Update 3/04/10: The balance cap has fallen to $10K. Refer to the bottom of the post for the rate history.
Ocean Communities FCU is offering a reward checking account called Ocean Star Checking that pays 5.01% APY on balances up to $10,000 (1.01% for above) and refunds ATM fees nationwide up to $999 per cycle if the following monthly requirements are met:
- 12 Visa check card purchases
- one direct deposit or ACH payment
- receive electronic statements
If these are not met, the rate falls to 0.20%. There are no minimum balance requirements and no monthly service fees. Multiple accounts can be opened, but requirements must be met for each account.
Membership is open to people who live or work in most communities in York or Cumberland counties in Maine. Please refer to the credit union's Information Page for more details. Membership requires a minimum balance of $50 in the share savings account.
Branches are located in Biddeford, Kennebunk, Old Orchard Beach, Sanford and York. The credit union is federally insured by the NCUA (Charter # 5890).
Other Rewards 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.
01/31/10: 5.01% APY up to $10K
12/05/08: 5.01% APY up to $25K