High-Yield Reward Checking Account at Premier Credit Union in Iowa - Local Only

Jump to section:

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

Premier Credit Union is offering a high-yield reward checking account with a notable rate. I'm not sure how I missed this credit union's reward checking account. It appears to have been around since at least April 2009. It definitely deserves a mention. Below are the rates if certain monthly requirements are met (as of 11/12/2010):

• 4.00% APY on balances up to $25,000
• 0.25% APY on portion of balance above $25,000
• 0.25% base rate if requirements are not met

Monthly requirements include:

• 15 signature-based Debit Card transactions
• Direct deposit
• Online account access
• Receive e-statements

There are no monthly fees or minimum balance requirements. However, there doesn't appear to be any ATM fee reimbursements. The only thing that is mentioned at the credit union's website is that there are no ATM surcharge fee at Privileged Status ATMs.

How It Compares to Others

As a comparison to other reward checking accounts, the rate is above average for reward checking accounts with a $25K balance cap. The downside is the 15 debit card purchases that are required. Most required only 10. However, this has been going up as banks and credit unions try to keep these accounts profitable. Another downside is the apparent lack of ATM fee reimbursements. However, for credit unions that are part of a large ATM network, I wouldn't consider this a major issue.

Membership Eligibility

Credit union membership is open to everyone who lives or works in Boone, Dallas, Jasper, Madison, Marion, Polk, Story or Warren County. Please refer to the credit union's membership section for more details.

Branches are located in the Iowa cities of Des Moines, Ames and West Des Moines.

The credit union has an overall health score at DepositAccounts.com of 3 out of 5 with a Texas Ratio of 16.80% (excellent) based on June 2010 data. Please refer to our financial overview of Premier Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 64271).

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.