Las Colinas Fed Credit Union Has Rate-Leading Reward Checking Account


Deal Summary: Premier Checking, 7.00% APY, up to $25k.

Availability: Easy membership requirement in Texas.

About three months ago, Las Colinas Federal Credit Union (LCFCU) boosted the rate on its reward checking account, Premier Checking, by 200 bps. The Premier Checking currently earns 7.00% APY on qualifying balances up to $25k, with qualifying balances of $25k+ and non-qualifying balances both earning 0.01% APY.

There are only two monthly qualifying requirements:

  • At least 15 debit card purchases
  • $25 minimum daily balance

The Premier Checking account has no monthly service or maintenance fees and no minimum opening deposit requirement. Unlimited check writing is available, and a free Visa debit card will be issued following account opening. There is no ATM fee reimbursement, but LCFCU belongs to the nationwide CO-OP ATM Network. Online banking and bill payment is free, as long as one bill is paid each month.

Thanks to DA reader, ichaelm, for the recent Forum post about the Premier Checking account.


Headquartered in Irving, Texas, Las Colinas Federal Credit Union’s field of membership (FOM) provides an easy membership requirement to all U.S. citizens and resident aliens (18-years or older with a valid Social Security number) who live in Texas.

Easy Membership Requirement: A $5 donation to the Star Savers Education Foundation qualifies for LCFCU membership.

Community: Individuals who live, work, worship, or attend school in the Dallas Zip Code of 75247, or the geographic area in Irving bordered by Walnut Hill Lane, Belt Line, and 114 are eligible to join LCFCU, as are homeowners in Valley Ranch development in Irving.

Employment: Those who work for any of more than 40 Select Employer Groups also qualify for membership.

School-Run Branches: Those who work for or have a child who attends any of six schools affiliated with a LCFCU School-Run Branch are eligible for membership.

Family Relationship: Immediate family members of a current LCFCU member are also welcome to apply.

Account Opening

Joining LCFCU and/or opening a Premier Checking account can be done online or in person at any of four full-service Texas branches, located in Addison, Coppell, Irving, and Lewisville.

Opening a Basic Savings account with a $25 minimum deposit establishes an LCFCU membership. A minimum balance of $100 is required to earn dividends.

Current [LCFCU] members can call or text us at 214-273-5094 or email us at [email protected] to open a Premier [Checking] Account.

LCFCU participates in the CO-OP ATM Network, but not the Shared Branch Network.

Credit Overview

Las Colinas Federal Credit Union has an overall health grade of "B+" at, with a Texas Ratio of 5.58% (above excellent), based on September 30, 2023 data. In the past year, LCFCU’s total non-brokered deposits decreased by $942k, an average annual growth rate of -1.18%. Please refer to our financial overview of Las Colinas Federal Credit Union (NCUA Charter # 10424) for more details.

Las Colinas Federal Credit Union was chartered in 1955 as the Zale Employees Federal Credit Union (ZEFCU), with a group of Zale employees as founding members. In the ‘80s, five credit unions (Optical FCU, Sherwin Williams FCU, Golden Acres FCU, Joske’s Employee’s FCU, and Mary Kay Cosmetics FCU) merged into ZEFCU. The Las Colinas re-brand occurred following these mergers that decidedly diversified the FOM. (Las Colinas is a 12,000-acre master-planned, mixed-use, planned community development in Irving.) Las Colinas Federal Credit Union is currently the 147th largest credit union headquartered in Texas, with more than 9,600 members and nearly $97 million in assets.

How the Premier Checking Compares

When compared to High Yield Reward Checking Accounts tracked by, which are available to all Texas residents and have maximum qualifying balances of at least $25k, the Las Colinas Federal Credit Union Premier Checking APY currently ranks first.

The above information and rates are accurate as of 3/9/2024.

To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.

Related Pages: Dallas checking accounts, reward checking accounts

  |     |   Comment #1
Huh??? ?? Am I dreaming?
  |     |   Comment #2
Congratulations! You got your 7%. Are you going to go for it or hold off for 8%?
  |     |   Comment #4
I don't get these things.

No rate guarantee. And even if the rate premium lasts an entire year and you do your 180 debits (you'd have to threaten to stick pins in my eyeballs to get me to do that) you get a few hundred bucks extra for the year which isn't even enough after this inflation to pay for a cheap date?

I don't even want to have a debit card much less use it. It has liability issues.
  |     |   Comment #6
I remain a sort-of fan of these. Still have a few, all paying 5 - 6%. Meeting monthly requirements is a no-brainer via online purchases - I don't leave my chair to do it. Debitcard remains in locked desk drawer. The funds are checking-account-liquid - if I happen to see an opportunity requiring immediate cash, I can do it. Biggest downside is fairly small balance cap.

"not enough to pay for a cheap date?" Apparently you have no idea how cheap the dates are in my neighborhood. To wit, you might try the "Taco Bell Chateaubriand" sometime!

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