3.00% Reward Checking Account in Washington State (iQ Credit Union)


Update 5/03/09: The top yield has fallen to 3.00% APY. See bottom of post for the rate history.

iQ Credit Union is offering a reward checking account called Intelligent Checking that pays 3.00% APY on balances up to $25,000 (0.10% for above) and refunds ATM fees (up to $25) if the following monthly requirements are met: 1) 12 debit card transactions, 2) one ACH or payroll deposit of $100 or more, 3) receive eStatements, and 4) use the Computer Branch at least once. If these are not met, the rate falls to 0.05%.

Membership is open to those who live, work, worship or go to school in the state of Washington. Please refer to the Eligibility Q&A for more details. Membership requires a minimum deposit of $25 in the share savings account.

Branches are located in the Washington cities of Vancouver, Battle Ground and Ridgefield. The credit union is federally insured by the NCUA (Charter # 60438). It has $375.6 million in assets and 41,065 members.

Other High Yield Reward Checking Accounts

For other reward checking accounts and for more information on these accounts, please refer to the following posts:

Rate History:
05/01/09: 3.00% APY for up to $25K; 0.10% for above
04/01/09: 3.15% APY for up to $25K
03/04/09: 3.55% APY for up to $25K
01/05/09: 3.80% APY for up to $25K; 0.20% for above; 0.05% if req's not met
11/03/08: 4.35% APY
10/02/08: 5.00% APY
05/09/08: 5.25% APY
03/05/08: 5.75% APY for up to $25K; 0.35% for above; 0.20% if req's not met
Related Pages: checking account, reward checking account

Anonymous   |     |   Comment #1
Looks like a branch visit is required to open the a/c. From the a/c opening page:

"As part of our membership process, it is necessary to visit a branch to produce identification, sign a few documents, and make your opening deposit. Please indicate below which branch would be most convenient for you to perform these transactions. "
Anonymous   |     |   Comment #2
Looks like their Intelligent Checking (Rewards cehckings) is now at 5.00% APR.
Daveflave   |     |   Comment #3
As of November 1, 2008 their Intelligent Checking has dropped to 4.35% APR.
Anonymous   |     |   Comment #4
The new rate table effective 1/1/09 list new rates:
3.80% APY up to $25K; 0.20% APY over $25K; 0.05% if requirements not met.
Anonymous   |     |   Comment #5
Effective 3/4-10 the top rate has fallen to 3.55%. Other rates remain same.
Anonymous   |     |   Comment #6
Effective 4/1-7 top rate has fallen to 3.15% APY. Other rates remain same.