Bank of Edwardsville is offering a reward checking account called TheClub Checking. The account has the following rates and features if certain monthly requirements are met:
- 5.00% APY on balances up to $25,000
- 0.50% base rate if qualifications are not met
- Refunds up to 5 foreign ATM fees nationwide
- 12 debit card purchases
- One online bill pay
- Receive estatements
- Combined balance of $2500 in TheClub Checking & any of the savings accounts
- $50 minimum initial deposit
- No minimum balance requirement (if savings account greater than $2500 OR have an outstanding loan balance of $10,000 or more)
- $10 service charge if you do not meet the combined balance or loan requirements
The bank's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial (based on 6/30/09 data) and 3 stars (performing) at Bankrate.com (based on 3/31/09 data).
The bank started over 140 years ago and has been a FDIC member since 1934 (FDIC Certificate # 1039).
Other Reward Checking Accounts
Note that a companion savings account is necessary at this bank. Some static, minimal funding ($100) would meet the requirement. Similar, but different, concepts interlinking echecking with esavings would be Community First Bank in Arkansas and Metro Credit Union in Massachusetts.
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.