Get 4.09% APY on a Checking Account with Consumers Credit Union

Looking for a checking account that offers high interest? Consumers Credit Union is offering a high interest of 4.09% APY on their Free Checking Account. An interest rate as high as that is difficult to come by, even with long term certificates of deposit. So for those who want to take advantage of high interest on their regular checking account, here are the details of the promotion:

The Promotion

The 4.09% Interest is available today until June 30, 2012. Aside from this generous rate, you also won’t have to worry about paying any administrative or ATM fees. Below is the list of their available rates and tiers:

* 4.09% APY for accounts with a maximum of $10,000 that meet qualification requirements.
* 0.56% APY for deposits between $10,000 and $25,000 that meet qualification requirements.
* 0.35% APY* for balances over $25,000.00 that meet qualification requirements.
* 0.01% APY* for members whose qualification requirements are not met.

It seems that the better rates are only given to those who satisfy their requirements. So what exactly are these?

The Requirements:

* completion of 12 debit/check point of sale purchases without using your PIN
* one direct deposit, one pay one bill or ACH debit with the use of Consumer Credit Union’s free online billing system
* use of online banking at least once every month
* enrolling in online eStatements

If it happens that you can’t meet all four requirements stated above, you may still avail of free online banking and free online bills payment.

Benefits Of Free Checking:

Even if you can’t comply with all the requirements, there are a lot of good things that Free Checking can offer you. First, there is no minimum balance required and no ATM fees. You also get to have a free Visa Debit Card, free mobile banking, free online banking and bills payment, and free eStatements. Plus you also get unlimited check writing. Overdraft privileges are also offered protecting you from overdraft charges.

Who Can Apply?

Anyone can apply for this free checking account. Even those who already have accounts with Consumers Credit Union. Non members may also join by paying a one-time fee of only $5.

About Consumer Credit Union

The credit union is located in Lake County, Illinois and has no membership requirements. It was established back in 1930 and is also insured by the NCUA.

For those who are still looking for a great free checking account, then now may be the time to get one especially with the incredibly high interest rate they offer. The sooner you apply, the more time your money can grow.

The Good Ones: Banks Who Still Offer Free Checking

With the sudden barrage of debit card fees and the plummeting interest rates, consumers are wondering if all banks are going downhill. Luckily for us, there are still some banks who are sticking to their free checking promotions, and who continue to offer great rates. For those of you who want to transfer banks, but are unsure about joining a credit union, here are some banks that may be worth your while:

1. Ally Bank – This bank has been around for a long time, with over 90 years of experience. It has been dubbed as one of the best banks in 2011 by Money Magazine and it serves over 15 million customers nationwide. Ally still offers a free checking account with no monthly maintenance fees for the everyday management of your checking account. Ally also offers competitive CD rates and is often one of the top providers of the best CD rates. They also give out interesting promotions such as the Raise your Rate CD and the No Penalty CD.

2. Classic Bank -For the regular checking account, Classic Bank advertises a monthly fee of $7.50 for its checking account. However, this only applies should your balance fall below $750. Aside from that, Classic Bank also offers a totally free checking account with absolutely no minimum balance and no monthly fees. If that’s not enough, Classic Bank is also giving away a rewards checking with a whopping 3.01% APY. How’s that for high interest?

3. Incredible Bank – This bank was featured by CNN as the one of the top online banks because of its high yield checking and no ATM fees. Right now the checking account can offer a yield of as much as 1.06% APY on balances up to $249,000.

4. PNC Bank – Although PNC Bank is best known for its student loans and mortgages, it also offers a free checking account which can be rare nowadays. PNC Bank offers free ATM transactions, no monthly service charge, free online banking and bills payment, plus unlimited check writing. Also, there is no minimum monthly requirement to keep your account free.

These are only some of the banks who still offer totally free checking accounts and high interest rates. For sure there are more banks out there who may have better deals to offer. If your bank is offering a great rate or charges less in fees, feel free to share by commenting below.