Missouri-based Blue Ridge Bank and Trust Co.’s (Blue Ridge Bank) recently raised the rate on its Maximum Yield (MY) Checking, which now earns 2.55% APY, on qualifying balances up to $25k. Qualifying balances of $25k+ earn 0.25% APY, with non-qualifying balances earning 0.10% APY.
|2.55*%||-||$25k||Blue Ridge Bank and Trust Co.||Maximum Yield "MY" Checking|
|OTHER TIERS: 0.12% → $25k+|
Maximum Yield (MY) Checking Qualifying Requirements
- Have at least 12 debit or credit MasterCard® POS purchases per statement cycle.
- At least one Direct Deposit or ACH payment per statement cycle.
- Receive Electronic Statements.
The Maximum Yield (MY) Checking account has no monthly service or minimum balance requirement, but does require a minimum $100 opening deposit. ATM fees will be reimbursed “up to $25 for Nationwide ATM fees include up to $10 of Blue Ridge Bank Foreign ATM charges and up to $15 of Foreign ATM Owner charges,” if the qualifying requirements are met.
Maximum Yield (MY) Savings
The Maximum Yield (MY) Savings account currently earns 1.06% APY on qualifying balances up to $25k, with qualifying balances of $25k+ earning 0.20% APY; non-qualifying balances earn 0.20% APY. A $25 minimum opening deposit is required, as are electronic statements, enrollment in NetTeller Online Banking, and an active email account.
Six transfers per monthly statement cycle are permitted, and there is a $1k fee for each withdrawal in excess of three per statement cycle. If the Maximum Yield (MY) Savings account is closed within 180 days of opening, there is a $25 charge.
|1.06*%||-||$25k||Blue Ridge Bank and Trust Co.||Maximum Yield (MY) Savings Account|
|OTHER TIERS: 0.20% → $25k+|
Headquartered in Independence, Missouri, Blue Ridge Bank’s market area straddles Missouri and Kansas, with residents of the following counties eligible to apply:
Missouri Counties: Bates, Caldwell, Cass, Clay, Clinton, Jackson, Lafayette, Platte, and Ray.
Kansas Counties: Johnson, Leavenworth, Linn, Miami, Wyandotte.
Opening a Maximum Yield (MY) Checking and/or Savings account can be done online, or in person at any of nine Missouri branches, located in Blue Springs (2), Independence, Kansas City (2), Lee’s Summit (3), and Raytown.
Blue Ridge Bank and Trust Co. has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.62% (excellent), based on December 31, 2016 data. In the past year, the Bank has increased its total non-brokered deposits by $19.69 million, an excellent annual growth rate of 4.55%. Please refer to our financial overview of Blue Ridge Bank and Trust Co. (FDIC Certificate # 17933) for more details.
Founded by members of the Reich family, Blue Ridge Bank and Trust Co. opened for business in 1958 at the Blue Ridge Mall. While that statement sounds rather ordinary by today’s standards, it was actually groundbreaking, as the Blue Ridge Mall was the first suburban shopping mall in the Midwest. The Mall was located on land that belonged to the Reich family’s very large produce farm. Nearly 60 years later, Blue Ridge Bank is one of Missouri’s largest independently-owned community bank, with assets in excess of $510 million.
How the Maximum Yield (MY) Checking Compares
When compared to the 26 High Yield Reward Checking Accounts tracked by DepositAccounts.com that are available within the bank's market area and have maximum qualifying balances of at least $25k, Blue Ridge Bank and Trust Co.’s Maximum Yield (MY) Checking APY currently ranks second.
|Interest Rate||Account Name||Credit Union/Bank|
|3.01% APY||Kasasa Cash (up to $25k)||OakStar Bank|
|2.55% APY||Maximum Yield (MY) Checking (up to $25k)||Blue Ridge Bank and Trust Co.|
|2.50% APY||Kasasa Cash (up to $25k)||Bank21|
The above rates are accurate as of 5/18/2017.