Red River Federal Credit Union is offering a high-yield reward checking account called CHA-Ching Reward Checking. The balance cap is a little disappointing, but the rates are better the average. The following is the list of rates and features if certain monthly requirements are met (as of 4/30/2010):
- 4.25% APY up to $10,000
- 1.25% APY on portion of balance over $10,000
- 0.10% base rate if requirements are not met
- Nationwide ATM fee refunds up to $25 per cycle
Monthly requirements include:
- 10 debit card purchases
- 1 direct deposit or automatic payment
- Access online banking
- Receive e-statements
Other features of the account include:
- No minimum initial deposit or minimum balance requirement
- No monthly service fees
- Free online bill pay
Membership is open to those who live, work, worship, volunteer, or attend school in one of the following counties in OK: Comanche, Greer, Harmon, Jackson, Kiowa, and Tillman. Also included is Vernon, Texas in Wilbarger County. Please refer to the credit union's membership page for more details. Membership requires a minimum balance of $5 in the share savings account.
The credit union's ratings for safety and soundness are above average: 5 stars (superior) at BauerFinancial (based on 12/31/09 data) and 3 stars (performing) at Bankrate.com (based on 9/30/09 data). The credit union is federally insured by the NCUA (Charter # 12082).
Other High-Yield Reward Checking Accounts
Please refer to the reward checking section of DepositAccounts.com to find reward checking accounts in your state or that are available nationwide.