High-Yield Reward Checking Account at 1st Financial FCU in Missouri

Update 5/1/11: The top rate has fallen to 1.25% APY.

1st Financial FCU is offering a Free High Yield Rewards Checking account. The account offers the following features if certain monthly requirements are met:

• 1.25% APY on balances up to $25,000
• 1.00% APY on balances over $25,000
• 0.05% base rate if qualifications are not met
• ATM fees refunded nationwide up to $25 per cycle

Rates are listed at the credit union's reward checking page as of 3/24/09. The monthly requirements include:

• 12 debit card purchases
• one direct deposit or ACH debit/credit
• access your account with online banking
• receive e-statements

Additional features of the account regardless of the monthly requirements include:

• no minimum balance requirements
• no monthly fees
• unlimited check writing

Membership is open to anyone who lives, works, worships or attends school in the City of St. Louis, St. Louis County or St. Charles County. Please refer to the credit union's membership page for the full details. Membership requires a minimum deposit of $5 into your share savings account.

Branches are located in St. Louis, Hazelwood and St. Charles.

The credit union has solid financial ratings for soundness: 4 stars (excellent) at BauerFinancial (based on 12/31/08 data) and 4 stars (sound) at Bankrate.com (based on 9/30/08 data). The credit union is federally insured by the NCUA (Charter # 24774).

Thanks to the readers who notified me of this reward checking account.

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:

• 05/01/11: 1.25% APY
• 04/18/11: 2.01% APY
• 01/01/11: 2.61% APY
• 12/31/09: 3.01% APY
• 10/01/09: 4.01% APY up to $25K; 1% over; 0.05% base
• 03/24/09: 5.01% APY up to $25K; 1% over; 0.25% base