Bank Deals Blog: Checking & Reward Checking Deals

In these uncertain times, the natural instinct is to find something you can control. In the case of DA readers, that translates into finding the best rate possible, along with a rate guarantee. Normally, that would be a CD, but the current CD rates are far from optimal, and the rates are falling. A good alternative is needed.

It’s no secret that I’ve been a proponent of Reward Checking...

In an effort to help its members during the COVID-19 pandemic, Lake Michigan Credit Union (LMCU) is extending special loan offers and changing normal policies, including waiving the monthly qualifying requirements for the Max Checking Account.

The Max Checking account currently earns 3.00% APY on qualifying balances up to $15k, with qualifying balances over $15k and non-qualifying balances not earning any interest. This account has a...

Solvay Bank’s High Interest Checking Special has a dynamic combination of features not usually offered on a Rewards Checking Account (RCA): a competitive 4.00% APY (on qualify balances up to $15k) coupled with a one-year rate guarantee. Qualifying balances greater than $15k earn 0.10% APY, with non-qualifying balances earning 0.05% APY.

Minnesota-based Ideal Credit Union (Ideal CU) is offering a limited-time special APY on its rewards checking account. Now through June 30, 2020, the High Yield Checking account will earn 4.00% APY on qualifying balances up to $20k. On July 1, 2020, the rate will revert to 2.00% APY on qualifying balances up to $20k. Both qualifying balances over $20k and non-qualifying balances earn 0.05%...

ASE Credit Union’s (ASE CU) Kasasa Cash Checking account currently earns 4.07% APY on qualifying balances up to $30k. Qualifying balances greater than $30k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.

The qualification requirements include,.

• At least 12 POS debit card purchases per month.
• At least one Direct Deposit or ACH transaction per month.
• Be enrolled in and review eStatements.

The Kasasa Cash Checking account has no minimum balance requirement...

In the past 48 hours, a variety of rate changes have had an impact on this week’s CD Rates Summary. Following the 30 bps rate decrease on Veridian Credit Union’s 12-month Jumbo CD Special, Partner Colorado Credit Union’s 12-month Jumbo CD (2.10% APY) is nearing the top of the nationally available one-year CD category. The minimum opening deposit is $100k, with no stated balance cap. The 12-month is also available as...

As I’ve stated in the recent past, a rewards checking account (RCA) with a great rate may be a safe haven for funds as CD, Money Market, and Savings account rates try to stabilize and define the new normal. Western Vista Federal Credit Union's (Western Vista) new rewards checking account, Panorama Checking, earns 4.00% APY on qualifying balances up...

Illinois-based Scott Credit Union (SCU) recently introduced its EPIC Checking, a rewards checking account that offers tiered APYs. Qualifying balances up to $25k can earn either 4.05% APY (Upper Tier) or 3.05% APY (Middle Tier). Qualifying balances over $25k and non-qualifying balances both earn 0.25% APY.

There are only two qualifying requirements: receiving monthly statements electronically,...

Given the current climate of rate cuts, I have to admit when I saw the newly increased APY for the Platinum Checking account offered by New Jersey-based Garden Savings Federal Credit Union (Garden Savings), I assumed it was an error. Actually, my assumption was wrong: with the addition of 75 bps, the Platinum Checking account now earns 3.00% APY on qualifying balances up to $15k. (It's great to...

Arkansas-based Peoples Bank is currently offering a very competitive Kasasa Cash Checking account, which earns 5.12% APY on qualifying balances up to $15k. According to the bank's Kasasa page, balances over $15k earn between 5.12% APY to 0.89% APY, depending on balance in account. (My best estimate is that translates to an approximate 0.25% rate on the portion of the balance over $15k.) Non-qualifying balances...