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1.26% Reward Checking at Denali State Bank in Alaska

Friday, January 23, 2009 - 7:29 AM CT by Ken - Bank Deals Guy

View current rates for Denali State Bank

Denali State Bank is offering a reward checking account called Xtreme Checking that pays 1.26% APY on balances up to $25,000 (0.50% for above) and refunds ATM fees if at least 10 debit card purchases a month are done. Some downsides compared to the typical reward checking account include:

$25 monthly service charge if debit card requirements aren't met
ATM reimbursement form must be submitted to receive ATM refunds
Written checks are $2.50 each (but bill pay is free)

The main downside compared to other reward checking accounts is the low rate. However, the rate is comparable to their current 12-month CD. On the plus side, no minimum opening deposit is required.

Branches are located in Fairbanks and Tok, Alaska. The bank has been FDIC insured since 1986 (FDIC Certificate # 26530).

Thanks to the reader who mentioned this account in the comments.

Other Reward Checking Accounts

This is the first reward checking account that I've seen in Alaska. Unfortunately, the rate is very low for reward checking. But the rate is competitive compared to other liquid bank accounts at Alaska financial institutions. Alaska USA Federal Credit Union (Alaska's largest credit union) currently offers 1.30% APY on balances from $10K to $25K on its Super Money Market Account as of 1/23/09 (see rate table).

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.

Tags: rc25k, banks, Alaska, checking accounts, Denali State Bank, rewards checking accounts

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In order by popularity, then date posted.

Anonymous - #1, Friday, January 23, 2009 - 7:45 PM CT

$25 penalty for not doing enough debit transactions, $2.50 charge per written check, form submission required for ATM reimbursement - all for a 1.26% return on your money? Sounds like financial masochism to me.

Was this comment helpful? 1

Anonymous - #2, Friday, January 23, 2009 - 10:02 PM CT

I have followed this site for a while now because of great deals that are posted.

This is not a deal. Are you now posting anything, deal or not?

This wasn't even worth posting. Nothing about it is a "Bankdeal".

Was this comment helpful? 1

Banking Guy - #3, Saturday, January 24, 2009 - 6:32 AM CT

Please note my explanation that I had included in the posting:

This is the first reward checking account that I've seen in Alaska. Unfortunately, the rate is very low for reward checking. But the rate is competitive compared to other liquid bank accounts at Alaska financial institutions.

I've had readers from Alaska asking about reward checking accounts. I wish Alaska had better offerings, but this is the only one I've found so far.

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Anonymous - #4, Saturday, January 24, 2009 - 5:33 PM CT

Banking Guy, keep up the great job.
Keep reporting them like you see them.
I follow this site faithfully and have set a a CD ladder several years ago, thanks to this site. And in times of low interest rates like today's climate, CD laddering has literally been paying off. Thanks to you.

Was this comment helpful? 1

Anonymous - #5, Sunday, January 25, 2009 - 4:46 PM CT

agreed......thank you. As an Alaskan I appreciate this post regardless of whether or not I would use their services.

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1.26% Reward Checking at Denali State Bank in Alaska

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