Arbor Financial Credit Union Momentum Checking Earns Up To 5.00% APY

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Deal Summary: Momentum Checking, up to 5.00% APY on qualifying balances up to $15k

Availability: Residents of Michigan

Arbor Financial Credit Union’s (Arbor Financial) Momentum Checking account now earns 5.00% APY on its top activity tier. The second and third tier rates have remained the same – 2.00% and 1.00% APY. Balances over $15k do not earn any interest.

Qualifying Requirements

Although the top APY was increased by 100 bps, the qualifying requirements have not changed.

  • Monthly Direct Deposit of at Least $500
  • Enrolled in eStatements
  • Monthly debit card purchases (MDCP)
    • 1% for 10-19 MDCP
      2% for 20-29 MDCP
      5% for 30 or more MDCP

    The Momentum Checking has no minimum balance requirement or monthly service fees. If the monthly qualifications aren’t met, the account receives no interest for that month. There is a limit of one Momentum Checking account per member.

    Availability

    Headquartered in Kalamazoo, Michigan, Arbor Financial Credit Union’s field of membership (FOM) has recently expanded, and now individuals who live, work, or worship anywhere in Michigan are eligible to join.

    Joining Arbor Financial and/or opening a Momentum Checking account can be done online, or at any of ten Michigan branches located in Caledonia, Kalamazoo (2), Lawrence, Paw Paw, Plainwell, Portage (3), and Three Rivers.

    The Membership Application is also available in PDF format, and can be returned either in person or by mail.

    You'll need at least $5 to open your account.

    Arbor Financial provides its members with “access to thousands of ATMs nationwide through the CO-OP ATM Network and 5/3rd Bank Jeanie Network.”

    Credit Union Overview

    Arbor Financial Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.75% (excellent) based on December 31, 2018 data. In the past year, Arbor Financial has increased its total non-brokered deposits by $33.63 million, an excellent annual growth rate of 8.12%. Please refer to our financial overview of Arbor Financial Credit Union (NCUA Charter # 61708) for more details.

    Arbor Financial Credit Union was originally chartered in 1935 as the Educational Community Federal Credit Union, better known as ECCU. As the ECCU name suggests, the Credit Union exclusively served school employees (Kalamazoo school system), but grew to eventually include the residents of Kalamazoo County and three adjacent counties. Six years ago, the FOM expanded to cover 21 southwest Michigan counties, and in August 2016, the name was changed to Arbor Financial Credit Union to “better reflect the idea that it caters to more than just educators.” In late 2018, the FOM was again expanded to include all of Michigan, and Arbor Financial is now the 24th largest credit union in Michigan, with nearly 40,000 members.

    How the Momentum Checking Compares

    When compared to the High Yield Reward Checking Accounts tracked by DepositAccounts.com that are available in Michigan and have maximum qualifying balances of at least $15k, Arbor Financial Credit Union’s Amplify Checking highest APY currently ranks first.

    The above rates are accurate as of 6/5/2019.

    Looking for the best Reward Checking Account rates, either nationwide or state specific? Please refer to our High Yield Reward Checking Account Rates Table page.

    Related Pages: Grand Rapids checking accounts, reward checking accounts

    Comments
    deplorable 1
    deplorable 1   |     |   Comment #1
    Nice rate but 30 debit card transactions. I really wish banks would just offer a simple 5% capped savings account. They can certainly afford it with what they rake in on loans and fees. Plus they would have bragging rights offering the highest savings rate.
    Nickle and Dime
    Nickle and Dime   |     |   Comment #3
    I agree I might be lucky if I did 30 debit card transactions over a 1 year period. Unless you're nickle and diming it good luck with this.
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