3.90% Reward Checking Account at UMassFive College FCU in Massachusetts

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Update 10/04/09: The top rate has fallen to 3.90% APY.

UMassFive College FCU is offering a reward checking account called Co-op Advantage Checking. It pays 3.90% APY on balances up to $25,000 (1.01% for above) and refunds up to $25 per cycle of nationwide ATM fees if the following monthly requirements are met:
  • 12 debit card purchases
  • 1 direct deposit or ACH auto debit
  • receive eStatements
If these are not met, the rate falls to 0.10%. There are no minimum balance requirements.

Membership is open to employees of the UMass system, Amherst College, Hampshire College, Mt. Holyoke College, and Smith College. There are other groups that are also eligible. Please refer to the credit union's Membership Page for the full details. Membership requires a minimum balance of $5 in the share savings account.

Branches are located in the Massachusetts cities of Hadley, Amherst, Worcester and Northampton.

The credit union is federally insured by the NCUA (Charter # 18181).

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.

Account History:
10/01/09: 3.90% APY up to $25K
05/05/09: 4.09% APY up to $25K
12/30/08: 4.59% APY up to $25K; 1.01% over; 0.10% base
Related Pages: UMassFive College Federal Credit Union, Boston, Springfield, checking account, reward checking account

Comments
Anonymous
  |     |   Comment #1
Good rate!

Submitted it to BankFiesta.com to share with others. Thanks!
carol
  |     |   Comment #2
Great blog.. good info please stop by one of my blogs when you have time

thanks,
Carol
Anonymous
  |     |   Comment #3
UMass: dropped from 4.09% to 3.9% as of 10/1/09.
Dan
  |     |   Comment #4
The rate for this account is 3.56% currently.

It will be dropping to 2.99% on January 1, 2011.

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