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 2015 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 Federal Credit Union

Location: East Hartford, CT

Nationally offered? Y
APY % 1.005
Default APY % 0.05
Monthly debit transactions required 12
Bill pay or automatic withdrawal required? Y*
Direct deposit required? Y*
E-statements required? Y
Balance cap $25,000
APY % above cap 0.1
Notes:

Rewards Checking: Available nationally. Either 1 direct deposit or online bill payment is required per month. E-statements required. 2.018% 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.

*See notes section for more details.

Bankrate.com canvassed banks, thrifts and credit unions from March 16 to March 25 and has displayed data on 56 high-yield checking accounts.

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