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2014 high-yield checking: First New England FCU

Checking » High-Yield Checking » Credit Unions » First New England FCU

First New England Federal Credit Union in East Hartford, Connecticut, offers Rewards Checking, with a slightly below-average annual percentage yield, but the APY can be higher if the account holder has a loan relationship. Bankrate's 2014 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.

First New England FCU

Location: East Hartford, CT

Nationally offered?APYAPY if conditions not metMonthly debit transactions requiredBill pay or automatic withdrawal required?Direct deposit required?Balance cap
Nationally offered? YAPY: 1.01%APY if conditions not met: 0.05%Monthly debit transactions required: 12Bill pay or automatic withdrawal required? Y*Direct deposit required? Y*Balance cap: $15,000

Notes:

  • Rewards Checking: Available nationally; $10 donation to a charity for out-of-area accounts.
  • Either one direct deposit or auto debit, and e-statements are required monthly.
  • A 2.01% APY for credit union members with a loan relationship.
  • Balance above $15,000 yields 0.10% for both relationship and non-relationship accounts, if qualifications are met.
  • ATM refund: Up to $3 per item, $15 per cycle, if requirements are met.
  • A $3-per-month fee is levied if bill pay is not used.

*See notes section for more details.

Bankrate.com canvassed banks, thrifts and credit unions March 10-13 and reports data on 56 high-yield checking accounts offered by 54 institutions.

 

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