Elements Financial Guarantees Helium Savings 3.25% APY For One Year

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Deal Summary: Helium Savings Promo, 3.25% APY, one-year rate guarantee, $2.5k minimum opening deposit/balance, new money.

Availability: Easy membership requirement

Three years ago, Elements Financial offered a promotional 2.10% APY on the Helium Savings that was guaranteed for a year. Elements Financial has revived the Helium Savings promotion (Promo Helium), with a very competitive 3.25% APY that is guaranteed for 12 months following account opening.

The minimum opening deposit is $2.5k of new money, which is defined as funds not on deposit at Elements Financial within 90 days of account opening. Current Helium Savings account holders are not eligible for this promotion, as are those who have closed a Helium Savings account in the previous 90 days. An average daily balance of $2.5k is required to earn the 3.25% APY; balances below $2.5k earn 0.10% APY. Following the one-year promotional period, the rate will "automatically convert to the then current non-promotional Helium Savings account APY which is variable and may change at any time without notice."

There is a limit of one Promo Helium account per member and at least one account holder must be 18 years or older. While there is no monthly maintenance/service fee, there is a monthly $5 Inactive Relationship fee “if no activity has occurred for at least 12 months.” The Promo Helium account has no debit card or check writing privileges. There is no excessive transaction fee for withdrawals and/or transfers beyond the six allowed per statement cycle, but according to CSR, a Promo Helium “could be subject to closure if you exceed the transfer limit in any statement cycle.

DA reader, Striker, posted in the Forum what I thought when I read about the Promo Helium.

The Helium Savings Account sounds like a great option for a 12 month, no penalty, add-on CD paying 3.25% - with no fees or any limits on transfers in and out. Maybe I'm missing something - but at first glance it looks like a great savings account opportunity to park funds in while waiting on higher CD rates to lock in to long term. If rates rise over the next couple months elsewhere and this one remains stagnant - just shift to the higher payer.

DA reader, Rickny, posted a cautionary comment in response to the Forum post about the Promo Helium.

Just be careful as they will probably drop that rate like a rock after 12 months if rates go down.

I had a savings account with them when they guaranteed 2.1% for 1 year. When the year was up they dropped the rate to .3%.

High Interest Checking Promo

Elements Financial is also offering a 4.00% APY promotional rate on its rewards checking account, High Interest Checking. Like the Promo Helium, the High Interest Checking 4.00% APY is guaranteed for 12 months following account opening. The 4.00% APY applies to qualifying balances up to $20k; qualifying balances over $20k earn 0.10% APY, with non-qualifying balances earning 0.05% APY.

There are only one qualifying requirement:

  • 15 qualifying transactions per statement cycle, including all debit card purchases, checks, bill payments, ATM withdrawals, and ACH withdrawals.

The High Interest Checking account has no minimum opening deposit requirement. The first 50 checks are provided for free and there is unlimited check writing. The $5 monthly maintenance fee will be waived if eStatements are received.

There is a limit of one Promo High Interest Checking account per member and at least one account holder must be 18 years or older. Current High Interest Checking account holders are not eligible for this promotion, as are those who have closed a Helium Savings account in the previous 180 days.

Availability

Headquartered in Indianapolis, Elements Financial offers a way for almost any U.S. citizen/resident alien to join through Tru Direction, Inc., a not-for-profit organization dedicated to improving financial literacy. Joining Tru Direction, Inc., with a one-time $5 membership fee, qualifies for membership in Elements Financial.

Employees, students, retirees or members of Eli Lilly & Company, Roche, and more than 150 other organizations are eligible for membership.

Immediate family members (spouse, child, sibling, parent, grandparent, grandchild, step- and adoptive relationships) and household members (shared residence and income) of membership-eligible individuals also qualify for membership.

Joining Elements Financial and opening a Helium Savings Promo account can be done online, by phone (800.621.2105), or at either of two Indiana branches located on W. Washington Street and S. East Street in Indianapolis.

Note: the Lilly Technology Center North branch is temporarily closed. Both the Lilly Corporate Center and the Lilly Technology Center South branches have restricted access and are not open to the public.

The Membership Application is also available as a download, and can be returned by mail or in person at any of the above mentioned branch locations.

During the application process, we will open you an Elements savings account (that’s the part that makes your membership official). We’ll even put $5 in to get you started — no need to transfer funds from an existing account!.

