Westerly Community Credit Union (RI/CT) eChecking Rate Raised


Deal Summary: eChecking, 3.00% APY up to $19,999.99

Availability: Rhode Island and New London County, Connecticut

Two days before the Fed announced yesterday's rate hike, Westerly Community Credit Union (WCCU) added 175 bps to its eChecking rate, giving the rewards checking account a 3.00% APY on qualifying balances up to $19,999.99. Qualifying balances of $20k and above earn 0.50% APY, with non-qualify balances earning 0.10% APY.

DA has been tracking the eChecking account since early 2010. The new 3.00% APY matches its initial rate, which lasted for about eight months. For more than six years, a 1.00% APY was in effect.

eChecking Qualification Requirements

  • At least 10 debit card purchases.
  • Sign up and activate eStatements.
  • One or more direct deposit(s) or ACH transfer(s) each month totaling at least $500.

The eChecking account has no minimum balance requirement or monthly service fee, but does require a $10 minimum opening deposit. Up to $20 in ATM fees will be reimbursed, “with proper receipts submitted once per month.” There is a limit of one eChecking account per Social Security number.

Thanks to DA reader, Carpline, for his Forum post about the eChecking account’s rate increase.


Headquartered in Westerly, Rhode Island, Westerly Community Credit Union’s field of membership (FOM) is residency based, with individuals who live or work in Rhode Island or New London County, Connecticut eligible for membership.

Joining WCCU and/or opening an eChecking account can be done online or at any of the four full-service Rhode Island branches located in South Kingstown, Westerly (2), and Wyoming.

Credit Union Overview

Westerly Community Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.22% (excellent) based on March 31, 2018 data. In the past year, WCCU has increased its total non-brokered deposits by $17.07 million, an excellent annual growth rate of 7.79%. Please refer to our financial overview of Westerly Community Credit Union (NCUA Charter # 67270) for more details.

Established in 1948, Westerly Community Credit Union is currently Rhode Island’s fifth largest credit union, with more than 18,100 members and assets in excess of $278 million. WCCU has recently been the recipient of several accolades: 2015 – awarded Rhode Island’s “Fastest-Growing and Most Innovative Company,” by the Providence Business News; 2016 and 2017 – “#1 Best Bank,” in the Westerly Sun’s Readers’ Choice Awards; and 2018 – awarded “Best Employer” in the Southern Rhode Island Chamber of Commerce 2018 Chamber Choice Awards.

How the eChecking Compares

When compared to the 38 High Yield Reward Checking Accounts tracked by DepositAccounts.com, which are available within the FOM and have maximum qualifying balances of at least $19,999.99, Westerly Community Credit Union’s eChecking APY currently ranks third.

The above rates are accurate as of 6/14/2018.

To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.

Related Pages: Providence checking accounts, reward checking accounts


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