Dedicated to Deposits: Deals, Data, and Discussion
FMS Bank0.75%-$25kWindmill Smart Checking
FMS Bank0.05%--Windmill Smart Checking
Accounts mentioned in this post. Rates as of August 28, 2014

High-Yield Reward Checking Account at Fort Morgan State Bank in Colorado - Local Only


Fort Morgan State Bank is offering a very competitive rate on its reward checking account that it calls Windmill Smart Checking. The account is described in the bank's what's new page as of 12/15/2010 with the following rates and features:

  • 4.05% APY on balances up to $25,000
  • 0.25% on portion of balance over $25,000
  • 0.25% base rate if requirements are not met

Monthly requirements include:

  • 12 Visa debit card purchases
  • One direct deposit or ACH debit
  • Receive e-statements

The best nationally available reward checking accounts are only paying around 3.00% APY on balances up to $25K as of 12/15/2010. As in this case, you often can get higher rates with local deals.

It appears that a branch visit is required to open an account. It's a small bank with 2 offices in Fort Morgan, Colorado which is about 60 miles northeast of Denver.

The bank has an overall health score at of 3 out of 5 with a Texas Ratio of 17.39% (excellent) based on September 2010 data. Please refer to our financial overview of Fort Morgan State Bank for more details. The bank has been a FDIC member since 1982 (FDIC Certificate # 23764).

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

  Tags: Colorado, reward checking account, checking account

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Comment #1 by 51hh posted on
it is encouraging to see that there are still new 4%-level RCA offers, even though it is a very small bank.

Comment #2 by Anonymous posted on
This isn't's been around for about 6 months, at least. Just not reported on until now.


Comment #3 by Anonymous posted on
Just opened a couple of new accounts at this bank. VERY SOLID, and happen to be very friendly as well. The accounts with the (still current) 4.05% rate are available to anyone in Colorado. There is no need to go in-person; they will handle it all online or via FedEx. Can open multiple accounts for each person or family. Thank you for this website and for posting this bank's "Windmill" account!

Comment #4 by Carrie (anonymous) posted on
To update everyone on the Windmill Smart Checking account (our interest bearing checking account).  You do not have to be a resident of Colorado.  We are now set up to offer the Windmill Smart Checking account on a national level.  And you do not have to come to the bank to open the account.  We can do it with FEDEX, UPS or USPS.  Please call us for all the details. 

Comment #5 by Anonymous posted on
Just called and they said they would do a hard pull just like a loan application. I value each hard pull to be at least $250 and this might be a deal killer for me.