When I was reviewing the best reward checking accounts in Houston and in Texas, a reader noted Union Square Federal Credit Union. Even though it's not available for all Texans, its reward checking account does offer the highest rate in Texas. The account is called Premier Checking, and it has the following rates and features if certain monthly requirements are met (as of 4/21/2011):
- 4.51% APY for balances up to $25,000
- 1.01% APY for portion of balance over $25,000
- 0.10% base rate if requirements are not met
- ATM fees reimbursed nationwide up to $25 per month or $5 per item
Monthly requirements include:
- 12 MasterCard debit card purchases
- 1 Direct Deposit or electronic/ACH payment
- Access online banking
- Electronic Statements
There are no monthly fees or minimum balance regardless if the above requirements are met. Minimum initial deposit is $100.
Unfortunately, not too many Texas residents will be eligible for this account. Membership is primarily limited to those who live or work in Wichita County, Texas. Please refer to the credit union membership page for the full details.
Credit Union Overview
Union Square Credit Union branches are located in Wichita Falls, Burkburnett and Sheppard AFB.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 3.93% (excellent) based on December 2010 data. Please refer to our financial overview of Union Square Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 11633).
Best Reward Checking Accounts in Texas and Nationwide
This is currently the best reward checking account in Texas. You can see the list in our Texas Reward Checking Rates table. I reviewed a few of the top Houston and Texas reward checking accounts on Tuesday.
For nationally available reward checking accounts, Danversbank is now the only one to offer at least a 3 percent yield for balances up to $25K (3.01% APY as of 4/21/2011).
To find reward checking accounts in your state or to find those available nationwide, please refer to the reward checking section of DepositAccounts.com.