Vision Bank - Texas has offered a very competitive reward checking account since 2009. I just noticed it also has a good deal on a savings account for large balances. It's the bank's Premier Savings Account which is a tiered-rate account with a top rate of 1.66% APY on balances of at least $100K. That competitive rate comes with a price. The rate goes way down to 0.30% for balances under $100K. Also, there's a $10 quarterly fee for balances under $100K. Another downside to the account is that it allows only 3 free withdrawals per quarter. These rates are listed in the bank's rates page as of 3/16/2011. More details about this account are described in the bank's Premier Savings Account page.
The 1.66% APY isn't much higher than the 1.51% APY that The Morrill & Janes Bank is currently offering on its nationally available checking account. However, since this Vision Bank savings account isn't available nationwide and since it has larger balance requirements, they may be better able to maintain the high rate.
For those who want a high rate for smaller balances, Visions Bank continues to offer a very competitive rate on its reward checking account. As of 3/16/2011, the account has a 4.00% APY on balances up to $25K. I have more details in my Visions Bank reward checking account review.
Online Application for Certain Texas Counties
The bank has an online application, but at the top of the application it states that it only serves the following counties: Collin, Dallas, Denton, Rockwall, Tarrant and other contiguous counties within the state of Texas. In 2009 I was told by the bank rep that they do require a branch visit to complete the application process.
It's a small bank with one office located in Richardson, Texas which is in the suburbs of Dallas.
The bank has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 1.61% (excellent) based on December 2010 data. Please refer to our financial overview of Visions Bank - Texas for more details. The bank has been a FDIC member since 2007 (FDIC Certificate # 58447).