Advantis Credit Union’s Reward Checking - Long History of Top Rates

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BancVue makes the case that high-yield reward checking accounts like the Kasasa Cash account are a win-win relationship between the bank and the customer. If that’s the case, reward checking accounts should be sustainable for the long-term. The best evidence of this are reward checking accounts that have a long history of top rates and reasonable balance caps. One example is the Fusion Checking at Advantis Credit Union. I first reported on this account in 2007 when it had a yield of 6.25% with no balance cap. The rate has fallen and there’s now a balance cap, but the account remains very competitive and a good alternative to internet savings accounts. Another nice thing to report on Advantis is that the credit union’s field of membership has expanded so more people are eligible to join Advantis and open this account.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.75*%-$25kAdvantis Credit UnionFusion Checking
Accounts mentioned in this post. Rates as of August 24, 2016.

Below is a summary of the Fusion Checking account based on Advantis Credit Union’s checking page as of 1/23/2014:

Rates and ATM fee refunds if certain monthly requirements are met:

  • 2.25% APY on balances up to $25,000
  • 0.20% APY on portion of balance over $25,000
  • 0.10% APY on entire balance if requirements are not met
  • ATM fees refunded nationwide (up to $25 per month)

Monthly requirements to qualify for the above rewards:

  • 12 debit card purchases (PIN or signature)
  • 1 automatic payment or direct deposit
  • Log in to online banking at least once
  • Receive statements electronically

Only one Fusion Checking account is allowed per primary member. There is no minimum balance requirement, and there is no monthly service fee. The minimum initial deposit to open the account is $25.

Membership - OR and WA

When reported on Advantis in 2012, membership was primarily limited to the Portland metro area. That has expanded. Membership is now open not only to residents of the Portland metro area, but also to residents of many Oregon counties. In addition, membership is now open to those who live, work, worship, or attend school in the State of Washington. For more details about membership please refer our Advantis Credit Union overview.

Membership and account opening can be done online.

Credit Union Overview

Advantis Credit Union branches are located in Portland, Hillsboro and West Linn, Oregon.

The credit union has an overall health grade at DepositAccounts.com of an A+ with a Texas ratio of 1.96% (excellent) based on September 2013 data. Please refer to our financial overview of Advantis Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 62659).

How This Reward Checking Rate Compares

The only reward checking account in Oregon with a higher rate for the same balance cap is the Eco Checking at Point West Credit Union in Portland. It currently has a 2.53% APY for balances up to $25K. Unlike Advantis, membership is narrow. The field of membership is primarily limited to select employee groups.

The best reward checking account with a $25K balance cap that’s nationally available is the Security Bonus Checking account at Security Bank. It currently has a 2.05% APY. The bank is currently accepting applications from people in any state, but please be aware that the account availability policy often changes.

The above rates are accurate as of 1/23/2014.

To find the highest reward checking rates in your area, please refer to our reward checking rate table. This can also be used to find accounts available nationwide. If you're new to these tables, my rate table guide should be useful.

If you're new to reward checking, my blog post, 10 Common Traits of High-Yield Reward Checking, should be useful.

Comments
Ryan L
Ryan L (anonymous)   |     |   Comment #1
6.25% with no cap at one point?!  $562 potential certainly makes it one of the best in the country, but sticking with LMCU 3% on $15k despite making a little less each year.  Wonder if we'll ever see higher APY rates anytime soon.  Great article.
Alskar
Alskar   |     |   Comment #2
I've been a member of Advantis CU since early 2009.  As you noted their Fusion checking is really great, but you missed the fact that they have one of the top HSA Savings rates in the entire country; for balances over $10K in an HSA account they're paying 2% APY. 

The branch in West Linn just opened.  That gives them a presence in the southern part of Portland, OR.  On top of that, they have two branches that are open on Saturday.

The only downside of Advantis that I can see is the fact that they recently eliminated their safe deposit boxes.  Now I'm not sure what I'm going to do for a safe deposit box. 
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