2.90% Reward Checking Account at an Oregon CU (Central Willamette Community)


Update 7/04/09: The top yield has fallen to 2.90% APY. See bottom of post for the rate history.

Central Willamette Community CU is offering a reward checking account that pays 2.90% APY on balances up to $25,000 (1% for above) and refunds ATM fees if the following monthly requirements are met:
  • 10 debit card transactions
  • one direct deposit or ACH debit/withdrawal
  • receive online statements
  • log into online banking
If these are not met, the rate falls to 0.10%. There are no monthly service charges or minimum balance requirements. According to their FAQ page (pdf), you can open multiple accounts, but each account must meet the above requirements.

Membership is open to those who live or work in the Oregon counties of Linn, Marion, Benton or Polk. Please refer to their Membership page for more details. Membership requires a minimum balance of $25 in the savings account.

Branches are located in the Oregon cities of Salem, Lebanon, Corvallis and Albany. The credit union is federally insured by the NCUA (Charter # 62665). The credit union has $181.3 million in assets and 27,163 members.

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

Other High Yield 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:
07/01/09: 2.90% APY
05/01/09: 3.00% APY
02/09/09: 3.40% APY
01/02/09: 3.92% APY
06/30/08: 4.67% APY
05/26/08: 5.67% APY
Related Pages: checking account, reward checking account

Previous Comments
  |     |   Comment #1
FAQ page dated 11/1/08 listed top rate as 3.92% APY. Other rates remain same.
  |     |   Comment #2
As of 2/1/09 the top rate is 3.40% APY. Other rates remain same.

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