Heartland Credit Union has a rewards checking that pays 3.50% APY on balances up to $25,000 (0.35% for over) and refunds ATM fees (up to $15/cycle) if the following monthly requirements are met: 1) 12 Visa check card transactions, 2) one direct deposit, 3) access online banking, and 4) receive electronic statements. If these are not met, the rate falls to 0.25%. A minimum of $50 to open this account is required. There are no monthly service charge or minimum balance.
Membership is open to anyone living or working in certain counties of Wisconsin, Iowa and Illinois. You can also be eligible via Select Employee Groups which includes AT&T. Please see their Who-Can-Join page for the full details. Membership requires a minimum deposit of $25 into the savings account.
Branches are located in the Wisconsin cities of Madison, Verona, Dodgeville, Lancaster and Platteville. The credit union is federally insured by the NCUA (Charter # 66710). It has $137.4 million in assets and 17,666 members.
Thanks to the reader who sent me info on this checking account.
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.
04/06/09: 3.50% APY for up to $25K
02/28/09: 4.01% APY for up to $25K
12/01/08: 4.50% APY for up to $25K, 0.35% for above, 0.25% if requirements are not met
10/01/08: 5.01% APY
01/16/08: 5.50% APY for up to $25K, 0.50% for above, 0.40% if requirements are not met
Edit 7/11/09: Updated URL to reward checking account.