Reward Checking Account at Union Center National Bank in New Jersey - Local Only


Update 11/4/11: Rates have fallen. Refer to the bottom for the rate history.

Union Center National Bank is offering a reward checking account called Super Heart Smart Checking. The account has the following rates and features if certain monthly requirements are met:
  • 2.75% APY on balances up to $30,000
  • 0.43% APY on portion of balance over $30,000
  • 0.10% APY base rate if requirements are not met
  • ATM fee refunds up to $10/cycle
  • $2,500 identity theft protection, payment card protection and identity guard
  • Free checks
The monthly requirements include:
  • 15 debit card purchases
  • 1 direct deposit
  • Receive e-statements
Note, unlike the typical reward checking account, there is a $5/month fee. However, this fee is waived if you have 25 debit card purchases per month.

If you don't want to worry about fees, the bank offers another reward checking account called Heart Smart Checking. The rate is lower at 2.00% ? APY for balances up to $25,000. Another downside is that it lacks ATM fee refunds. This requires only 15 10 debit card purchases per month. The other requirements are the same.

A branch visit is required to open an account. Branches are located in the New Jersey cities of Union, Berkeley Heights, Chatham, Madison, Vauxhall, Springfield, Summit and Morristown. The bank has been a FDIC member since 1934 (FDIC Certificate # 6431).

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.

Rate History:
09/09/2011: 2.75% APY up to $30K; 0.43% over; Req 15 debit card purchases (25 to avoid fee)
02/01/2011: 3.10%
08/03/2010: 3.60%
08/13/2009: 4.00% APY up to $30K; 0.50% over; 0.10% base; Req 20 debit card purchases (30 to avoid fee)
Anonymous   |     |   Comment #1
Anonymous   |     |   Comment #2
what's the rate and limit now?
Anonymous   |     |   Comment #3
Opened two accounts today.
3.1% up to 30K. 15 purchases, and 1 ACH in or out to get the rate, and 25 puchases to avoid the $5 fee.
First two months are qualified automatically. Free checks.

Anonymous   |     |   Comment #4
dropped to 2.75% on 9/1

dropped to 2.45% on 11/1