1.75% Reward Checking at an Arizona CU (First Credit Union)

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Update 4/04/09: The top yield has fallen to 1.75% APY. Refer to the bottom of the post for the rate history.

First Credit Union is offering a reward checking account that pays 1.75% APY on balances up to $25,000 (1.01% for over) and refunds ATM fees (up to $25/cycle) if the following monthly requirements are met: 1) 12 debit card purchases, 2) one electronic deposit or withdrawal, 3) login to eTeller online access, and 4) enroll in eStatements. If these are not met, the rate falls to 0.05%. There are no monthly service charges or minimum balance requirements.

Membership is open anyone who lives, works or worships within 10 miles of a First Credit Union branch. Please refer to the credit union's membership page for more details. Membership requires a minimum deposit of $5 into your regular share savings account.

Branches are located in Phoenix, Flagstaff, Tucson, Glendale, Chandler, East Mesa, Ocotillo, Scottsdale and Tempe, AZ. The credit union is federally insured by the NCUA (Charter # 68444). It has $463.7 million in assets and 56,968 members.

Thanks to the reader who mentioned this reward checking in the Finding-the-best-rates post.

Other High Yield Reward Checking Accounts

Please see my reward checking overview for general information and a history of these reward checking accounts. For other reward checking accounts please see my list of reward checking accounts around the nation and the best checking account post.

Rate History:
07/27/09: 1.75% APY up to $25K; base rate 0.05%
03/31/09: 1.75% APY
01/21/09: 2.75% APY
12/19/08: 3.15% APY
05/04/08: 4.01% APY
03/05/08: 5.01% APY
02/03/08: 6.01% APY up to $25K; 1.01% over; base rate 0.10%
Comments
Brian
Brian (anonymous)   |     |   Comment #1
As of 3/1/08 rate is down to 5.01%
Anonymous
Anonymous   |     |   Comment #2
Now the rate is down to 4.01%. Not great compared to some of the competition out there. It seems like this bank just came in with a high rate to get customers. I'll bet they start losing customers soon.
Anonymous
Anonymous   |     |   Comment #3
The top yield has fallen to 2.75% APY. Others remain same.
Anonymous
Anonymous   |     |   Comment #4
The top yield has fallen to 1.75% APY. Other rates remain same.
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