Elements Financial is a part of both the CO-OP Shared Branch and ATM networks.

We have a global footprint. We serve members in all 50 states and 50 countries. Through the credit union shared branch and ATM network, we provide access to 5,000+ shared branches nationwide and 78,000+ surcharge-free ATMs globally.

Credit Union Overview

Elements Financial has an overall health grade of "B+" at DepositAccounts.com, with a Texas Ratio of 1.46% (excellent) based on June 30, 2022 data. In the past year, Elements Financial has increased its total non-brokered deposits by $31.75 million, an above average annual growth rate of 1.84%. Please refer to our financial overview of Elements Financial (NCUA Charter # 22468) for more details.

Elements Financial was established in 1976 as the Eli Lilly Credit Union, for the benefit for the employees of Eli Lilly & Company. (Known today as Lilly, it was the first company to mass-produce penicillin, insulin, and the Salk polio vaccine.) It’s been more than seven years since the Elements Financial re-brand, which was done “to embrace the growth and diversification of our membership.” Elements Financial is currently the fourth largest credit union headquartered in Indiana, with more than 100,000 members and assets in excess of $2.2 billion.

How the Helium Savings Compares

When compared to nationally available Money Market Accounts and Savings Accounts tracked by DepositAccounts.com, that do not require large balances or direct deposit and do not have small balance caps, the Elements Financial Helium Savings APY currently ranks first.

APYAccount NameCredit Union/Bank
3.25%Helium Savings Promo ($2.5k min/no max)Elements Financial
3.05%Money Market Savings (no min/no max)Merchants Bank of Indiana
3.00%Dollar Savings Account (no min/no max)DollarSavingsDirect
2.75%Bask Interest Savings Account (no min/no max)Bask Bank
2.75%Money Market Account via SaveBetter ($1 min/no max)mph.bank

The above information and rates are accurate as of 9/27/2022.

To look for the best rates on liquid bank accounts, both nationwide and state specific, please refer to our Money Market Accounts Table and Savings Accounts Table.

Related Pages: Indianapolis savings accounts, savings accounts, reward checking accounts, nationwide deals

Comments
CuriousInvestor
  |     |   Comment #1
Thanks for the article, Ken. I just set up two accounts via the online application. They have a terrific online system. Smooth, easy, automated enrollment process. Immediate approval for those who qualify.
NYCDoug
  |     |   Comment #2
Helped a friend (who may have been flagged) . . . He got paused at the "Setup" step with the message:

"Thanks for submitting your application! We'll be in touch after completing our review (typically 1–2 business days). Your application ID#: xxxxxx"

Not "immediate approval" for him . . . Bad news?
Slime
  |     |   Comment #7
"Thanks for submitting your application! We'll be in touch after completing our review (typically 1–2 business days). Your application ID#: xxxxxx". I got this message too. Is it because I have a credit freeze on my credit report? Should I have unlocked it before applying?
flex342
  |     |   Comment #8
Not bad news. They will send email in a day for applicant to submit identification and maybe a utility bill. Happened to me. Really smooth and quick actually!
Slime
  |     |   Comment #9
Ok thanks. Good to know.
xray1010
  |     |   Comment #38
I got the same message. What is causing the delay?
NYCDoug
  |     |   Comment #52
This account opening process is starting to become increasingly annoying.

Was told two days ago via CSR email that a ChexSystems freeze needed to be lifted. After doing so, reapplied. And was then told today that Elements Financial could still not access ChexSystems, and was advised to verify . . .

Just sent a third application in to Elements tonight, after emaling customer service a screenshot which clearly shows that a temporary lift at ChexSystems began yesterday!

What's going on here? Three applications, two strikes.
Elements pitches once more . . . Home run, anyone?
Guid1
  |     |   Comment #3
Yep, thanks Ken.

