Update 9/07/09: The top rate has fallen to 3.25% APY. Refer to the bottom of the post for the rate history.
Campus Federal is offering a reward checking account called Lagniappe Checking that pays 3.25% APY on balances up to $25,000 (0.25% for above) and refunds up to $30 in ATM fees nationwide if the following monthly requirements are met:
- 15 debit card purchases
- one direct deposit, ACH auto debit or Bill Pay
- receive paperless statements
As you might expect from the name, membership is open to students enrolled in the Louisiana State University System. Also eligible are those who live, study, work or worship in Baton Rouge, Shreveport, or New Orleans (some city boundaries excluded). Please refer to the credit union's Membership Eligibility Page for the full details. Membership requires a one-time fee of $5 and a minimum balance of $5 in any deposit account.
Branches are located in Baton Rouge, New Orleans and Shreveport, Louisiana.
The credit union is federally insured by the NCUA (Charter # 79).
Other High Yield 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.
09/02/09: 3.25% APY up to $25K
07/02/09: 4.25% APY up to $25K; 0.25% over $25K; 0.01% base rate
05/23/09: 4.25% APY up to $25K; 0.50% over $25K; 0.01% base rate
03/20/09: 4.25% APY up to $25K; 0.50% over $25K
02/09/09: 4.25% APY up to $25K; 0.65% over $25K
01/15/09: 5.01% APY up to $25K; 1.00% over $25K; 0.05% base rate
Edit 1/29/09: Rate if req's not met fell from 0.15% to 0.05%.