Heritage South CU's (AL) Premium Rewards Checking Earns 3.00% APY


Deal Summary: Premium Rewards Checking, 3.00% APY, up to $15k.

Availability: Residents of Calhoun, Chambers, Clay, Cleburne, Chilton, Coosa, Elmore, Talladega, Jefferson, Lee, Randolph, St. Clair, Shelby, and Tallapoosa Counties, Alabama.

Heritage South Credit Union’s (Heritage South) Premium Rewards Checking currently earns 3.00% APY on qualifying balances up to $15k. Qualifying balances of $15k+ earn the same rate as the Regular Share Savings (currently 0.20% APY), as do non-qualifying balances.

In July 2013, DA reader, pearlbrown, wrote a Forum post about the Premium Rewards Checking account. Nearly four years later, the Premium Rewards Checking account has maintained its 3.00% APY, the $15k qualifying balance, and the qualifying requirements.

3.00*%-$15kHeritage South Credit UnionPremium Rewards Checking
OTHER TIERS: 0.20% $15k+
Accounts mentioned in this post. Rates as of January 18, 2018.

Premium Rewards Checking Qualifying Requirements

  • Have at least 12 debit card purchases.
  • Have at least one ACH direct deposit or automatic payment.
  • Receive eStatements and eNotices.
  • Log into Online Banking at least once a month.

As stated in the Premium Rewards Checking FAQ page,

Please note that if all four qualifying services are not met, then you must maintain a minimum balance of $500.00 to earn a dividend.

The Premium Rewards Checking account has no minimum balance requirement, no minimum opening deposit and no monthly service charge. Four free third-party ATM transactions are allowed per month.

New Premium Rewards Checking accounts will automatically receive the benefits for the first calendar month the account is open. This will give you time to get your debit card and set up your ACH deposits and withdrawals.


Headquartered in Sylacauga, Alabama, Heritage South Credit Union’s field of membership (FOM) is residency based, with all individuals who live, work, worship, or attend school in the following 14 central Alabama counties eligible to join:

Calhoun, Chambers, Clay, Cleburne, Chilton, Coosa, Elmore, Talladega, Jefferson, Lee, Randolph, St. Clair, Shelby, and Tallapoosa.

Joining Heritage South and/or opening an Premium Rewards Checking account can be done in person at any of four Alabama branches located in Childersburg, Moody, and Sylacauga (2), by phone (256.245.4776), or by email.

Surprisingly, there is no membership application available for download on Heritage South’s website.

Credit Union Overview

Heritage South Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 6.78% (excellent), based on December 31, 2016 data. In the past year, Heritage South increased its total non-brokered deposits by $7.93 million, an excellent annual growth rate of 8.39%. Please refer to our financial overview of Heritage South Credit Union (NCUA Charter # 68586) for more details.

Heritage South Credit Union was chartered in 1937 as the Avondale Employees Federal Credit Union, serving the employees of the Avondale Textile Mills in Sylacauga, Alabama. The Credit Union just celebrated its 80thanniversary in January, having gone through a few name changes and an expanded FOM. With more than 10,700 members, Heritage South is currently Alabama’s 30th largest credit union with total assets in excess of $114 million.

How the Premium Rewards Checking Compares

When compared to the 29 High Yield RCAs tracked by DepositAccounts.com that are available within the FOM and have maximum qualifying balances of at least $15k, Heritage South Credit Union’s Premium Rewards Checking APY currently ranks third.

The above rates are accurate as of 4/21/2017.

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 or our Rates Map page.