High-Yield Reward Checking at SAC Federal Credit Union in NE & IA - Local Only

SAC Federal Credit Union is offering a high-yield reward checking account with the following rates and features if certain monthly requirements are met (as of 8/01/2010):

• 4.01% APY for balances up to $25,000
• 0.25% APY for balances over $25,000
• 0.10% APY if requirements are not met
• ATM fee refunds up to $10 per month

Monthly requirements include:

• 12 debit card purchases
• Receive e-statements

Other account features include:

• $100 minimum opening deposit
• No minimum balance
• No monthly service charge

According to the credit union's Open New Account page:

Membership in SAC FCU is available to anyone who lives, works, attends school, or worships in Douglas, Sarpy and Cass Counties, NE, and Pottawattamie County, IA. Businesses and other entities qualify if they are located within any of the four counties.

Branches are located in the Nebraska cities of Omaha and Bellevue and in the Iowa city of Council Bluffs.

The credit union's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial, 4 stars (sound) at Bankrate.com and an overall health score of 4 out of 5 at DepositAccounts.com (see our financial overview of SAC FCU). The credit union is federally insured by the NCUA (Charter # 5400).

Thanks to the reader who emailed me news of this account.

Other High-Yield Reward Checking Accounts

It's nice to see another 4.00% reward checking account. These rates are getting harder to find for reward checking accounts with rate caps of at least $25K. The one downside is that it requires 12 debit card purchases per month. The old 10-per-month requirement continues to become less common.

Please refer to the reward checking section of DepositAccounts.com to find reward checking accounts in your state or that are available nationwide.