Dort Financial Credit Union's (MI) Boost Checking Available Statewide
Dort Financial Credit Union’s (Dort Financial) Boost Checking account has been earning 5.00% APY on qualifying balances up to $10k for nearly two years. Qualifying balances greater than $10k and non-qualifying balances do not earn any interest.
I last wrote about the Boost Checking account in March 2019, when the APY was increased by 200 bps. Since then, I haven’t given much thought to this reward checking account, mainly because of the low balance cap. A new DA reader from Michigan contacted me, asking how she could get a good return on $10k and still have access to her funds, if necessary. Her inquiry started me thinking and I remembered two things: the Boost Checking and that there are opportunities for good rates for saver “newbies” without a large amount to invest.
The Boost Checking’s very competitive APY comes with what some might consider to be rather burdensome monthly qualifying requirements.
- At least $900 in direct deposit(s).
- At least 25 debit card transactions.
- Receive e-Statements
The Boost Checking account has no monthly service fee, no per check fee, no minimum balance requirement, and no minimum opening deposit requirement. There is a limit of one account per membership number and is only available as a personal account. While there is no reimbursement for ATMs fees, Dort Financial participates in the CO-OP ATM network.
Although we have 10 different locations to serve you, we realize sometimes you need access when you aren’t near a Dort Financial Credit Union. That’s why we give you free access to a network of over 30,000 ATMs all over the nation. Never be away from your cash when you need it.
Availability
Headquartered in Grand Blanc, Michigan, Dort Financial Credit Union expanded its field of membership (FOM) in January, with membership now extended to anyone who lives, works, worships, or attends school anywhere in Michigan.
Immediate family members (spouse, child, parent, sibling, grandparent, grandchild, including step- and adoptive) of current Dort Financial members or membership-eligible individuals also qualify for membership.
Joining Dort Financial and/or opening a Boost Checking account can be done online or at any of ten mid-Michigan branches located in Clio, Davison, Fenton, Flint (3), Grand Blanc, Lapeer, Owosso, and Swartz Creek. As stated on the Important Coronavirus Updates page,
Effective August 4th all branches will resume normal lobby and drive up hours. We’ll continue to require social distancing from our members and staff, as well as observe all other current Michigan health and safety guidelines.
Appointments can also be scheduled using Dort Financial’s Appointment Widget.
It’s easy to join – by making a $5 minimum deposit to your Primary Savings Account.
Credit Union Overview
Dort Financial Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 5.04% (excellent) based on June 30, 2020 data. Dort Financial has a capitalization level of 14.79% (excellent), the result of holding $1.19 billion in assets with $175.75 million in equity. Please refer to our financial overview of Dort Financial 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. Prior to last year’s change to a statewide charter, eligibility had been limited to four mid-Michigan counties for 18 years. Dort Financial is currently 14th largest credit union in Michigan, with more than 93,000 members and assets in excess of $1.19 billion.
How Boost Checking Compares
When compared to the High Yield Rewards Checking Accounts tracked by DepositAccounts.com that are available to all Michigan residents and have maximum qualifying balances of at least $10k, Dort Financial Credit Union’s Boost Checking APY currently ranks first.
The above rates are accurate as of 10/16/2020.
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.
