4.19% Reward Checking Account at Founders Bank in Illinois


Update 7/04/09: The bank has been closed by regulators, and the FDIC has arranged for all deposits to be transferred to The PrivateBank and Trust Company. It is assumed that The PrivateBank will not continue this reward checking account.

Founders Bank is offering a reward checking account with following features if certain monthly requirements are met:
  • 4.19% APY on balances up to $50,000
  • 1.00% APY on balances over $50,000
  • 0.25% base rate if qualifications are not met
  • ATM fees refunded nationwide up to $25 per month
The monthly requirements include:
  • 15 signature-based debit card purchases
  • one direct deposit or ACH auto debit
  • receive e-statements
Additional features of the account regardless of the monthly requirements include:
  • $50 minimum intial deposit
  • no minimum balance requirement
  • no monthly service charges
There's an online application that is provided by Andera. On the first page of the application it states that you must reside in Illinois. Funding is done with an ACH transfer from your existing account at another financial institution.

Branches are located in several Illinois cities including Chicago.

Founders Bank has been FDIC insured since 1961 (FDIC Certificate # 18390).

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.
Related Pages: checking account

Anonymous   |     |   Comment #1
The PrivateBank continues to offer the Reward Checking account.
Anonymous   |     |   Comment #2
The rewards checking account is still being offered by Private Bank, Illinois.