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Rewards Checking Rate And Balance Cap Cuts At University Of Iowa Community Credit Union

Saturday, May 4, 2013 - 1:47 PMUniversity of Iowa Community Credit Union - Details
I was just notified by an official from the University of Iowa Community Credit Union that they will be lowering their rewards checking account rate and balance cap effective June 1, 2013. The changes include:
  • Top rate falling from 3.00% APY to 2.75% APY
  • Balance cap falling from $25K to $20K
I was told that members were notified twice over the last few days.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,634
1. Saturday, May 4, 2013 - 2:18 PM
Thanks, Ken.  At least they gave a month for adaptation.

Bailed out long ago since I do not have a good and efficient way to transfer the fund into the account (no shared branch, no CO-OP ATM deposit feature; the only way may be mailing the check or external ACHing into the account - both with long hold for fund).
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427
2. Saturday, May 4, 2013 - 2:25 PM
Ken, thank you for the heads up.  I can confirm that the credit union included this information in a notice displayed prominently on the first page of the 4/1-4/30 statement.  However, that is the only notification I have received.  There is nothing in my Email, although there may be something coming in snail mail. 

I have always been very pleased with the customer service there and they deserve kudos for the advance notice. 
pearlbrownpearlbrown1,474 posts since
Nov 2, 2010
Rep Points: 6,407