TruWest Credit Union High Yield Checking Available In AZ And TX
TruWest Credit Union (TruWest) introduced its High Yield Checking account about 18 months ago. The initial 3.00% APY on qualifying balances up to $10k is still in effect. Qualifying balances over $10k and non-qualifying balances both earn 0.05% APY
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 3.00*% | - | $10k | TruWest Credit Union | High Yield Checking | |
| OTHER TIERS: 0.05% → $10k+ | |||||
The monthly qualification requirements include,
- At least 15 TruWest debit or TruWest credit card purchases
- At least $500 in qualifying* direct deposit(s)
- Opt in to eStatements
*Payroll, pension or government benefits (such as Social Security) funds from a member’s employer or the government.
The High Yield Checking account has no minimum balance requirement, monthly service fee, or minimum opening deposit requirement. Unlimited check writing is available and a free TruWest debit card will be issued following account opening. While foreign ATM fees are not reimbursed, TruWest participates in the CO-OP ATM network. There is a limit of one High Yield Checking account per primary member.
Availability
Headquartered in Tempe, Arizona, TruWest Credit Union’s field of membership (FOM) was originally open to Motorola Corporation employees only. About 18 years ago, the FOM was expanded to include residency as a qualification for membership.
Arizona Residency: Individuals who live, work, or own a business in the counties of Maricopa, Pinal, Pima, or Yavapai are eligible to join.
Texas Residency: Individuals who live, work, own a business, or attend school in Travis or Williamson Counties qualify.
Relationship: Family members (defined as spouse, child, parent, grandparent, sibling, including adoptive, in-law, and step-relations) of current TruWest members also qualify for membership. The online application’s definition of “family members,” also includes “anyone covered under Motorola benefits.”
Joining TruWest and/or opening a High Yield Checking account can be done online or at any of the ten Arizona branches located in Chandler, Gilbert, Mesa (2), Phoenix (2), Scottsdale (2), and Tempe (2), or the four Texas branches in Austin (3) and Round Rock.
As stated on TruWest's Locations page,
All branch locations are now open. For the health and safety of our members and staff, we recommend scheduling an appointment prior to your visit. You may also open new accounts or apply for loans through online banking or the TruWest mobile app.
A minimum $5 deposit in a Share Savings account establishes a TruWest membership.
TruWest participates in the CO-OP Shared Branch and ATM networks, giving members,
account access at more than 30,000 free ATMs and over 5,000 Shared Branching locations.
Credit Union Overview
TruWest Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.94% (excellent) based on December 31, 2020 data. In the past year, TruWest has increased its total non-brokered deposits by $140.27 million, an excellent annual growth rate of 13.05%. Please refer to our financial overview of TruWest Credit Union (NCUA Charter # 63832) for more details.
Established in 1952 as the Motorola Credit Union, the FOM was exclusive to Motorola employees until 2002, when membership was extended to the residents in the East Valley of metro Phoenix. The TruWest name was approved in 2003, and in 2004 the FOM expanded into Maricopa County, AZ, and Travis County, TX. TruWest Credit Union is currently the sixth largest credit union headquartered in Arizona, with nearly 94,000 members and assets in excess of $1.3 billion.
How the High Yield Checking Compares
When compared to the High Yield Reward Checking Accounts tracked by DepositAccounts.com, which are available within the FOM and have maximum qualifying balances of at least $10k, TruWest Credit Union’s High Yield Checking APY currently ranks fourth.
The above information and rates are accurate as of 4/29/2021.
To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account rates table page.
