Earn 3.0% APY with this Del-One Federal Credit Union Account

September 28, 2011 1 Comment »

What type of bank account pumps out 3.0% returns in this bleak savers market? It’s not a bank CD nor a money market account, but rather a “Better Life Checking” account (or more commonly referred to as a rewards checking account).

Like most rewards checking accounts, you can only earn the rate on balances up to a certain threshold. In this case the amount is $25,000. Amounts exceeding that amount will still earn an interest rate albeit a significantly lower one.

Currently, Del-One Federal Credit Union, based out of Wilmington, Delaware, is providing this promotional checking account (which also comes with free checking) to it’s members that can meet 3 monthly qualifications. Compare that to the best CD rates in Delaware.

Here are the requirements…

1) Log-in to their online banking to receive free e-statements.

2) maintain 10 debit transactions per month. Any transaction conducted with your debit card other than cash withdrawals qualify as one debit transaction.

3) Establish at least 1 direct deposit per month. This can be a pay check deposit, social security deposit or regular wire transfer from another account.

Important terms and conditions regarding this account:

- ATM transactions are credited up to $25 per month. Therefor if you use another bank’s ATM which charges $2 per withdrawal, you’ll be able to conduct up to 12 of these per month before needing to pay out of pocket for using the ATM.

- You need to stop by one of Del-One Federal Credit Union’s 7 branches within the state of Delaware. This account cannot be opened online.

Del One Credit Union Membership:

In order to join Del One you have to contribute to the Del-One foundation. Fortunately, it only takes a minimum contribution of $12 and anyone in Delaware is automatically eligible to join.

Del-One is federally insured by the NCUA up to $250,000. ( NCUA # 13919)

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  • Deeeeep South

    Southern Bank in Missouri and Arkansas has one of these accounts with a 5.01% APY up to $15,000. You need to make 12 debit transactions and meet a couple other requirements