Is it correct to assume that in one year when the average saving account is yielding above 4% that they are guaranteeing the Helium account will still be at 3.25%?
MidAtlantic
  |     |   Comment #4
This what it says on their website: Promo Helium Savings (Promo Helium) is a Helium Savings account with a promotional 3.25% fixed Annual Percentage Yield (APY) on balances of $2,500.00 and above for the first 12 months from the account opening date. The rate is accurate as of September 23, 2022.
P_D
  |     |   Comment #5
Not necessarily. I have had several accounts of this type (at other FIs) in the past and they upgraded the rates and even extended the guarantees. There is no guarantee they will do that but you can always take your money out. If they start losing funds they sometimes rejigger the terms.
deskandchairs
  |     |   Comment #17
P_D And, I have had the opposite experience with guaranteed rates for MMA or online Savings. Assume nothing
P_D
  |     |   Comment #22
It was either Northpointe or Northern or both that had rate guarantees in the last round of rate increases. One of them at least not only raised the rates but substantially extended the guarantee period during the course of the original term. When I contacted them they gave me both the new rate and the extension of the guarantee. But it doesn't make much difference whether they keep the original rate or not since you can take your money out at any time without penalty.
deplorable_1
  |     |   Comment #6
@Guid1: That would be my assumption but you could just open and ACH out when another bank beats their rate. I highly doubt they will be competitive in 6 months let alone 1 year.
jimdog
  |     |   Comment #10
Buy treasuries at a higher rate!
Treejay
  |     |   Comment #32
not liquid. those are short term bonds
Blade
  |     |   Comment #11
Anyone know which of the big 3 credit agencies they check when you apply? I'll need to unfreeze it before I apply. Sounds like a nice place to park cash while keeping an eye on CDs!
Blade
  |     |   Comment #15
UPDATE: Called Elements Financial and they confirmed its a soft pull and there would be no need for me to unlock my credit reports when submitting an app for the Helium account. No wait with the call center and the CSR was very polite. She didn't know the answer so she had her application dept. call me back directly with this info.
gpagpa01
  |     |   Comment #12
I have a previous Helium Savings account from the 2.1% promotion a couple years ago. I called in inquired about opening a new promotion helium account. I've got multiple DP's from reps and email that the funds just needs to be at least $2500 and new and at least 50% more than currently there, which is not hard since their rate was in the basement prior to this promo. So, for your own DP call and inquire, make the deposit and will have to contact them to adjust the rate to the promo. As for being competitive, time will tell, but for now, they are 50Bps higher than Bask. Just be prepared with reliable hubs to push and pull $$ since they have minimal maybe 10$k per xfer. If they don't increase the rate when others are passing them up, its a no brainer to move. If you already have on opened, just do it, if you don't have one then it may pay to wait and see what others are doing rate wise. I've been told that they are not enforcing Reg D and observing the Fed's temporary waiver. Going back to 2020, they had the 2.10% and this was when the fed was cutting like crazy due to covid. I was concerned they could balk and cut, but they stayed true to their promo, I think I even got an extra month at the promo. Also, personally confirmed not ACH pull limit if done outside of their site, just need a reliable hub.
milty
  |     |   Comment #13
If these were more normal times, i.e, prior to 2008, what would you expect a 5yr CD to yield if you're getting 3.05% to 3.25% in your savings account?
deplorable_1
  |     |   Comment #16
@Milty: Right around 5% on a 5 year or at least on a 6-7 year CD. CD rates are way too low due to the yield curve right now. Well that and so many years at 0% is throwing everything out of whack including the housing market.
111
  |     |   Comment #30
Milty, #13 - The assumption of your question was “If these were more normal times … prior to 2008 ...”. My response to that is, not only are these non-normal times, they are times not seen in 40 years regarding high inflation - and that makes a huge difference in all rate predictions. Clearly worldwide money markets are fearful that the Fed, if it's even able to defeat inflation via rate hikes, will then have to pivot immediately to implement rate cuts to battle recession. Kind of like Hitler's experiment with the “two-front war” - and we all know how that came out (!).

One impact of that is that many rates beyond 3-4 years out are inverted, or nearly so, compared with their shorter brethren - in any case much more so than in the last “rate peak” in 2018-early 2019. So yeah, this constrains any “5yr CD” yields, and any questions like the one you asked are going to be impacted by the Fed's massive attempt to beat inflation. In the near future, we may never see the same ratio of liquid rates, to 3-year CD rates, to 4-year rates, to 5-year rates, etc., as we did even in 2018-early 2019.
P_D
  |     |   Comment #31
It's not only that but the Democrats and the Fed are fighting each other with incompatible inflation factors. On one end the Fed it trying to drain the inflation pool by increasing rates and on the other end of the pool the Democrats are filling it up with inflationary spending and borrowing at a pace never before seen.

