SAC FCU (NE/IA) High Yield Checking Still Competitive


Availability: Residents of five eastern Nebraska counties (greater Omaha area) and 3 western Iowa counties.

Nebraska-based SAC Federal Credit Union’s (SAC FCU) High Yield Checking earns 3.01% APY on qualifying balances up to $10k. Qualifying balances over $10k and non-qualifying balances earn 0.05% APY.

2.24*%-$10kCobalt Credit UnionHigh Yield Checking
OTHER TIERS: 0.05% $10k+
Rates as of September 18, 2018.

When the High Yield Checking account was first introduced in August 2010, the APY was 4.01% on qualifying balances up to $25k. The 4.01% APY lasted for nine months and then dropped to 3.01% APY, which remained in effect for a little more than two years. In August 2013, both the rate and balance cap dropped: 2.01% APY up to $15k. The current rate and balance cap (3.01% APY up to $10k) went into effect on May 1, 2014.

High Yield Checking Qualifying Requirements

  • Have at least 12 debit card purchases totaling at least $120.
  • Have a recurring Direct Deposit (no minimum dollar amount).
  • Be enrolled and receive eStatements.

The High Yield Checking account has no minimum balance requirement or monthly service fees. It requires a minimum of $100 to open, and members are limited to one High Yield Checking account or one Saver’s Advantage Checking account (5.01% APY up to $1k). ATM fee reimbursement is limited to two “foreign” ATM per month, with foreign defined as non-SAC FCU ATMs. SAC FCU is a member of Co-Op Network that offers thousands of surcharge-free ATMs throughout the country.


Headquartered in Papillion, Nebraska, SAC Federal Credit’s field of membership is primarily residency-based, with individuals who live, work, worship, attend school, or regularly do business in the Nebraska counties of Cass, Douglas, Sarpy, Saunders, or Washington, or the Iowa counties of Harrison, Mills, or Pottawattamie eligible to join.

Employees and retirees of the SpartanNash grocery store chain are also eligible.

Immediate family members of the above mentioned individuals qualify for membership. In this instance, "immediate family members" is defined as spouse, child, sibling, parent, grandparent, grandchild, stepparents, stepchildren, stepsiblings, and adoptive relationships.

Joining SAC FCU and/or opening a High Yield Checking account can be done online, or in person at any of 22 Nebraska branches located in Bellevue (2), Blair, Grand Island, Gretna, Offutt AFB (3), Omaha (9), Papillion (3), and Plattsmouth, or the three Iowa branches, all situated in Council Bluffs.

Credit Union Overview

SAC Federal Credit Union (NCUA Charter # 5400) has an overall health grade of "B+" at, with a Texas ratio of 8.90% (excellent) based on March 31, 2016 data. In the past year, SAC FCU has increased its total deposits by $55.51 million, an excellent annual growth rate of 8.8%. Please refer to our financial overview of SAC Federal Credit Union for more details.

Founded in 1946, SAC Federal Credit Union was initially located at Andrews Field, Maryland, the headquarters of the Strategic Air Command (SAC). When SAC was moved to Offutt Air Force Base in Omaha, the Credit Union naturally followed. SAC FCU’s website has a very informative time-line that documents the growth of the Credit Union. SAC FCU is currently Nebraska’s largest locally-owned financial institution and largest credit union, with more than 97,500 members and assets excess of $847 million.

How the High Yield Checking Compares

When compared to the 49 High Yield Reward Checking Accounts tracked by, which are available to residents of the greater Omaha area and have maximum qualifying balances of at least $10k, SAC Federal Credit Union’s High Yield Checking APY currently ranks third.

The above rates are accurate as of 6/13/2016.

To look for the best nationwide Reward Checking Account rates and the best Reward Checking Account rates in your state, please refer to our High Yield Reward Checking Account rates table or our new Rates Map page.

High-Yield Reward Checking at SAC Federal Credit Union in NE & IA - Local Only

SAC Federal Credit Union is offering a high-yield reward checking account with the following rates and features if certain monthly requirements are met (as of 8/01/2010):

  • 4.01% APY for balances up to $25,000
  • 0.25% APY for balances over $25,000
  • 0.10% APY if requirements are not met
  • ATM fee refunds up to $10 per month

Monthly requirements include:

  • 12 debit card purchases
  • Receive e-statements

Other account features include:

  • $100 minimum opening deposit
  • No minimum balance
  • No monthly service charge

According to the credit union's Open New Account page:

Branches are located in the Nebraska cities of Omaha and Bellevue and in the Iowa city...

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