Superior Choice Credit Union Adds Rate-Leading Reward Checking Account

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Deal Summary: Superior Checking, 7.00% APY on qualifying balances of $5k-$25k, $100 minimum opening deposit.

Availability: Easy membership requirement.

Wisconsin-based Superior Choice Credit Union (SCCU) has unveiled its new reward checking account, Superior Checking, which earns 7.00% APY on qualifying balances between $5k and $25k. The minimum opening deposit is only $100, but any balance of less than $5k earns no interest.

The other rate tiers (as described on the landing page) are not that impressive.

    Average daily balances of $25,000.01 – $50,000.00 earn 2.00% APY.
    Average daily balances of $50,000.01 – $100,000 earn 1.00% APY.
    Average daily balances over $100,000.01 earn 0.10% APY.

In addition to maintaining a minimum daily average balance of $5k and being enrolled in e-statements, at least one of the following qualifying requirements must be met to earn the stated APY:

  • Have an active loan
  • A business relationship
  • At least $500 in monthly direct deposit.

What stands out about the Superior Checking qualifying requirements is what’s not there: debit card transactions. While the Superior Checking account comes with a free debit card, it plays no role in qualifying for the stated APY. If you have $500 in a monthly direct deposit, the Superior Checking account provides a simple path to 7.00% APY on a maximum $25k balance.

Availability

Headquartered in Superior, Wisconsin (on the Lake Superior shoreline), Superior Choice Credit Union’s field of membership (FOM) provides a way for almost any U.S. citizen or resident alien to join.

Easy membership – members of the American Consumer Council ($8 fee) or the Douglas County Historical Society ($30 one-year membership) are eligible to join SCCU, regardless of where they reside. Joining either organization must be done before a membership application is submitted.

Residency: – Individuals who live or work in the Wisconsin counties of Ashland, Barron, Bayfield, Burnett, Chippewa, Clark, Douglas, Dunn, Eau Claire, Iron, Rusk, Sawyer, Taylor, or Washburn are eligible to join.

Individuals who live or work in the Minnesota counties of Carlton, Itasca, or St. Louis also qualify for membership.

Account Opening

Joining SCCU and/or opening a Superior Checking account be done online, or at any of ten Wisconsin branches located in Ashland, Cable, Eau Clarie, Gilman, Hayward, Ladysmith, Mellen, Rice Lake, and Superior (2), or the three Minnesota branches located in Duluth, Grand Rapids, and Hermantown.

Become a member at Superior Choice Credit Union by opening a Membership Savings account. With a minimum balance of only $5, you can open a basic savings account to start building your savings and earning dividends to achieve your financial goals faster.

SCCU participates in both the CO-OP Shared Branch and ATM networks.

Credit Union Overview

Superior Choice Credit Union has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 18.47% (above average) based on June 30, 2023 data. In the past year, SCCU has increased its total non-brokered deposits by $135.2 million, an excellent annual growth rate of 25.9%. Please refer to our financial overview of Superior Choice Credit Union (NCUA Charter # 67173) for more details.

Established in 1932, the original Co-op Credit Union was housed in a grocery store, with 26 members and less than $100 in deposits. The first re-brand occurred in 1967, when the credit union became known as Superior Community Credit Union. In 1996 and 1998, mergers with Chequamegon Credit Union and Marathon-Ashland Credit Union were finalized, expanding the FOM and leading toward the Superior Choice Credit Union rebrand. In an unusual move, SCCU acquired Dairyland State Bank in 2018. The most recent acquisition was finalized this past January when Hayward Community Credit Union merged into SCCU. Currently the 18th largest credit union headquartered in Wisconsin, SCCU has more than 43,500 members and assets in excess of $792 million.

How the Superior Checking Compares

When compared to the High Yield Reward Checking Accounts tracked by DepositAccounts.com, that are available nationwide and have maximum qualifying balances of at least $25k, no bank or credit union has a higher APY than currently offered on the Superior Choice Credit Union Superior Checking account.

The above rates are accurate as of 11/30/2023.

To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.

Related Pages: Minneapolis checking accounts, Duluth checking accounts, La Crosse checking accounts, Wausau checking accounts, reward checking accounts, nationwide deals



Superior Choice Credit Union Adds Rate-Leading 7-Month CD Special
Deal Summary: 7-Month Share Certificate Special, 5.65% APY, $500 minimum deposit, new money, available through July 31, 2023.

Availability: Easy membership requirement.

Now through July 31, 2023, Wisconsin-based Superior Choice Credit Union (SCCU) is offering a rate-leading 7-Month Share Certificate Special. While SCCU offers tiered APYs ($500 or $100k minimum deposits) on its regular Share Certificates, the 5.65% APY applies to all balances of $500 and greater. New money is required and is defined as “deposits and investments not previously held in a Superior Choice Credit...

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Superior Choice Credit Union Boosts 5-Year CD Rate
Deal Summary: 5-year Share Certificate, 1.40% APY ($100k), 1.35% APY ($50k), 1.30% APY( $25k), 1.25% APY ($10k), 1.20% APY ($2.5k)

Availability: Easy membership requirement

Wisconsin-based Superior Choice Credit Union (SCCU) raised the rates on the vast majority of its Share Certificates, with the 5-year having the most competitive rates. SCCU offers tiered APYs on all its Share Certificates based on minimum deposits of $2.5k, $10k, $25k, $50k, and $100k.

The 5-year Share Certificate is also available as an IRA Share Certificate (Traditional, Roth) earning the...

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Superior Choice CU (WI) Offers Competitive 25-month and 47-month CDs

UPDATE 3/5/2015: No longer available

Availability: Easy Membership

Superior Choice Credit Union (SSCU) has two competitive rate Certificate Specials (CDs): 25-month CD (1.50% APY) and 47-month CD (2.00% APY). Both CDs require a $5K minimum deposit of new money, with no maximum balance cap.

According to CSR, the Early Withdrawal Penalty (EWP) on the 25-month CD Special is 90 days interest, while the EWP on the 47-month CD Special is 180 days interest.

The fine print on SCCU’s Rate page states,

The 25 month certificate will roll into a...

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Special 20-Month CD Rate in Parts of WI & MN at Superior Choice Credit Union

Last year in October Superior Choice Credit Union was offering an 18-month CD special. This year, the special is a 20-month CD, and the rate is 25 basis points higher. The new special is a 1.50% APY 20-month share certificate. Minimum deposit is $10,000, and new money is required. The early withdrawal penalty is 365 days of interest. This CD special is listed at the bottom of the credit union's rates page as of 10/18/2013.

Credit union membership is open to those who live or work in the Wisconsin counties of...

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Special 18-Month CD Rate in Parts of WI & MN at Superior Choice Credit Union

Superior Choice Credit Union is offering a special 18-month share certificate with a 1.25% APY. Minimum deposit is $10,000, and new money is required. The early withdrawal penalty is 180 days of interest. This CD special is listed at the bottom of the credit union's share certificates rates page as of 10/29/2012.

Credit union membership is open to those who live or work in the Wisconsin counties of Ashland, Bayfield, Burnett, Douglas, and Iron. Also included are parts of the Minnesota counties of St. Louis and Carlton. Please refer to the...

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