High-Yield Reward Checking Account at Coastal Community and Teachers Credit Union in Texas - Local Only

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• How It Compares
• Membership
• Other High-Yield Reward Checking Accounts

Coastal Community and Teachers Credit Union is offering a high-yield reward checking account called Bonus Checking. It's another example of a low balance cap. However, the high rate helps offset this a bit. The account has the following rates and features if certain requirements are met (as of 11/23/2010):

• 4.33% APY on balances up to $10,000
• 1.00% APY on portion of balances over $10,000
• 0.10% base rate if requirements are not met
• ATM fee refunds nationwide

Monthly requirements include:

• 10 VISA Check Card purchases
• 1 ACH Direct Deposit or one ACH debit
• Access online banking
• Electronic statements

There is no monthly service charge or minimum balance requirement.

How It Compares

For accounts with a balance cap of $10K, the 4.33% APY is above average. For nationwide reward checking accounts with a $10K cap, I just reported on one with a 4.11% APY (see post). It's hard to find over 4% these days for balance caps of $25K. The best nationwide reward checking accounts with a $25K balance cap have yields around 3.00%. For this area of Southeast Texas, the best reward checking deal continues to be at NavyArmy Federal Credit Union which offers a 4.51% APY on balances up to $25K as of 11/23/2010.

Membership

Credit union membership is open to those who live or work in one of the following Southeast Texas counties: Nueces, San Patricio, Aransas, Kleberg, Jim Wells or Duval. Please refer to the credit union's membership page for the full details.

The credit union has an overall health score at DepositAccounts.com of 4 out of 5 with a Texas Ratio of 3.88% (excellent) based on June 2010 data. Please refer to our financial overview of Coastal Community and Teachers Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 68482).

Other High-Yield Reward Checking Accounts

To find reward checking accounts in your state or to find those available nationwide, please refer to the reward checking section of DepositAccounts.com.