3.50% Reward Checking Account at Scituate Federal Savings in MA - Local Only


Scituate Federal Savings is offering a high yield reward checking account called Performance Checking. The account has the following rates and features if certain monthly requirements are met:
  • 3.50% APY on balances up to $25,000
  • 0.10% APY on portion of balance over $25,000
  • 0.10% on all balances if requirements are not met
The monthly requirements include:
  • 12 debit card purchases (non-PIN)
  • 1 direct deposit or ACH transfer
Additional features of the account regardless of the monthly requirements include:
  • $25 minimum initial deposit
  • No minimum balance requirement
  • No monthly maintenance fee
  • unlimited ATM access, but other institutions may charge for the use of their ATMs
A branch visit is required to open an account, and ChexSystem is used in the application process.

Branches are located in the Massachusetts cities of Scituate, North Scituate, Marshfield, Green Harbor, Norwell and Hingham.

The bank's ratings for safety and soundness are strong: 4 stars (excellent) at BauerFinancial (based on 6/30/09 data) and 4 stars (sound) at Bankrate.com (based on 3/31/09 data). The bank was established in 1928, and it has been a FDIC member since 1955 (FDIC Certificate # 30424).

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.
5-Month Gas-Price CD Special at a Massachusetts Bank (Scituate Federal Savings)
Scituate Federal Savings has a creative CD special. They're offering a 5-month CD with a yield that's tied to the rate you paid for gas. If you paid $4.03 for a gallon of gas, you'll get 4.03% APY. The minimum deposit is $500, and the maximum is $50,000. A checking account is required. Gas receipt must be presented in person.

This special isn't listed at the bank's website. A reader emailed me a flier of this deal, and I've posted it here. Some of the small print of the special includes:
  • Valid...

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