High-Yield Reward Checking Account at a Texas Credit Union (Beacon)

Update 9/12/10: The top rate has gone back up to 3.05% APY. Refer to the bottom of the post for the rate history.

Beacon FCU is offering a reward checking account called Free Vision Rewards Checking that pays 3.05% APY on balances up to $30,000 (0.51% for above) and refunds ATM fees if the following monthly requirements are met:

• 12 check card purchases
• one direct deposit or ACH debit
• receive electronic statements

If these are not met, the rate falls to 0.15%. There are no minimum balance requirements and no monthly service charges.

Membership is open to anyone who lives, works, worships, or attends school in areas east of Houston around Galveston Bay. Please see their About Us page for more detals. Membership requires a minimum deposit of $5 into the savings account.

Branches are located in La Porte, Baytown and Seabrook, TX. The credit union is federally insured by the NCUA (Charter # 6062).

Thanks to the reader who mentioned this reward checking account in the comments.

Other Reward Checking Accounts

To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.

Rate History:

• 09/12/10: 3.05% APY up to $30,000
• 05/14/09: 3.78% APY up to $30,000
• 03/01/09: 4.60% APY up to $30,000
• 02/02/09: 4.51% APY up to $30,000
• 02/01/09: 4.60% APY up to $30,000; 0.51% for above (effective 2/01/09)
• 07/14/08: 5.50% APY up to $40,000; 1.01% for above (in effect through 1/31/09)