So other than guesses, some which will ultimately turn out right just because someone has to be lucky, I think this may be one of the most difficult rate cycles to forecast in US history. The economy is a hot mess.
deplorable_1
  |     |   Comment #33
I can't disagree with you there PD it's tough to predict exactly what will be the final nail in this economic coffin that brings everything crashing back down or exactly what rates will be at the peak. Although I will say probably higher than most would expect many didn't think we would see 4% CD's just a short time ago.
milty
  |     |   Comment #34
FWIW: Of the 10 official recessions declared since 1955, 9 started and 7 ended during Republican administrations; 1 started and 3 ended during Democrat administrations.

It seems difficult to find historical CD data with respect to 5yr CDs, especially prior to 1984, although I did find 6-month CD data going back to 1964 (but this site no longer appears available). The 5yr CD numbers are based on averages for a particular month during the year (I used the max value), whereas the 6-m CD was given just as the average for the year. So, some apples and oranges. For example, the max average/month rate for 5yr CDs in 2018 was 1.43% and 1.5% for 2019, and we know that many FIs had higher rates.
https://www.bankrate.com/banking/cds/historical-cd-interest-rates/
P_D
  |     |   Comment #35
"For example, the max average/month rate for 5yr CDs in 2018 was 1.43% and 1.5% for 2019..."

Not sure what your point is here, but if you are saying that even with those CD rates that were in effect when Trump was president-- that were much lower than they are now -- you were getting a far better real after inflation return on your deposits than the giant negative return you are getting now, I agree.
milty
  |     |   Comment #39
My point was that the averages that bankrate was showing did not necessarily reflect the rates that many were able to get during the 2018/2019 timeframe, especially if they were paying attention to DepositAccounts. That's all.
deplorable_1
  |     |   Comment #43
@Milty: I didn't know you were referring to "average" CD rates. Personally it never matters to me what the average rates are when I purchase a CD. I go for the highest possible rate every time for 2 reasons.
1. It's FDIC insured so as long as I stay under those limits I'm not too worried about bank strength.
2. It needs to be a better than average rate to lock up liquid cash long term due to lost opportunity cost.
There have been times I missed out on a really good bank bonus because I had little liquid cash available. Also like now liquid rates are nearing or even beating some of my old CD rates.
milty
  |     |   Comment #47
d_1: In #13, I wasn't referring to the average but what the community here would expect to get for a 5yr CD given the current Fed funding rate. However, historically this information seems hard to find, that is, what was the max rate in 1980 for example. Best I can find are some averages, but as you and I both noted, one can usually do better than the average if you monitor this site and have the liquid cash at the right time.
Kerry2
  |     |   Comment #50
Logical thinking, however FDIC is worthless if someone committed fraud and ran the bank into the ground or the bank decided to bail-in the deposits as their own money and if most of the FIs are out of business and the FDIC can only pay 1-2% of the bank 's national deposits, according to FDIC reserves, posted on their web site at a present time.
deplorable_1
  |     |   Comment #53
@Kerry2: Yeah I hear you there which is why I have money spread out all over in various accounts. FDIC/NCUA/stocks/non FDIC accounts in various amounts so not too much at any one FI just in case. Not really sure what else to do Gold/silver don't even pay dividends and Crypto is a fools game.
JimDavis
  |     |   Comment #14
Question, for those of you with accounts already at elements, are you signing up for this using the form where you have to supply  ID as if you were a new member ?

I dont see a way to bypass this with an existing member account opening process. Most banks and CU's have this .

I guess its not a big deal, just wondering.
fdic
  |     |   Comment #18
Does anyone know if they pull chex systems?
GregoryG
  |     |   Comment #23
Yes. https://www.doctorofcredit.com/elements-financial-3-25-apy-savings-rate-guaranteed-for-one-year/
fdic
  |     |   Comment #19
Does anyone know what does this mean?

"Minimum Balance to Earn Dividends" I guess some CU's offer dividends?
111
  |     |   Comment #20
In this case, just replace "dividends" with "interest".
Mikey1
  |     |   Comment #21
Last time my promo rate didn’t expire in *exactly* one year, it dropped at the beginning of the following month. So, consider applying 10/1 or later, you’ll probably get the 3.25% up until 11/1/23.
mffarrell
  |     |   Comment #24
I am not biting. I am sticking with short-term treasuries and brokered CDs.
I am not chasing rates with small unknown FIs this cycle like I did in the past, UNLESS it’s a nice juicy deal that brokerages don’t offer.

