Update 5/03/09: The top rate has fallen to 4.07% APY.
Erie Federal Credit Union is offering a rewards checking account called Dividends +Plus Checking. It pays 4.07% APY on balances from $500 to $25,000 (0.10% for above) and refunds up to four ATM transactions per month if the following monthly requirements are met:
- 15 PIN or signature based purchases
- pay at least one bill using the Free EZ Bill Pay
- maintain a $500 average daily balance
- receive e-statements and be enrolled in Free EZ Money Manager
This is one of the few reward checking accounts that have a monthly fee if you don't meet the reward checking requirements.
Membership is open to those who live, work, worship or attend school in Erie or Crawford County, Pennsylvania. Please refer to the credit union's Become A Member Page for more details. Membership requires a minimum $50 balance in the share savings account.
The credit union is federally insured by the NCUA (Charter # 1476).
Thanks to the reader who emailed me news of this 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 the reward checking account table.
05/01/09: 4.07% APY $500-$25K
03/03/09: 5.11% APY $500-$25K; 0.10% over and base rate