Hey guys,
I've followed WCI's advice for a while as a medical student and resident, and I finally signed up on the forum to share what I think is a great account. No interests to disclose other than being a happy customer.
Consumer's Credit Union, based in IL, currently has a rewards checking account that offers a maximal interest rate of 4.59% on up to $20k. I signed up for this account back in August, received my initial dividend auto-deposit on 9/30, and since then have earned $296.19 while building up my E fund. Free money, and I haven't had trouble meeting the requirements thus far. You have to use both their debit and credit cards and meet some transaction thresholds.
https://www.myconsumers.org/personal/checking/free-rewards-checking
Here's the details of the account:
I've consecutively earned 4.59% since September by making this my primary account and paying bills, buying groceries, shopping, buying gas, etc. on the CCU Visa card right up to the $1k mark. After that I switch to my AmEx Blue Cash Preferred card for more rewards.
The online system is pretty nice. I pay several bills, including the AmEx card, via their online bill pay, so that requirement is easy enough. You can fund the account with an initial transaction that's as large as you like; after that, they limit transactions into the account to $2500. They also participate in "shared branching" and forgive all ATM fees if you meet the minimum 3.09% requirement. Also, at my local credit union on the shared branching network, I can withdraw all funds from this account if I wish (allegedly). If you miss the minimum requirements, you don't get ATM fees refunded, and the APY drops to 0.01% for that month.
I've had zero issues with this account and think it's a pretty great spot to place you emergency fund. I've been using it as a regular checking account and keeping a high balance to protect my E funds. What do y'all think?
I've followed WCI's advice for a while as a medical student and resident, and I finally signed up on the forum to share what I think is a great account. No interests to disclose other than being a happy customer.
Consumer's Credit Union, based in IL, currently has a rewards checking account that offers a maximal interest rate of 4.59% on up to $20k. I signed up for this account back in August, received my initial dividend auto-deposit on 9/30, and since then have earned $296.19 while building up my E fund. Free money, and I haven't had trouble meeting the requirements thus far. You have to use both their debit and credit cards and meet some transaction thresholds.
https://www.myconsumers.org/personal/checking/free-rewards-checking
Here's the details of the account:
- 3.09% APY up to $10,000 by 1.) complete 12 POS debit transactions, made without using your PIN, monthy; 2.) During each calendar month, complete 1 direct deposit OR 1 ACH debit OR 1 online bill pay; 3.) Access your online banking account 1x/month; 4.) enroll in eDocuments
- 3.59% APY up to $15,000 by 1.) Completing the above; 2.) spend $500 on a Consumers Credit Union Visa credit card
- 4.59% APY up to $20,000 by 1.) Completing the above; 2.) spend $1000 on a Consumers Credit Union Visa credit card
- No account fees, no minimum balance, all ATM fees reimbursed. If you don't meet requirements
I've consecutively earned 4.59% since September by making this my primary account and paying bills, buying groceries, shopping, buying gas, etc. on the CCU Visa card right up to the $1k mark. After that I switch to my AmEx Blue Cash Preferred card for more rewards.
The online system is pretty nice. I pay several bills, including the AmEx card, via their online bill pay, so that requirement is easy enough. You can fund the account with an initial transaction that's as large as you like; after that, they limit transactions into the account to $2500. They also participate in "shared branching" and forgive all ATM fees if you meet the minimum 3.09% requirement. Also, at my local credit union on the shared branching network, I can withdraw all funds from this account if I wish (allegedly). If you miss the minimum requirements, you don't get ATM fees refunded, and the APY drops to 0.01% for that month.
I've had zero issues with this account and think it's a pretty great spot to place you emergency fund. I've been using it as a regular checking account and keeping a high balance to protect my E funds. What do y'all think?
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