High-Yield Reward Checking Account at Public Service Credit Union in Indiana - Local Only

Update 4/5/2011: The top rate has increased to 3.75% APY but the balance cap has fallen to $10K.

Public Service Credit Union has a reward checking account called Smart Checking. The account offers the following rates if certain monthly requirements are met:

• 3.75% APY on balances up to $10,000
• 0.40% APY on balances over $10,000
• 0.01% base rate if qualifications are not met

The monthly requirements include:

• 10 debit card purchases (credit only, not PIN-based)
• one ACH deposit or withdrawal
• receive e-statements

Additional features of the account regardless of the monthly requirements include:

• No minimum balance requirement
• No monthly service charge
• Free Online Bill Pay

I don't see any mention of refunds of ATM fees. However, according to the credit union, they're part of the Alliance One Network where you can find surcharge free ATM's.

Membership is open to those who live or work in Allen County, Indiana. You can also be eligible via family or select employer groups. Please refer to the credit union's membership requirements page for the full details.

Branches are located in Fort Wayne, Indiana. The credit union is federally insured by the NCUA (Charter # 64275)

Thanks to the reader who mentioned this reward checking account in the comments.

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:

• 04/03/11: 3.75% APY up to $10K; 0.40% over
• 01/05/11: 2.25% APY up to $40K
• 10/01/10: 2.50% APY up to $40K
• 05/10/10: 2.75% APY up to $40K
• 12/31/09: 3.00% APY up to $40K
• 11/01/09: 3.51% APY up to $40K
• 06/03/09: 4.01% APY up to $40K; 1.00% over; 0.01% base
• 05/07/09: 5.50% APY up to $40K; 1.00% over; 0.10% base