I saw that E*Trade had a 7 year callable 5.5% CD for a short time today.
spentcattle
  |     |   Comment #25
Interesting do you know when it was callable? I ask cause I nibbled on a 4.75 five year one the other day callable in a year. So if I get 4.75 for a year and poof its gone who cares
spentcattle
  |     |   Comment #26
mffarrell how do you reconcile the cash flow difference in cd's and treasuries since the coupon rates are so much lower? I'm doing some ladders thats why I ask. Thanks
mffarrell
  |     |   Comment #29
Mathematically I know how to figure the cash flows. TBH, the amount that I am investing compared to the interest rate difference is a rounding error imho.

Example, today I purchased a 1 month CD @ 3.05%. A one month treasury closed at 2.73% today.
I guess if you are talking about large amounts of money that might make a difference. Maybe I will make an excel spreadsheet for comparison.
Tommyboy
  |     |   Comment #27
I was able to open a helium savings account online in about eight minutes on a mobile device. It took another five minutes to setup online access. I used the routing and account # instead of Plaid to setup initial funding which should take about 3 business days. This was the fastest and easiest bank account opening I have ever experienced.
jofr4646
  |     |   Comment #36
Why do they all stay away from 5yrs. 4%+?, what do they know that we do not?
spentcattle
  |     |   Comment #37
With plenty of a few year 4.4 brokered cd's around cant help but to bite on em big.
If we get a severe recession rates could collapse....
PabloSavin
  |     |   Comment #41
You may that figured out. They may drop quick, we could have a drop in 2.5 years and it go back up in 5 years. Anything over 4 percent is ok with me
beecia
  |     |   Comment #40
Can you make ACH transfers to and from this account and an external bank? What are the limits on transfers? And does the C- capitalization bother anyone? Thanks.
P_D
  |     |   Comment #42
According to their representative you can make ACH transfers to and from Elements in any dollar amount if they are initiated from the other financial institution. You can also internally initiate ACH transfers, but I understand the dollar limit is relatively low.

As to the capitalization rating. I think the financial health of the institution is more important to people who have certain kinds of accounts. If you have an individual or joint account, in the event of insolvency, you will probably get your money back pretty quickly as long as you were within the insurance limits. If you have a private trust however, it may take considerably longer for you to receive those funds especially if your account exceeds $250,000

So while it's never good to have a financial institution go out of business if you have an account there, and I do think there are serious problems with NCUA and FDIC insurance so that it is difficult to know in some circumstances if you are covered, the relative importance of the financials of that institution depends to some degree on the depositors circumstances.

In addition I think the letter grade rating of various factors is a poor way to quantify the risk. You will find that these letter grades vary widely from site to site for the same institutions meaning that there is a subjectivity involved or a different methodology being used which in my view renders them all useless to the average reader who cannot decipher the financials for themselves or determine which sites offer a better analysis.
beecia
  |     |   Comment #51
Thanks for such a helpful response, P_D!
DAtroll
  |     |   Comment #44
Using "esignatures" to open or use an account is something that I refuse to do for security reasons at any financial institution. Usually, faster isn't safer. Especially from a legal standpoint.

If you read their "Consent to Use Electronic Signatures" disclosure, it's bit much. Especially, the inclusion of a third party called Blend Labs, Inc. Any financial account disclosures that includes third parties ain't for me.

Here's a snippet.

"Please note these additional definitions: We, our, and us means your financial institution and its current and future affiliates, successors, and assignees as well as Blend Labs, Inc. (“Blend”) and its current and future affiliates; Blend is the provider of this Platform. You and your means the person providing this eConsent, including any authorized signer, user, representative, delegate, and/or service user."
P_D
  |     |   Comment #45
"Using "esignatures" to open or use an account is something that I refuse to do for security reasons at any financial institution. Usually, faster isn't safer. Especially from a legal standpoint.

If you read their "Consent to Use Electronic Signatures" disclosure, it's bit much. Especially, the inclusion of a third party called Blend Labs, Inc. Any financial account disclosures that includes third parties ain't for me."

You would be hard pressed to find a financial institution that does not use third parties to process your data or share your data with third parties. If you limit your banking to such institutions, you will have few if any options.

