NavyArmy Community Credit Union (TX) Liberty Checking Is Rate Leader
It’s been ten years since I last wrote about NavyArmy Community Credit Union’s (NavyArmy) Liberty Checking account. This rewards checking account currently earns 3.01% APY on qualifying balances up to $25k. Qualifying balances over $25k earn 0.50% APY, with non-qualifying balances earning 0.10% APY.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 3.01*% | - | $25k | Navy Army Community Credit Union | Liberty Checking Share Draft | |
| OTHER TIERS: 0.50% → $25k+ | |||||
The Liberty Checking account was added to NavyArmy’s product line in 2009, with an initial rate of 4.51% APY. While the qualifying balance cap has remained at $25k, there have been two rate drops: 3.51% APY (April 2011) and 3.01% APY (October 2017).
The qualification cycle requirements consist of,
- At least 10 debit card purchases.
- At least one direct deposit or authorize one automatic payment.
- Be enrolled in and receive e-Statements at a valid email address.
The Liberty Checking account has no monthly service fee, but does require a minimum average daily balance of $0.01 to earn the stated APY. The minimum opening deposit is $20. Unlimited nationwide ATM fees will be reimbursed up to a maximum of $4.99 per transaction, if qualifications are met. ATM fees of $5.00 and higher will be reimbursed, if the corresponding ATM receipt is presented. There is a limit of one Liberty Checking account per household. Unlimited check writing is available, but as stated in the Liberty Checking section of the Member Account Agreement,
Fees and charges: If checks are not ordered through our authorized vendor, there will be a check rejection fee of $1.00 per rejected item.
Availability
Headquartered in Corpus Christi, Texas, NavyArmy Community Credit Union’s name seems to suggest a field of membership (FOM) with some type of military relationship requirement. Instead, the FOM is currently residency-based, with individuals who live, work, worship, or attend school in the South Texas counties of Aransas, Bee, Cameron, Hidalgo, Jim Wells, Kleberg, Nueces, and San Patricio eligible for membership.
Joining NavyArmy and/or open a Liberty Checking account can be done online or at any of the 18 Texas branches, located in Beeville, Brownsville, Corpus Christi (9), Edinburg, Kingsville, McAllen, Mission, Portland, Rockport, and Weslaco.
A savings account with a balance of at least $25.00 must be maintained in order to remain a member of NavyArmy.
Credit Union Overview
NavyArmy Community Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 7.74% (excellent) based on December 31, 2019 data. In the past year, NavyArmy has increased its total non-brokered deposits by $200.64 million, an excellent annual growth rate of 7.88%. Please refer to our financial overview of NavyArmy Community Credit Union (NCUA Charter # 68615) for more details.
NavyArmy Community Credit Union was chartered in 1955 as the Naval Employees Corpus Christi Federal Credit Union. After a couple of name changes, the Credit Union adopted its present name in 2011, following the change to a state charter allowing NavyArmy to expand into two additional Rio Grande Valley counties. NavyArmy is currently the fifth largest credit union in Texas, with more than 188,000 members and assets in excess of $3.2 billion.
How Liberty Checking Compares
When compared to the High Yield Rewards Checking Accounts tracked by DepositAccounts.com that are available within the FOM and have maximum qualifying balances of at least $25k, NavyArmy Community Credit Union’s Liberty Checking APY* currently ranks first.
| Interest Rate | Account Name | Credit Union/Bank |
|---|---|---|
| 3.01% APY | Liberty Checking ($25k max) | NavyArmy Community Credit Union |
| 3.00% APY | Kansas Cash ($25k max) | The Bank of Denver |
| 2.25% APY | Checkless Checking ($25k max) | Presidential Bank |
The above rates are accurate as of 6/25/2020.
To search for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.
*We continue to work to keep our rates up-to-date, but there have been just too many rate cuts for us to process quickly. For the time being, please be aware that the rates listed at DepositAccounts.com may not reflect the latest rates published by the banks and credit unions.
I still keep the four accounts with a few dollars balance but have not loaded these accounts after they dropped the rate from 3.51% to 3.01%.