I reported on Mutual 1st Federal Credit Union last year when it was offering a 4% reward checking account. The rate has actually increased since last year. The top rate is now 4.15% APY as of 10/12/2010. However, this now only applies to balances up to $15K. It used to apply to balances of up to $25K. For reward checking, anything over 3% is a good rate these days. However, the $15K balance cap makes the high rate a little less appealing since there are still many reward checking accounts with a $25K cap. For more details about this reward checking account, please refer to my Mutual 1st Federal reward checking review.
In addition to the reward checking account, the credit union is also offering a special 39-month CD with a 2.40% APY. Minimum deposit is $1,000. This rate is listed in the credit union's rate table as of 10/12/2010. The best internet banks are paying only around 2.20% APY for 36-month CDs these days.
Credit union membership is open to those who live, work, worship or attend school in the Omaha metro area. Please refer to the credit union's membership page for the full details.
Mutual 1st Federal has an overall health score of 3 out of 5 at DepositAccounts.com with a Texas Ratio of 20.90% (above average) based on June 2010 data. Please refer to our financial overview of Mutual 1st Federal Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 24540).