2.75% Reward Checking Account at a Rhode Island CU (People's)

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Update 9/07/09: The top yield has fallen to 2.75% APY. Refer to the bottom of the post for the rate history.

People's Credit Union has a reward checking account called e-plus Checking which pays 2.75% APY on balances up to $50K (0.50% above) and refunds ATM fees (up to $25 per cycle) if the following monthly requirements are met: 1) 12 debit card purchases, 2) direct deposit or ACH auto debit, and 3) log into home banking. If these requirements are not met, the rate falls to 0.10%. The minimum initial deposit is $25. There are no minimum balance requirements. A $10 monthly fee applies without direct deposit.

I couldn't find their field of membership page, but it appears open to anyone in Rhode Island. This page has the following information:
Membership in People's Credit Union is available to corporations, partnerships, sole proprietorships, voluntary associations, fraternal organizations, trusts, limited liability companies and individuals regardless of residence or occupation.

Branches are located in Bristol, Middletown, Newport, North Kingstown, Portsmouth and Wakefield. The credit union is federally insured by the NCUA (Charter # 65861). It has $356.4 million in assets and 31,488 members.

Other Reward Checking Accounts

For other reward checking accounts in other parts of the country, please see my reward checking account page and my best checking account post.

Rate History:
09/01/09: 2.75% APY up to $50K
07/01/09: 3.65% APY up to $50K; 0.50% over
02/18/09: 4.00% APY up to $50K; 1.00% over
12/09/08: 4.30% APY up to $50K; 1.50% over; 0.10% if req's not met
05/05/08: 4.55% APY
02/05/08: 5.01% APY up to $100K; 1.51% over
10/11/07: 6.01% APY up to $100K; 2.00% over; 0.10% if req's not met

Edit 11/08/09: Added note on monthly fee without DD. Also removed link to old ad.
Comments
Anonymous
Anonymous   |     |   Comment #1
On the website, it stated lower rate above 50K. Guess it has not been updated?
Anonymous
Anonymous   |     |   Comment #2
Apparently open only to RI residents
Anonymous
Anonymous   |     |   Comment #3
The rate has been lowered to 5.01% a few days ago.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #4
Thanks for the info. I've updated the post. Sorry to see another reward checking account lower rates.
Anonymous
Anonymous   |     |   Comment #5
Their rates have dropped again on 5/1, now at 4.55%. I am glad that I didn't open an account with them.
Anonymous
Anonymous   |     |   Comment #6
As of 12/9/08 the yields are: 4.30% APY up to $50K; 1.50% over $50K, and 0.10% if requirements not met.
Anonymous
Anonymous   |     |   Comment #7
As of 2/18/09 the yields are: 4.00% APY up to $50K; 1.00% over $50K, and base rate same.
4.30% 12-Month CD at Peoples Credit Union In South Florida
Update 12/19/08: The CD rate has fallen. Please check the credit union's website for the latest rates.

Peoples Credit Union is offering a special certificate with a yield as high as 4.30% APY for a 12-month term. Minimum deposit is $1,000. The base APY is shown to be 4.00% in the credit union's rate table as of 12/15/08. Higher rates are available with the following checking account activities:
  • 0.10% added for an active checking account
  • 0.10% added for direct deposit
  • 0.10% added for e-statments
My last report on this credit union was in early November...


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4.50% 12-Month CD at Peoples Credit Union In South Florida
Peoples Credit Union is offering a special certificate with a yield as high as 4.50% APY for a 12-month term. Minimum deposit is $1,000. The base yield is 4.20% APY. Higher rates are available with the following checking account activities:
  • 0.10% added for an active checking account
  • 0.10% added for direct deposit
  • 0.10% added for e-statments
Membership is open to anyone who lives, works or owns property in Miami-Dade or Broward County. You can also be elgible via select employer groups. See their membership page for details. Membership requires a $5 membership fee and...
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5.50% 6-Month CD at a South Florida CU (Peoples)
Peoples Credit Union is offering a special 5.50% APY 6-month certificate of deposit. The minimum deposit is $10,000, and it requires new money.

Membership is open to anyone who lives, works or owns property in Miami-Dade or Broward County. You can also be elgible via select employer groups. See their membership page for details. Membership requires a $5 membership fee and a minimum deposit of $50 into the share savings account.

Branches are located in Miami, North Miami, Hialeah and Pembroke Pines, Florida. The credit union is federally insured by the NCUA...



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