2014 high-yield checking: 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? Y||APY: 1.01%||APY if conditions not met: 0.05%||Monthly debit transactions required: 12||Bill pay or automatic withdrawal required? Y*||Direct deposit required? Y*||Balance cap: $15,000|
- 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.