Dort Federal Credit Union Offers Boost Checking, 5% APY


Deal Summary: Boost Checking, 5.00% APY on qualifying balances up to $10k

Availability: Residents of Michigan counties of Genesee, Lapeer, or Shiawassee, or Deerfield and Tyrone Townships in Lapeer County.

As I was researching Dort Federal Credit Union’s (Dort FCU) 25-month Certificate Special earlier this week, I noted that their Boost Checking account currently earns 5.00% APY on qualifying balances up to $10k. Qualifying balances greater than $10k and non-qualifying balances do not earn any interest.

5.00%-$10kDort Federal Credit UnionBoost Checking
Rates as of September 17, 2019.

The Boost Checking account was added to Dort FCU’s product line in September 2017, with an initial 3.0% APY. Its first rate increase occurred just last month, when 200 bps were added.

Monthly Qualifying Requirements

As you might imagine, the Boost Checking’s high APY comes with what some might consider to be burdensome qualifying requirements, even for a Reward Checking Account.

  • At least $900 in direct deposit(s).
  • Have at least 25 debit card transactions.
  • Receive e-Statements

The Boost Checking account is only available as a personal account, with a limit of one account per membership number. There is no monthly service fee, no per check fee, no minimum balance requirement, and no minimum opening deposit requirement.


Headquartered in Grand Blanc, Michigan, Dort Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, attend school, or volunteer in the Michigan counties of Genesee, Lapeer, or Shiawassee, or in Livingston County’s Deerfield and Tyrone Townships, eligible for membership.

Immediate family members (spouse, child, parent, sibling, grandparent, grandchild, including step- and adoptive) of current Dort FCU members or membership-eligible individuals also qualify for membership.

Joining Dort FCU and/or opening a Boost Checking account can be done online or at any of 11 Michigan branches located in Clio, Davison, Fenton, Flint (3), Grand Blanc (2), Lapeer, Owosso, and Swartz Creek.

There is also a Contact Me About Boost form to start the application process.

Credit Union Overview

Dort Federal Credit Union has an overall health grade of "A" at, with a Texas Ratio of 7.21% (excellent) based on December 31, 2018 data. In the past year, Dort FCU has increased its total non-brokered deposits by $44.64 million, an excellent annual growth rate of 7.04%. Please refer to our financial overview of Dort Federal Credit Union (NCUA Charter # 7569) for more details.

Established in 1951 as the Dort Industrial Employees Credit Union, the original FOM included the employees of AC Spark Plug, located on Dort Highway in Flint, Michigan. The Credit Union’s name was changed to Dort Federal Credit Union in 1984 when the FOM was expanded to include other area businesses. A community charter was adopted in 2002, opening membership to residents of four mid-Michigan counties. Dort FCU is currently 17th largest credit union in Michigan, with more than 90,400 members and assets in excess of $870 million.

While the Dort name is probably not familiar to most DA readers, it’s well known in Michigan. Josiah Dallas Dort, along with Billy Durant, built their carriage maker company,

into the world’s largest. It formed the financial and structural basis for the development of Buick when Durant took that over and brought it to Flint. Dort was a major player in Buick’s growth, and as a result the development of General Motors.

Dort focused heavily on improving the life of those who toiled for the firm, and the city that it was housed in. He became known as “The First Citizen of Flint’ for good reason. Land he owned became the college and cultural center, and the entire East Side of the city. He worked with the architect of New York’s Central Park to develop the Flint Parks system, which became world class. He promoted the arts in general and music in particular, and founded the Community Music Association, which later became the Flint Institute of Music.

How the Boost Checking Compares

When compared to 61 Reward Checking Accounts tracked by, which are available within the market area and have maximum qualifying balances of at least $10k, Dort Federal Credit Union’s Boost Checking APY currently ranks second

The above rates are accurate as of 3/16/2019.

Looking into Rewards Checking Accounts? Please refer to DA’s High Yield Reward Checking Account Rates Table page for both nationwide and state-specific accounts.

Related Pages: Detroit checking accounts, Flint checking accounts, reward checking accounts

David Goodnuff
David Goodnuff   |     |   Comment #1
Rates up, not down.

Thanks to the leadersthip who kept the faith!
deplorable 1
deplorable 1   |     |   Comment #3
I would love to see some savings/MMA accounts that pay 5% APY without the debit card hoops. Even if they were capped at only $5,000-$10,000 and required a direct deposit. The debit card hoops are just a time consuming deal breaker for me and many others I'm sure.
RRR   |     |   Comment #5
Gave you a thumbs up, would be nice.