The particular one mentioned, Blend Labs, is used by a number of major financial institutions to process various kind of applications and information.
DAtroll
  |     |   Comment #46
That's not my point and you know it. I don't care what third parties they use behind the scenes. That's their legal problem. Including third parties in a financial disclosure statement is a potential legal problem for me.

Particularly chilling is the following section:

"We, our, and us means your financial institution and its current and future affiliates, successors, and assignees as well as Blend Labs, Inc. (“Blend”) and its current and future affiliates."

Nope "we" to "me" means Elements Financial and "me" in the form of an actual signature on an application form submitted by either regular mail - or, a scanned and uploaded version via secure email.   This limits your legal liability considerably.

Nearly all financial institutions support this "old fashioned" way of doing things. By "old fashioned", I mean covered by current law. They're using these third-parties so that they can use them later for loan applications. There's absolutely no reason for them just to open a savings account.

Aren't you the guy who gets upset with CU's that use hard pulls to vet your identity? And, you don't have a problem with this? One of the major esignature firms recently has had problems with criminals phishing loan applications using an identical process to theirs.

I suppose that I could just open the account and then rescind the esignature process before funding the account. However, if I don't like the way that someone does business, I tend to just avoid them like the plague.

I was an IT consultant for over 30 years and had to continually warn customers of the legal implications of some of their web projects. Even though I had errors and omissions insurance, I'd just pass on being involved in dubious web schemes.

Nowadays, it's the wild west with all of these third parties out there. It's an alphabet soup of companies with disclaimers up the wazoo. If something goes south with one of my accounts, I don't want to have to deal with the fingerpointing that will be going-on, let alone knowing if I'm legally protected.

Oh, but then if I sign this esignature consent form, I've given-up most of my legal protections. Which, of course, is the whole point of the form!
111
  |     |   Comment #48
My personal line-in-the-sand is that I refuse to do business with any “esignature” vendor that has gone out of business under one name, and magically resurfaces under a very different name. Sounds a little sleazy to me!
Choice
  |     |   Comment #49
The best “one” is you are deemed to have received any of “our” correspondence when sent. The entity selecting the delivery method has the normal risk of delivery/receipt
fdic
  |     |   Comment #54
Does anyone know if there is a way to increase insurance coverage at a CU the way you can do at a bank by adding beneficiaries etc?
NYCDoug
  |     |   Comment #55
Add more than one POD.
Each POD, beyond the first, increases coverage by an additional $250k, e.g.,
two POD beneficiaries = coverage to $500k; three = coverage to $750k.

Also, adding different "types" of accounts (e.g., joint ownership) is another strategy.

But trusts, retirement accounts, etc., seem to be handled differently.
More info — lots! — can be found here:
https://www.mycreditunion.gov/share-insurance-estimator-faq
fdic
  |     |   Comment #56
Thanks NYCDoug. So looks like it is similar to FDIC insurance and thanks for the link.
P_D
  |     |   Comment #57
NCUA coverage on private trust accounts depends on the trust document itself and the number of beneficiaries. Unfortunately, you cannot be absolutely certain how much coverage you will have until it is too late to take your money out after a CU failure.

Also, unlike banks, CUs typically want all kinds of additional sensitive private information including information about beneficiaries that the trustee(s) may not want to reveal. And if there are many beneficiaries, it compounds the issue.

Also, the NCUA rules regarding coverage for trusts can be quite complex although the same is true for FDIC rules with banks.  This is especially important for trust accounts with large balances.

I don't use CUs for the trusts I manage because of the privacy issue.
twinlabs
  |     |   Comment #58
My experience with Elements has been stress free. Don't know if I got lucky or not. Been seeing that Chex Systems is pulled. I asked them where they pulled from, as I have a freeze on my reports so that I could temp unfreeze. Apparently they were able to get around it somehow because my appl went through no problems. Worth it for the checking account and savings account.
NYCDoug
  |     |   Comment #59
Lucky you! Got a THIRD rejection letter from Elements, referencing ChexSystems, despite the temporary freeze having been lifted for the last two . .

Something is evidently FUBAR here. Getting a very bad feeling about this FI :-(

Did you call Elements, and speak with someone in person?
GregoryG
  |     |   Comment #62
Your getting a bad feeling about them? That's a hoot. I decided to attempt to open an account to see what would happen. All credit frozen except ChexSystem. Was able to successfully open both a checking and savings with no issues in less than 10 minutes. Maybe its you, not them? Maybe they don't like something in your ChexSystems report.
NYCDoug
  |     |   Comment #63
Elements' emailed form letter said (3 times, in 3 letters) that it was unable to access the ChexSystems report, and to contact ChexSystems, lift the freeze, and re-apply.

