Associated Credit Union of Texas (ACU of Texas) unveiled its Premier Checking more than three years ago, when the field of membership was only three Texas counties. The Premier Checking account initially offered 3.00% APY on qualifying balances up to $20k, but that rate recently dropped to 2.00% APY. Both qualifying balances above $20k and non-qualifying balances earn 0.01% APY.
The Premier Checking’s monthly qualifying requirements have remained the same:
- At least 10 signature-based debit card transactions (minimum $5 each).
- Direct Deposit of at least $500 per month.
- Receive eStatements.
The Premier Checking account requires a minimum opening deposit of $100, and has a $1 minimum balance requirement to keep the account open. There is a $5 monthly service charge should the average daily balance fall below $5k. There are no ATM fee reimbursements, but ACU of Texas participates in the Allpoint ATM network, offering 55,000 surcharge-free ATMs worldwide.
Excess Share Insurance
Deposits at ACU of Texas are fully insured up to $500,000: at least $250,000 by the NCUA and $250,000 by Excess Share Insurance, the nation’s largest provider of excess share insurance since 1993.
With ESI Excess Share Insurance in place, a member may have as much as an additional $250,000 of coverage, raising their total deposit insurance protection on their individual share accounts to as much as $500,000.
Headquartered in League City, Associated Credit Union of Texas’ field of membership (FOM) is residency based, with individuals who live, work, or worship in the Texas counties of Austin, Brazoria, Brazos, Burleson, Chambers, Fayette, Fort Bend, Galveston, Grimes, Harris, Lee, Liberty, Matagorda, Montgomery, Waller, Washington, or Wharton, or within ten miles of the Brenham branch location eligible to join. Since I last wrote about the Premier Checking account in 2017, ACU of Texas has added 14 counties to its FOM.
Family/household members of current ACU of Texas members also qualify for membership.
Joining ACU of Texas and/or opening a Premier Checking account can be done online, or at any of 15 Texas branches located in Alvin, Cypress, Deer Park, Friendswood, LaMarque, League City (3), Pasadena (2), Pearland (3), Santa Fe, and Texas City.
A minimum opening deposit of $1.00 in a Regular Savings account is required to establish an ACU of Texas membership.
Credit Union Overview
Associated Credit Union of Texas has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.45% (excellent), based on June 30, 2020 data. In the past year, ACU of Texas increased its total non-brokered deposits by $74.1 million, an excellent annual growth rate of 20.83%. Please refer to our financial overview of Associated Credit Union of Texas (NCUA Charter # 60608) for more details.
Founded in 1968, Associated Credit Union of Texas is currently the 55th largest credit union headquartered in Texas, with more than 41,300 members and assets in excess of $477 million. According to the 2020 Annual Meeting minutes,
We are proud to continue offering products and services specifically designed for our Veterans and First Responders. Our Marketing and Business development teams were hard at work promoting ACU of Texas in the community with over 60 events hosted including lunches for our local Veterans groups, first responders and non-profits.
How the Premier Checking Compares
When compared to 84 High Yield Reward Checking Accounts tracked by DepositAccounts.com that are available within the FOM and have maximum qualifying balances of at least $20k, Associated Credit Union of Texas’ Premier Checking APY currently ranks fifth.
The above rates are accurate as of 9/28/2020.
To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.