It’s been more than nine years since I first wrote about Greater Nevada Credit Union’s (GNCU) reward checking account (RCA). At the time, it was known as the Greater Checking account and earned 3.00% APY up to $25k. There have been a variety of changes since 2009, including an account name change (Aspire Checking), APY decreases/increases, a lowered balance cap, and an expansion of GNCU’s field of membership.
When I last wrote about Aspire Checking in April 2017, the account earned 3.00% APY on qualifying balances up to $15k. Earlier in January, the APY increased to 4.00% and the qualifying balance cap jumped to $50k. Qualifying balances of $50k+ earn 0.05% APY, as do all non-qualifying balances.
The rate increase and the balance cap expansion are impressive on their own – together, they make for a very good RCA deal.
|4.00*%||-||$50k||Greater Nevada Credit Union||Aspire Checking|
|OTHER TIERS: 0.05% → $50k+|
- Have at least nine (lowered from 15) debit card purchases.
- Have at least one Direct Deposit.
- Receive eStatements.
The Aspire Checking account has no minimum balance requirement or minimum opening deposit. The one potential drawback is the $15 monthly service change, which will be imposed if the qualifying requirements aren’t met. (FYI - it’s unusual for an RCA to have a monthly fee.) ATM fees will be reimbursed up to $15 per month when the qualification requirements are met. GNCU also participates in the CO-OP Shared Branch Network, giving members access to more than 30,000 fee-free ATMs nationwide.
Headquartered in Carson City, Greater Nevada Credit Union’s field of membership (FOM) is residency based, with all individuals who live or work in Nevada eligible to join. In addition, anyone related to a current GNCU member by blood, marriage or adoption, AND lives in the same household, also qualifies for membership.
Since I last wrote about GNCU in 2017, a merger with Frontier Financial Credit Union was finalized, making GNCU the largest locally-owned financial institution in northern Nevada.
Joining GNCU and/or opening an Aspire Checking account can be done online, or in person at any of 19 Nevada branches located in Carson City (4), Dayton, Elko (2), Ely, Fernley, Miden, Reno (6), Sparks (2), and West Wendover.
Credit Union Overview
Greater Nevada Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 8.48% (excellent), based on September 30, 2018 data. In the past year, GNCU increased its total non-brokered deposits by $88.66 million, an excellent annual growth rate of 12.08%. Please refer to our financial overview of Greater Nevada Credit Union (NCUA Certificate # 68228) for more details.
Founded in 1949, Greater Nevada Credit Union is currently Nevada’s largest credit union, with nearly 68,000 members and assets in excess of $938 million. According to an April 2016 CU Times article, the Credit Union entered,
into a 15-year naming rights agreement for the home venue of the Reno Aces Baseball Club in Reno, a Triple A affiliate of Major League Baseball’s Arizona Diamondbacks. The ballpark will be named Greater Nevada Field.
“We believe we share a mutual commitment toward encouraging continued economic revitalization and community development in our region,” Greater Nevada President/CEO Wally Murray said. “We’re looking forward to Greater Nevada Field becoming a year-round venue that hosts a variety of events and programs and provides a multitude of safe and enjoyable experiences for families, individuals and groups.”
How the Aspire Checking Compares
When compared to the High Yield Reward Checking Accounts tracked by DepositAccounts.com that are available within the FOM and have maximum qualifying balances of at least $50k, Greater Nevada Credit Union’s Aspire Checking APY currently ranks first.
The above rates are accurate as of 2/1/2019.
To look for the best Reward Checking Account rates, both nationwide and in your state, please refer to our High Yield Reward Checking Account Rates Table page.