- 5.00% APY on balances up to $10,000
- 1.00% APY on portion of balance over $10,000
- 0.10% base rate if monthly requirements are not met
- 5 debit card purchases (excludes ATM transactions)
- Receive e-statements
- No minimum initial deposit
- No minimum balance requirement
- No monthly service charge
- First 5 checks free, thereafter $3.00 each
- Trial (free) bill pay for 3 months, thereafter $5.95 per month
Also, they also offer an attractive youth College Savings Fund that pays 10% on the first $500, 3% for any amount over that, contingent upon $100 minimum contributions annually.
A branch visit is required to verify identity when opening an account. Branches are located in five communities just north of Minneapolis: Blaine, Ramsey, Oak Grove, St. Francis and East Bethel.
The bank's ratings for safety and soundness are mixed: 2 stars (problematic) at BauerFinancial and 4 stars (sound) at Bankrate.com, both based on 6/30/09 data. The bank has been a FDIC member since 1993 (FDIC Certificate # 33761).
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.