Consumers Credit Union's Reward Checking Balance Cap To Fall To $10K

A reader reported receiving an email from Consumers Credit Union informing him that they will be reducing the balance cap on its reward checking account from $25K to $10K effective November 1, 2010.

Currently, Consumers CU offers a reward checking that pays 3.09% APY on balances up to $25K and 0.76% for above. They now require 12 debit card purchases that are credit based (not PIN-based).

I'm afraid these $10K caps are becoming more common.