Telco Plus Credit Union is offering a high-yield reward checking account called Rewards Plus. The account has the following rates and features if certain monthly requirements are met (as listed on the credit union's front page as of 5/25/10):
- 3.81% APY on balances up to $20,000
- 1.50% APY on portion of balance over $20,000
- 0.10% base rate if requirements are not met
- Refunds of ATM fees
Monthly requirements include:
- 10 signature-based debit card purchases
- 1 direct deposit, automatic payment or Free2Pay transaction
- Receive e-statements
Credit union membership is open to any who lives or works in Gregg or Smith County, Texas. Please refer to the credit union Who Can Join page for the full details.
Branches are located in Tyler and Longview, Texas.
The credit union's ratings for safety and soundness are strong: 5 stars (superior) at BauerFinancial, 4 stars (sound) at Bankrate.com and an overall score of 5 out of 5 at DepositAccounts.com (see our Telco Plus CU rates and reviews page). All ratings are based on 12/31/09 financial data. The credit union is federally insured by the NCUA (Charter # 66351).
Other High-Yield Reward Checking Accounts
The balance cap of $20K is a little below the average $25K cap. However, the second tier rate of 1.50% is above average these days. If one had $25K in this account at Telco Plus, the blended APY would currently be 3.35%.
Please refer to the reward checking section of DepositAccounts.com to find reward checking accounts in your state or that are available nationwide.