Century Next Bank Priority Checking Offers Market-Leading Rate
Louisiana-based Century Next Bank (CNB) replaced its Kasasa Checking account with the Priority Checking account about six years ago. The original 4.00% APY on qualifying balances up to $15k has been increased to 7.00% APY on qualifying balances up to $30k. Qualifying balances over $30k earn 0.50% APY, with non-qualifying balances earning 0.05% APY.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 7.00*% | $0 | $30k | Century Next Bank (LA) | Priority Checking | |
| OTHER TIERS: 0.50% → $30k+ | |||||
Priority Checking Qualifying Requirements
- At least 12 debit card purchases ($5 minimum).
- Receive monthly account statement electronically.
- Minimum $500 aggregate ACH credit post and settle.
The Priority Checking has no monthly fee or minimum balance requirement, but does require a $50 minimum opening deposit. Unlimited check writing is available and a free debit card will be issued following account opening. Nationwide ATM fees will be reimbursed up to $15 per month if the qualifying requirements are met, with a maximum of $4.99 per single transaction. Using a non-Century Next Bank ATM will incur a $2 transaction fee. There is a limit of one Priority Checking account per Social Security number.
Priority Savings
The Priority Savings currently earns 3.00% APY on balances up to $30k, if the qualification requirements are met. Like the Priority Checking, qualifying balances over $30k earn 0.50% APY, with non-qualifying balances earning 0.05% APY. Interest earned in the Priority Checking account is automatically transferred to the Priority Savings account each statement cycle. The Priority Savings account can be opened with a $50 minimum deposit. While there is no monthly service fee, there is a $15 fee for each transfer beyond the six allowed per month. There is a limit of one Priority Savings account per Social Security number.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 3.00*% | $0 | $30k | Century Next Bank (LA) | Priority Savings | |
| OTHER TIERS: 0.50% → $30k+ | |||||
Annual Earnings of Combined Priority Checking/Priority Savings Accounts
The potential combined annual earnings of a Priority Checking account (7.00% APY/$30k) and a Priority Savings account (3.00% APY/$30k) is approximately $3,000 (5.00% APY/$60k). When compared to the vast majority of RCAs, this is a very competitive rate for an unusually large balance cap.
Availability and Account Opening
Headquartered in Ruston, Louisiana, Century Next Bank is a community-oriented bank with a brick-and-mortar presence in Lincoln and Ouachita Parishes, as well as Ashley County, Arkansas.
While Century Next Bank previously offered the Priority Checking and Priority Saver accounts to all residents of Louisiana through an online application, opening a Priority Checking and/or a Priority Saver account must now be done at any of four Louisiana branches located in Ruston (2), Monroe, and West Monroe, or three Arkansas branches located in Crossett (2) and Hamburg.
Bank Overview
Century Next Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.82% (excellent) based on September 30, 2023 data. In the past year, CNB has increased its non-brokered total deposits by $110.12 million, an excellent annual growth rate of 21.23%. Please refer to our financial overview of Century Next Bank (FDIC Certificate # 29700) for more details.
The original Ruston Building and Loan Association was established in 1905, and for the next hundred years played a vital role in Lincoln Parish’s home construction and mortgage venue. In 2005, the name was changed to Bank of Ruston, in accordance with FDIC organizational type and institution class changes. Both the City’s and Bank’s names were taken from the Lincoln Parish Sheriff, Robert Edwin Russ, who donated 640 acres to the town (Russ Town) in the late 1870s. In late 2018, Bank of Ruston acquired the First National Bank of Crossett (Arkansas) and the Century Next Bank rebrand happened shortly thereafter. Century Next Bank is currently the 23rd largest bank headquartered in Louisiana with assets in excess of $717 million and more than 15,000 customer accounts.
How the Priority Checking Compares
When compared to the few High Yield Reward Checking Accounts tracked by DepositAccounts.com that are available in the market area and have maximum qualifying balances of at least $30k, the Century Next Bank Priority Checking APY currently ranks first.
The above rates are accurate as of 2/29/2023.
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.
