Cornhusker Bank (NE) Offers Power Checking, 3.51% APY Up To $25k

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Deal Summary: Power Checking, 3.51% APY on qualifying balances up to $25k.

Availability: Power Checking available to all Nebraska residents.

Three years ago this month, Cornhusker Bank introduced its Rewards Checking Account – the Power Checking account – as a replacement for its Relationship Checking account. The initial 3.50% APY was in effect for six weeks before a single basis point was added. Since January 2017, the Power Checking account has earned 3.51% APY on qualifying balances up to $25k. Portions of qualifying balances over $25k earn 0.20% APY, with non-qualifying balances earning 0.01% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.51%-$25kCornhusker BankPower Checking
Rates as of January 17, 2020.

The qualifying requirements have remained the same:

  • At least 18 debit card purchases each statement cycle.
  • Enrollment in e-Statements.
  • At least one direct deposit (no minimum stated) per statement cycle.

The Power Checking account has no minimum balance requirement or monthly service fee, but does requires a minimum $100 opening deposit.

Availability

Headquartered in Lincoln, Nebraska, Cornhusker Bank’s primary market area is Lancaster County, home of the State Capital (Lincoln) and the second-most populous county in Nebraska. Since I last wrote about the Power Checking account, the availability has expanded to include all Nebraska residents, 18 years or older, who are U.S. citizens/resident aliens.

Opening a Power Checking account can be done online, or at any of nine full-service Nebraska branches, all located in Lincoln.

Cornhusker Bank is also part of the MoneyPass network, which provides surcharge-free access at more than 53,000 ATMs across the United States, including more than 2,000 located in Walmart stores.

Bank Overview

Cornhusker Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 1.01% (excellent) based on September 30, 2019 data. In the past year, Cornhusker Bank increased its total deposits by $29.16 million, an excellent growth rate of 5.96%. Please refer to our financial overview of Cornhusker Bank (FDIC Certificate # 14264) for more details.

The Bank was originally established in 1903, as one of the many Farmers State Banks located throughout the Midwest. (At one point, there were more than 90 “Farmers State Banks” in operation.) As the name suggests, the Bank’s customer base were the farmers of Lancaster County - the vast majority of the county’s residents. The Cornhusker name came into play in 1960, when the Bank’s headquarters were moved from Davey to Lincoln. Cornhusker Bank is currently Nebraska’s 21st largest bank, with assets in excess of $632 million and nearly 25,000 customer accounts.

How Power Checking Compares

When compared to 82 High Yield Reward Checking Accounts tracked by DepositAccounts.com, which are available in Nebraska and have a qualifying balance cap of at least $25k, Cornhusker’s Power Checking APY currently ranks second.

Interest RateAccount NameCredit Union/Bank
4.00% APYKasasa Cash Checking ($50k max)TAB Bank
3.51% APYPower Checking ($25k max)Cornhusker Bank
3.25% APYKasasa Cash ($30k max)Dover Federal Credit Union

The above rates are accurate as of 12/26/2019.

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: Lincoln checking accounts, reward checking accounts

Comments
27-Month CD Special (Blended APY) Offered By Cornhusker Bank (NE)
Availability: Market area is Lancaster County, Nebraska, and nearby areas.

Last week, I wrote about Cornhusker Bank’s new Power Checking account, which earns 3.50% APY on qualifying balances up to $25k, and I’m starting this week with Cornhusker Bank’s new 27-month CD Special (1.68% blended APY). The minimum deposit is $1k, with no stated balance cap.

The 27-month CD Special’s blended APY is broken as follows:

  • 1.25% - First 18 months
  • 2.50% - Last 9 months
  • 1.68% - Total term (27 months)

The CD Special is also offered as an IRA...

Continue Reading
Cornhusker Bank (NE) Starts New Month With New Rewards Checking
Availability: Market area is Lancaster County, Nebraska, and nearby areas.

As of this morning, Cornhusker Bank is offering a new Rewards Checking Account – the Power Checking account, which earn 3.50% APY on qualifying balances up to $25k. Qualifying balances of $25k+ earn 0.20% APY, with non-qualifying balances earning 0.01% APY.

Qualifications

  • At least 18 debit card purchases each statement cycle.
  • Enrollment in e-Statements.
  • At least one Direct Deposit (no minimum stated) per statement cycle.

The Power Checking account has no minimum balance requirement or monthly service fee, but does requires a minimum...

Continue Reading


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