Update 4/04/10: The top rate has fallen to 4.01% APY. Refer to the bottom of the post for the rate history.
- 4.01% APY on balances up to $25,000
- 1.01% APY on portion of balance over $25,000
- 0.25% base rate if monthly requirements are not met
- Refunds all ATM fees nationwide without limit
The monthly requirements include:
- 10 MasterCard debit card purchases
- 1 automatic payment or direct deposit
- Access online banking
- Receive e-statements
Additional features of the account regardless of the monthly requirements include:
- $100 minimum initial deposit
- No minimum balance requirement
- No monthly service charge
There's an online application at the bank's micro-website. However, according to a bank representative, they still require a branch visit to complete the application process.
Branches are located in the Kansas cities of Girard, Yates Center, Bucklin, Offerle, Clay Center, Holton, Hiawatha and Wetmore, and in the Colorado cities of Lamar and Eads.
The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial (based on 6/30/09 data) and 4 stars (sound) at Bankrate.com (based on 3/31/09 data). The bank has been a FDIC member since 1934 (FDIC Certificate # 4673).
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.
04/01/10: 4.01% APY up to $25K
09/20/09: 5.01% APY up to $25K; 1.01% over; 0.25% base