Columbia Credit Union Income Checking Earns 2.50% APY


Deal Summary: Income Checking, 2.50% APY on qualifying balances up to $25k.

Availability: Residents of Washington State and four northwest Oregon counties.

There’s a new rewards checking account in Columbia Credit Union’s (Columbia CU) product line. The Income Checking account earns 2.50% APY on qualifying balances up to and including $25k. Qualifying balances of $25k+ and non-qualifying balances both earn 0.03% APY.

2.70*%-$25kColumbia Credit Union (WA)Income Checking
OTHER TIERS: 0.05% $25k+
Rates as of September 15, 2022.

The qualifying requirements include:

  • At least 15 purchases using Income Checking debit card and/or Columbia CU credit card.
  • Minimum $500 direct deposit into the Income Checking account.
  • Enroll in eStatements.

Unlike the vast majority of reward checking accounts, you can use a credit card instead of a debit card to satisfy the qualifying requirements of the Income Checking account. Columbia CU offers three Visa credit cards. One of the three is the Signature CashPlus card which earns 1.25% in unlimited rewards.

The Income Checking has no monthly service fee or minimum balance requirement, and can be opened with a minimum $1 deposit. Nationwide ATM fees will be reimbursed up to $25 per month if the three qualifying requirements are met.


Headquartered in Vancouver, Washington, Columbia Credit Union’s field of membership (FOM) includes individuals who live or work in Washington State, or in any of the northwest Oregon counties of Clackamas, Marian, Multnomah, or Washington.

Family members of membership-eligible individuals are also eligible to join.

Joining Columbia CU and/or opening an Income Checking account can be done online, or in person at any of twelve Washington branches located in Battle Ground, Ridgefield, Vancouver (9), and Washougal.

While opening a share savings account is not required to establish a Columbia CU membership, there is a $5 lifetime membership fee that will be charged when joining.

Columbia CU participates in the CO-OP ATM network, but not the Shared Branch network.

Credit Union Overview

Columbia Credit Union has an overall health grade of "A+" at, with a Texas Ratio of 2.13% (excellent) based on June 30, 2019 data. In the past year, Columbia CU has increased its total non-brokered deposits by $153.4 million, an excellent annual growth rate of 12.13%. Please refer to our financial overview of Columbia Credit Union (NCUA Charter # 68186) for more details.

Columbia Credit Union was founded in 1952 as the SP&S Federal Credit Union, serving SP&S Railway employees. (The Spokane, Portland and Seattle Railway was a joint venture by Great Northern Railway and Northern Pacific Railway, which constructed a rail line along the northern bank of the Columbia River.) For the first six years, the Credit Union operated out of the basement of its founder, Delbert Thompson. In 1975, the Credit Union re-branded as Columbia Credit Union when a new charter was adopted, allowing railroad employees and community members to join. Columbia Credit Union is currently the ninth largest credit union in Washington, with nearly 100,000 members and assets in excess of $1.6 billion.

How the Income Checking Account Compares

When compared to the High Yield Rewards Checking Accounts tracked by that are available in Washington and have maximum qualifying balances of at least $25k Columbia Credit Union’s Income Checking APY currently ranks sixth.

The above rates are accurate as of 11/23/2019.

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.

Related Pages: Portland checking accounts, reward checking accounts


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