Competitive Reward Checking Account at Del-One Federal Credit Union


I don't usually come across competitive reward checking accounts that I haven't already reviewed, but I came across one at Del-One Federal Credit Union which is offering a reward checking account called Better Life Checking. The account has the following rates and features if certain monthly requirements are met (as of 5/9/2012):

  • 3.00% APY on balances up to $25,000
  • 0.35% APY on portion of balance over $25,000
  • Refunds of ATM fees up to $25 per month

Monthly requirements include:

  • 10 debit card purchases
  • direct deposit
  • e-statements

There is no monthly service fee and no minimum balance. Please refer to the Del-One's checking page for more details.

Credit Union Membership

Membership in the credit union is open to members of the Del-One Foundation. Any Delaware resident is eligible to join with a minimum $12 contribution. You can be immediately eligible to join the credit union if you live, work, worship or attend school in the Delaware cities of Wilmington, Newark, Milford, Georgetown and in the West Dover area. There's also a long list of Select Employer Groups. Please refer to the Del-One's how-to-join page for the full details.

Credit Union Overview

Del-One branches are located in Dover, Wilmington, New Castle, Georgetown, Milford and Smyrna.

The credit union has an overall health score of 4 stars (out of 5) with a Texas ratio of 20.69% (average) based on December 2011 data. Please refer to our financial overview of Del-One for more details. The credit union is federally insured by the NCUA (Charter # 13919).

How This Reward Checking Rate Compares

The highest rate for balances up to $25K on a reward checking account that's available nationwide is 2.52% APY at ABCO Federal Credit Union. There are nationally available reward checking accounts with a 3.00% APY, but their balance caps are under $25K.

There are reward checking accounts with higher rates in some parts of the country. To find the highest reward checking rates in your area, please refer to our reward checking rate table. This can also be used to find accounts available nationwide. If you're new to these tables, my rate table guide should be useful.

If you're new to reward checking, my blog post, 10 Common Traits of High-Yield Reward Checking, should be useful.

Anonymous   |     |   Comment #1
A rep said in order to join, you must be a resident of Delaware.
Anonymous   |     |   Comment #2
Agree with Commenter #1. Del-One rep told me I must either work or live in Delaware in addition to the other restrictions.
6.17% 9-Month CD at a Delaware CU
Delaware FCU is offering a 6.17% APY (6% APR) 9-month share or IRA certificate. The minimum deposit is $500. It requires a checking account with direct deposit. Direct deposit must begin within 60 days of CD origin date and must be maintainted throughout the term. APR will revert to 5% if direct deposit does not occur. Offer requires new funds only.

The field of membership includes those who live in the Delaware cities of Georgetown, Milford, Newark and Wilmington. There's also a long list of select employer groups.

Branches are located in...

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