But I think it's unlikely that a bank would offer a significantly above market rate without having some compensating requirement. The bank makes money when you use your debit card, and they make money when you have a direct deposit. So that offsets their interest expense in excess of market rates. They cap it at relatively low balances such as 5 or $10,000, because the value of acquiring a new debit card user or direct depositor isn't high enough to pay for the market excess interest on balance is over that amount.

in short, the value for them is acquiring a new debit card user and/or direct depositor. So the extra interest they have to pay you is essentially a marketing expense. The marketing expenses capped by capping the applicable balance.
Nothing   |     |   Comment #6
If they have a robust lending department and the members are needs the capital and thus CD rates rise. Those offering lower CD rates have a poor lending department! Why do you think NFCU, PenFed (use to be), etc. offer higher CD rates? Their members are generally younger/growing families. Another example is Mountain CU and their membership datatbase...young growing families. No mystery to most!
CDsForMe   |     |   Comment #7
I get that banks make money off your using their cards but how do they make money off direct deposit?
RRR   |     |   Comment #8
There are several advantages to banks when customers sign up for direct deposits. One is a reliable, predictable steady flow of new deposits on a periodic basis. Of course the bread-and-butter of banking profits come from attracting deposits at a certain rate, and then lending those funds to other customers at a higher rate. They make their profit on the spread between the two rates. The more reliable and steady the deposit stream, the more control they have over the process and the more potentially profitable it is.

Also direct deposits are about customer retention. A certain percentage of people who sign up for direct deposits will hesitate to change banks because they don't want to go to the process of changing the direct deposit to another institution. A customer with a direct deposit is more likely to remain a customer for a longer-term which also means potentially more profitability.

So on average, a customer who has a direct deposit set up is a more valuable customer then one who does not.

There are other aspects of value for direct deposits for a bank, but these are two of the primary ones.
AnnO   |     |   Comment #10
Some of us don't have a regular DD source either, making that even more of a dealbreaker for us than debit card hoops (can't do at all vs don't want to do) except when it is known to be reliably 'fakeable' at that institution using my own ACHes between accounts.
deplorable 1
deplorable 1   |     |   Comment #14
I wasn't saying that they had to have a DD requirement just that a higher rate on a capped balance would be a great thing. I would have no problem managing multiple 5% accounts to earn a better rate(I'm already doing that now). Then you could skip the long term CD rate hunting and get 5% on liquid cash.
Anon   |     |   Comment #11
If I could only make 2,000 monthly debit transactions and keep track of all the accounts?
Daniel2000   |     |   Comment #12
Religious membership needs a letter from parish on letterhead...
5% For How Long
5% For How Long   |     |   Comment #15
Such trash, what am i going to do bother my parish to spit out a letter. I considered it until i googled and found they require all those debit transactions. I was just looking to see how many months they pay the 5%. I could put the extra money on my house and save 17% right now. So if they only offer it for say 1 year, i would only earn $500 in interest on my $10,000 verses the $1700 savings in avoided mortgage interest right now without having strings attached or bothering my priest.
Dort Federal Credit Union Has 25-Month CD Special, 4.00% APY
Deal Summary: 25-month Certificate Special, 4.00% APY, $50k minimum deposit.

Availability: Residents of Michigan counties of Genesee, Lapeer, or Shiawassee, or Deerfield and Tyrone Townships in Livingston County.

For a limited time, Dort Federal Credit Union (Dort FCU) is promoting a 25-month Certificate Special, which earns 4.00% APY. The minimum opening deposit is $50k, with no stated balance cap. While Dort FCU offers an additional 15 bps on its Jumbo Certificates (minimum $100k), the 25-month Certificate Special is excluded from that rate increase.

The 25-month Certificate...

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5.00% 9-Month CD at a Michigan CU - $20K Max (Dort Federal Credit Union)
Dort Federal Credit Union is offering a new-branch special 9-month CD with a 5.00% APY. The minimum deposit is $500, and the maximum deposit is $20,000 per member. This isn't listed at the credit union's website. A reader mentioned this to me, and I called for additional details. The CSR said that this may require a coupon that has been included in a local newspaper. If you go to one of the new branches, they may have the coupon there.

Membership is open to anyone who lives, works, attends school, worships,...

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