High-Yield Reward Checking Account at Point Loma Credit Union in California


Update 7/22/10: The top rate has fallen to 2.00% APY.

Point Loma Credit Union is offering a reward checking account called Ultra Rewards. The account offers the following features if certain monthly requirements are met:

  • 2.00% APY on balances up to $25,000
  • 0.25% APY on balances over $25,000
  • ATM fees refunded up to $10 per month

Rates are listed at the credit union's rate table as of 5/17/09. The monthly requirements include:

  • 12 debit card purchases
  • one direct deposit
  • receive e-statements

This account is not available to members with AccessBuilder Checking or Electronic Transfer Accounts. If requirements are not met the account reverts to appropriate Lighthouse Relationship Program level with no ATM refunds or higher dividend for that statement period; monthly service fees may apply. Minimum initial deposit is $25.

Credit union membership is available to everyone who lives, works or worships in San Diego and Riverside Counties. Refer to the credit union's How to Join Page for more details. An online application is available using the Andera service. Membership requires a minimum balance of $5 in the share savings account.

The credit union is federally insured by the NCUA (Charter # 68377).

Other Reward Checking Accounts

To find reward checking accounts in other areas of the nation or to learn more about these accounts, please refer to my High Yield Checking website.

Rate History:

  • 07/22/10: 2.00% APY up to $25K (rate drops occurred earlier in 2010)
  • 11/03/09: 2.50% APY up to $25K
  • 08/06/09: 2.75% APY up to $25K
  • 05/01/09: 3.00% APY up to $25K, 0.25% over
  • 03/16/09: 3.56% APY up to $25K, 0.25% over
Related Pages: checking account, reward checking account

  |     |   Comment #1
Check out the latest top bank rates from CheckingFinder.com. These are NOT teaser rates.

Rates with a * signifies this bank rate is available nationwide.

First Robinson Savings Bank - Robinson, IL 6.01
Southern Missouri Bank & Trust 6.01
Bank of Ripley - Ripley, TN 5.26
LA DOTD Federal Credit Union - Denham Spring, LA 5.25
Keystone Bank - Auburn, AL *5.15
Connexus Credit Union - Wausau, WI *5.15
Community State Bank - Poteau, OK 5.05
First State Bank - Kansas City, KS 5.03
State Employees Credit Union - Santa Fe, NM 5.02
Grand Bank of Texas - Grand Prairie, TX 5.02
Malvern Federal Savings Bank - Paoli, PA *5.01
Union State Bank - Everest, KS 5.01
United National Bank - Cairo, GA 5.01
First Banking Center - Lake Geneva, WI 5.01
Noble Bank & Trust - Anniston, AL 5.01
The Community Bank - Brockton, MA 5.01
Community Bank of Pleasant Hill - Pleasant Hill, MO *5.01
Olmsted National Bank - Rochester, MN *5.01

Hope this helps!

Erik (CheckingFinder.com)
Banking Guy
  |     |   Comment #2
Erik, it seems like several banks often change their nationwide availability policy. Case in point is Bank of Ripley in TN. I noticed in January that it was listed at CheckingFinder for all US zip codes. But now CheckingFinder only shows this for TN zip codes. For the opposite case, I see Malvern Federal Savings Bank is now nationwide.

Could you keep me up-to-date when banks change their nationwide availability status? As I update my nationwide list, I'll do a new reward checking post with references to CheckingFinder like I did in January.
  |     |   Comment #3
@Banking Guy- Thanks for your inquiry. I'm currently looking into your request and should have a response early next week. Thanks!
  |     |   Comment #4
I was very happy to see we finally had a local bank offering a high yield reward checking account. In addition to the high yield we also got a $25 gift card for Cold Stone! But I can't say I'm happy with anything else. I opened 2 accounts and have to have 2 different debit cards and 2 different user names to access the accounts with online. I had thought of closing my Chase accounts but at least its one card and one user name for ALL accounts which makes if very convenient. Same with with the BofA accounts so not sure why this credit union is not up with the times. At the first chance of another reward checking account within San Diego County I'm moving unless management gets up to speed. I'm very disappointed.
  |     |   Comment #5
PLCU has lowered their apy on their rewards to 3.0% up to 25K and then .25% on balances above. The change was last month according to CSR. Happy Banking!
  |     |   Comment #6
Frankly I have had nothing but problems with this bank. We are not wealthy investors. My wife is now on disability and I am out of work. The little money we get winds up being held for days anywhere from 6 days to 17 days. Meanwhile we are stuck without money to even live on. WE get no real service but are charged huge service fees for being as much as .77 overdrawn. This was due to a vendor charging me 79.00 without my permission. The bank did nothing to help me recover or dispute the transaction. Since I have been with this bank they have found more ways to steal my money then any bank I have ever been with. I will be closing my account immediately.  Don't bank here. They do not even do their own banking. If you deposit in the ATM some other service picks the money up and it goes to another bank to be dealt with. It takes four days to get the deposit to show. Meanwhile you are stuck without money. THIS IS THE WORST BANK THAT I HAVE EVER BEEN WITH AND THAT INCLUDES B OF A WHO ARE HORRIBLE.

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