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High-Yield Reward Checking Account at Mountain Credit Union in North Carolina - Local Only

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Mountain Credit Union

Mountain Credit Union has a rewards checking account with the following rates and features if certain monthly requirements are met:

  • 4.15% APY on balances up to $25,000
  • 1.01% APY on balances over $25,000
  • 0.05% base rate if qualifications are not met
  • Refunds of ATM fees nationwide up to $25 per cycle

The monthly requirements include:

  • 12 signature-based debit card purchases
  • one direct deposit
  • receive e-statements

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

  • No minimum balance requirement
  • No monthly service charge
  • Multiple accounts can be opened, but requirements must be met for each account

Credit union membership is open to anyone who lives, works, worships or attends school in Buncombe, Haywood, Henderson, Jackson, Macon or Swain county of Western North Carolina or in the Cherokee Indian Reservation. Please refer to the credit union's membership page for the full details. Membership requires a $25 minimum balance in the Main Share Account.

Branches are located in Asheville, Cherokee, Fletcher, Franklin, Sylva and Waynesville, NC. The credit union is federally insured by the NCUA (Charter # 68531).

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:

  • 02/15/10: 4.15% APY up to $25K (update made on 9/3/10)
  • 05/22/09: 5.15% APY up to $25K; 1.01% over; 0.05% base

  Tags: North Carolina, Mountain Credit Union, checking account, reward checking account

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Comments
6 Comments.
Comment #1 by Anonymous posted on
Anonymous
Banking Guy, Just want to thank you for all the work you do. You have helped me tremendously to get great bank and credit card deals over the last 2 years. I have had it with the stock market. I have lost tons of $.(i am 61 years old and a nyc police sergeant) and am looking to retire in 2 years. I opened a rollover ira last year at Key Bank (what was left of my stock IRAS)for 5.25% over 48 months, an IRA this year at Dime bank at 3.25% And started 3 reward checking accts at Malvern about 6 months ago. ALL BECAUSE OF YOU. keep up the good work. btw, do have a regular job? Also, why is there hardly any talk about the rewards checking. Malvern has had the 5% for at least a year. Its fun to keep track of the credit card purchases and dd and online payments. It does get confusing with 3 accounts, but if you are conscientious it works! barrytuneup@yahoo.com

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Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
Glad you're finding this site useful. It's just a part-time hobby (I do have a full-time regular job).

Reward checking rates are falling, but they continue to lead the rates of both savings accounts and CDs. The average rate for the 391 institutions listed at my reward checking site is 3.99% apy as of 5/22/09.

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Comment #3 by Anonymous posted on
Anonymous
Strictly local.

1
Comment #4 by Anonymous posted on
Anonymous
This CU is military/Government oriented; more restricted to NSA:D

They started up becuase some members could not join a FCU. Now they are so restricted even Mr. Water can not leak in.

Their service is terrible as well; nobody answering the f#$@ phone call.

Their safety ranking is ok, but I would not get close to them with a ten-feet pole.

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Comment #5 by 51hh posted on
51hh
4.15% as of 2/28/10; out of the 5% league.

1
Comment #6 by Anonymous posted on
Anonymous
banking guy- thanks for your work- I've always found you helpful- FYI, Mountain Credit has reduced their cap level to $15,000 from 25,000.

1