Finex CU in East Hartford, Connecticut, offers Rewards Checking, with a well below-average annual percentage yield, but the APY can be higher if the account holder has a loan relationship. Bankrate’s 2016 High-Yield Checking Survey breaks down the returns you can get with each account and the hoops you’ll have to jump through to get them.

Finex CU
Notes: Rewards Checking: Available to residents of Hartfort and Tolland counties in Connecticut. *Either 1 direct deposit or online bill payment is required per month. E-statements required. 1.51% APY for CU members with loan relationship. Monthly fee: $10 if requirements aren’t met. Balance above $25,000 yields 0.1% for both relationship and non-relationship accounts, if requirements are met. ATM refund: Up to $3 per item, $15 per cycle, if requirements are met. Bill Pay: $3 per month if not used.
Location East Hartford, CT
Is it offered nationwide? No
APY % 0.501%
Default APY 0.05%
Number of monthly debit transactions required 12
Is bill pay or automatic withdrawal required? Yes*
Direct deposit required? Yes*
E-statements required? Yes
Balance cap $25,000
APY above cap 0.1%

*See notes section for more details.

Bankrate.com canvassed banks, thrifts and credit unions Feb. 16-22, 2016, and displays data on 56 high-yield checking accounts.

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