UPDATE 10/3/2016: Easy Membership Requirement has been narrowed.
Massachusetts based Alden Credit Union’s (Alden CU) Nuff Said Checking account earns 5.125% APY on qualifying balances up to $5k. Unlike most Rewards Checking Accounts (RCA), the Nuff Said Checking does not offer any interest on balances (qualified or not) over the stated cap.
- At least 20 POS or signature-based Debit Card transactions per billing cycle
- Set up Direct Deposit
- Enroll in eStatements and Online Banking/Mobile Banking
The Nuff Said Checking account has no monthly service fee, no minimum balance requirement, and no checks are issued. The minimum opening deposit is $10.
Headquartered in Chicopee in Western Massachusetts, Alden Credit Union offers membership in a variety of ways to virtually anyone in the U.S.
Residency: Individuals who live, work, worship, or attend school in the Massachusetts counties of Hampden or Hampshire are eligible to join.
Relationship: Family members (defined in this instance as parents, siblings, children, and spouses) of current Credit Union members also qualify for membership.
Easy Membership: Alden CU has expanded its field of membership to include
anyone who is a members of the American Consumer Council (ACC) who live "within a 100 mile radius of our main branch." The "Membership Eligibility” section on the first page of Alden CU’s online application reads,
Please enroll me in the American Consumer Council (ACC) so that I may open an account with Alden.
I understand the ACC provides consumer education to its members and once I am a member of ACC I am eligible for membership with Alden. Alden will handle everything including the fee to join the ACC.
Credit Union Overview
Alden Credit Union (NCUA Charter # 69751) has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 9.98% (excellent) based on March 31, 2016 data. In the past year, Alden CU has increased its total deposits by $4.91 million, an excellent annual growth rate of 4.37%. Please refer to our financial overview of Alden Credit Union for more details.
Alden Credit Union was originally established in 1939 as the Aldenville Credit Union, taking its name from a community within the city of Chicopee, Massachusetts. The Credit Union re-branded in 2011 and began an expansion which included a change in the field of membership, allowing out-of-state residents to join. Alden Credit Union is currently the 45th largest credit union in Massachusetts, with more than 21,200 members and assets in excess of $143 million.
How the Nuff Said Checking Compares
When compared to the 43 High Yield Reward Checking Accounts (RCA) tracked by DepositAccounts.com, which are available nationally and have maximum qualifying balances of at least $5k, Alden Credit Union’s Nuff Said Checking APY currently ranks first.
The above rates are accurate as of 8/26/2016.