After the first email, I lifted the ChexSystems freeze, and reapplied. But then got the same letter from ChexSystems. After which I verified that, indeed, the freeze was still lifted. Applied a third time. And yet again got the same letter — that an account could not be opened, due to a freeze on ChexSystems' end.

10 minutes? No, more like several hours, over several days. And, per their email. Elements has yet to even see the ChexSystems report. Go figure!
Choice
  |     |   Comment #64
Twin…the request that went through was structured as an account maintenance inquiry…look at your report! Otherwise it would have been rejected…they wanted you and were gaming the system!
outtempster
  |     |   Comment #60
Anyone know how it long take for an ACH initiated from external bank to show up in Element Financial? I set up a link on 9/26 from external bank, expecting 2 small trial deposits show up in Element Financial so that i can initiate ACH from the external bank (init from Element Financial has $1K limit per day for new customers). However, it has been a week and I have not seen the trial deposits in my Element Financial Account yet.
BigAl
  |     |   Comment #61
If your deposit is being "pushed" from an external bank, then how long it takes to show up is dependent on your external bank, not Elements.

My personal experience is that "trial deposits" usually only take 1 or 2 business days to hit the target account. If I were you I would contact the external bank and see what the holdup is.
Elements Financial Offers 2.10% APY On Helium Savings For 1 Year
Deal Summary: Helium Savings Promo, 2.10% APY, one-year rate guarantee, $2.5k minimum balance, new money, new account holders.

Availability: Easy membership requirement

Five years ago, Elements Financial launched its Helium Savings account, with an initial 1.00% APY (a competitive rate at the time). The 1.00% APY lasted about six months before the rate began to slip, finally settling at 0.55% APY. While many nationally available savings account rates climbed significantly in the past two years, the Helium Savings rate never increased beyond its current...

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Elements Financial Ups High Interest Checking To 3.00% APY
Deal Summary: High Interest Checking, 3.00% APY on qualifying balances up to $20k

Availability: Easy membership requirement

Indiana-based Elements Financial began July by raising the rate on its High Interest Checking account: qualifying balances up to $20k now earn 3.00% APY. Qualifying balances over $20k continue to earn 0.10% APY, with non-qualifying balances earning 0.05% APY.

In 2012, the High Interest Checking earned 4.00% APY, but only on qualifying balances up to $1k. While the rate was lowered to 2.00% APY in 2016, the qualifying...

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Elements Financial Ups Rates on 34- and 54-month Rate Climber CDs
Deal Summary: Rate Climber Certificates – 34-month (1.75% APY) and 54-month (2.25% APY), $1k min/$250k max per certificate, $1m max per household.

Availability: Easy Membership Requirement

It’s been more than a year since Elements Financial had any rates or products that warranted a blog post. That changed at the beginning of July, when Elements Financial raised the rates on its 34-month (1.75% APY) and 54-month (2.25% APY) Rate Climber Certificates by a uniform 25 bps. The minimum opening deposit is $1k ($500 for those under 18),...

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Elements Financial Offers "Grass Is Greener" 22-Month Certificate

UPDATE 6/23/16: No longer available.

Availability: Easy Membership Requirements

Spring is here and Elements Financial (formerly Eli Lilly Credit Union) is celebrating the season with a Grass is Greener Certificate, a 22-month Certificate earning 1.50% APY.

The minimum opening deposit is $1k, with a balance cap of $250k per certificate. There is also a $1 million maximum deposit per household. The fine print on the promotion page states this is a limited time offer, although no specific expiration date is mentioned.

The 22-month Grass is Greener Certificate is...

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Elements Financial To Improve High Interest Checking Account
Availability: Easy membership

In the past four years, I’ve written six different blog posts about the Indiana-based Elements Financial, highlighting its Helium Savings account, HSA, and a variety of CDs, but I’ve never had occasion to write about the High Interest Checking Account.

While Elements Financial’s High Interest Checking Account has earned 4.00% APY since June 2012, the $1K qualifying balance dampened any enthusiasm I had for the account.

That all changed yesterday when Elements Financial announced new terms and conditions for the High Interest Checking Accounts, effective March 1,...

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