New Reward Checking Account In Illinois - Local Only

Harvard Savings Bank has recently launched a reward checking account called WOW Rewards Checking. Here's a summary of the rates and features:

Rates as of 1/4/2013:

If monthly requirements are met:

• 2.50% apy on balances up to $15,000
• 0.05% apy for amount above $15,000
• up to $10 ATM refunds nationwide

Monthly requirements:

• 15 signature based debit card purchases
• 1 direct deposit each statement cycle

 Other noteworthy features:

• No minimum balance requirement
• No monthly maintenance charge
• First order of 50 printed checks free
• Free Online Banking & Bill Pay

 I don't see any online application, so new customers will probably have to visit one of the bank's branches. In addition to branches in Harvard, Illinois, the bank has a branch in Morris, Illinois which is about 40 miles southwest of Chicago.