Update 10/02/10: The top rate has fallen to 2.27% APY. Refer to the bottom of the post for the rate history.
Pacific Resource Credit Union is offering a reward checking account called High Flying Checking. The account offers the following features if certain monthly requirements are met:
- 2.27% APY on balances up to $15,000
- 0.61% APY on balances over $15,000
- 0.20% base rate if qualifications are not met
- ATM fees refunded up to $25 per cycle (and up to $5 per transaction)
The monthly requirements include:
- 10 debit card purchases
- one direct deposit or ACH auto debit
- receive e-statements
Additional features of the account regardless of the monthly requirements include:
- No minimum to open
- No minimum balance requirement
- Free Resource Bill Pay
Credit union membership is open to any member of the Central City Police Boosters. On the first page of the online membership application, you can select "I would like to join the Central City Police Boosters. I understand that Pacific Resource Credit Union will pay my $25 membership fee." You can be eligible to join the credit union without joining this organization if you live, work, worship or attend school in metro Los Angeles, Carson, Cerritos, Cypress, La Palma, Lakewood, or Torrance. Please refer to the credit union's membership page for the full details. Membership requires a minimum balance of $5 in the share savings account.
Branches are located in Los Angeles and Carson, California.
The credit union is federally insured by the NCUA (Charter # 68414).
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.
10/02/10: 2.27% APY up to $15K; 0.61% over
07/01/10: 2.53% APY up to $25K
04/01/10: 3.04% APY
02/01/10: 3.56% APY
05/07/09: 4.07% APY up to $25K; 1.33% over
04/05/09: 4.25% APY up to $25K; 1.01% over; 0.20% base