- 4.01% APY on balances up to $25,000
- 1.01% on portion of balances above $25,000
- 0.10% base rate if qualifications are not met
- Refund ATM fees nationwide up to $25 per month
The monthly requirements include:
- 12 debit card purchases
- One direct deposit or ACH transaction into your account
- Access home (online) banking
- Receive electronic statements
Additional features of the account regardless of the monthly requirements include:
- No minimum balance requirement
- No monthly service charge
- $25 minimum balance in a share (savings) account
A TIS disclosure (pdf) gives full terms and conditions of this account.
Membership is primarily open to the students, employees and alumni of the University of Maine system. Read the membership eligibility page for eligibility details for other individuals or SEG in the area. Branches are located in Orono, Bangor, Farmington and Portland.
The credit union's ratings for safety and soundness are mixed: 5 stars (superior) at BauerFinancial (based on 6/30/09 data) and 3 stars (performing) at Bankrate.com (based on 3/31/09 data). The credit union is federally insured by the NCUA (Charter # 63133).
Other Reward Checking Accounts
Very few of the state universities across the US offer on-campus reward checking. Exceptions would be the University of Wyoming and University of Iowa.
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.