balances from $15K to $100K if required activity is maintained in the checking account.

Membership is open to those who live or work in Barnstable, Bristol, Middlesex, Norfolk, Plymouth or Suffolk Counties of Massachusetts. Refer to the credit union's About Us Page for the full details. Membership requires a minimum share balance of $5. There's an online application via Andera which appears to allow you to join the credit union, open accounts and fund the accounts electronically.

Branches are located in the Massachusetts cities of Rockland, Marshfield, Hanover, Mansfield, North Attleboro, Plymouth, Attleboro,Walpole and Weymouth.

The credit union is federally insured by the NCUA (Charter # 24224).

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:
10/01/09: 3.80% up to $50K; discontinued for new accounts
07/01/09: Now requires direct deposit of at least $100
05/07/09: 4.00% up to $50K; 0.30% over; 0.30% base
01/30/09: 4.00% up to $50K; 0.40% over; 0.40% base

Related Pages: Massachusetts, checking account

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Comment #1 by Anonymous posted on
With all the recent rate/limit reduction, this FCU has gained my interest since its membership is limited and its limit being $50K. Please note that they are very strict on direct deposit, it has to be a payroll/social security deposit; not ACH transfer or ACH payment. Only one account will earn the 4%, even though multiple accounts are allowed.

Comment #2 by Anonymous posted on
Should read: "..balances from $5 - $50,000"

Comment #3 by Anonymous posted on
RFCU just changed their term to state "direct deposit of a minimum of $100." I had to call them to get the 4% interest for June; and they grandfathered me (i.e., no minimum for direct deposit." FYI.

Comment #4 by Anonymous posted on
RFCU discontinued their reward checking accounts as of 10/1/09, rate for existing accounts dropped from 4% to 3.8%.

Comment #5 by Anonymous posted on
Current APR is 3.25%.