Midwest America Federal Credit Union has some astounding savings rates which became effective 3/1/09.  Currently, with their Rewards Checking Accounts, you can earn 5.11% APY on all balances up to $25,000 (1.50% APY on all balances above $25k). The national average for interest checking account rates sits at around 1.0% APY.

There is no minimum balance required to open one of these accounts and you’re interest is compounded monthly as is the dividend period.

5.11% APY Checking through MAF Credit Union

To Obtain the featured interest rate you must do the following…

• make 10 cleared MidWest America debit card purchase transactions on your MidWest Reward Checking Account per “qualification cycle”
• receive your monthly statements electronically through CU Anywhere
• set-up one direct deposit or one auto debit monthly to MidWest Reward Checking

Also note that before qualifying you must fill out the “Truth-in Savings disclosure form”

You may find local branches within various counties of Indiana, Illinois and Kentucky.

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