Allegiance Credit Union In OK Cuts Reward Checking Cap From $35K To $20K

I'm afraid the trend of lower balance caps for reward checking accounts continues.

Allegiance Credit Union which serves the Oklahoma City Metro area recently lowered the balance which qualifies for the top yield from $35K to $20K. At least the rate remains the same at 4.01% APY. For the portion of the balance over $20K, the rate drops to 0.60%.

When I first reported on this reward checking account in February 2009, it was offering 5.01% APY on balances up to $35K.