Saturday, April 4, 2009

Credit Unions and the High Interest you can Earn!

Ooooohhhhh.....how I love my High Interest Checking Account. I do! I mean, seriously, we all have checking accounts....my husband and I included. Unless you plan to stash all your money under your mattress ( hhhhmmmm...may not be a bad idea in this economy ), you will need a checking account.

So, why not get paid to have your checking. These High Interest Accounts often have even better benefits than your normal brick and mortar banks.

For example, the bank I am with now allows us to use on ATM card at ANY bank with no fees. But, the kicker, they reimburse us the fees that bank charges.

My local brick and mortar bank, on the other hand, charges me if I use an ATM besides theirs PLUS I get charged by that bank for using their ATM. What a rip off!

Recently, I have noticed some Credit Unions offering very high interest rates. Considering the rates at all banks have been dropping drastically recently, these deals are very interesting to me. The bank I am with now has fallen just below 2%, which seems to be the norm for these national banks.

So, a local credit union caught my eye just a few weeks ago.

CINCO Credit Union
  • Open a WePayU Checking account
  • No monthly fee or minimum balance required
  • Earn 4.01% Interest on balances up to $24,999
  • Reimburse you up to $20 in other Bank's ATM fees
  • Must have 12 Debit Card transactions a month
  • Direct deposit required
  • E-statements only

Click here to read all the details. My understanding is you must be from the Cincinnati or surrounding areas to take part in this account. But, feel free to call and double check to see if you are eligible.

Not from Southern Ohio? Make sure to find a High Interest Checking option for you....you really should be earning this extra money. Bank of Internet is offering 1.3% right now to everyone.

Last year, my husband and I earned $760 from our checking, and this year we are up to $136 so far. Believe me, this is a great way to get free money.



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5 comments:

Kim said...

Here is a link for High Interest Checking accounts all over the country! I found this list about a month ago and switched from 0% interest to 5.01% interest. The account I picked has only 3 requirements. One direct deposit a month (was doing anyways) 10 debit transactions (was doing anyway) and statement via email! That's it! It is a free acount and they reimburse ALL ATM fees charged! It is an awesome deal. The only thing that would cost money is the checks and I haven't bothered with those yet. High Interest Checking is definitly an easy way to earn free money. Kim S

Donna@www.frugaldonna.blogspot.com said...

Thanks for the info in checking accounts with high interest. I knew about this but have never checked into it locally...will do it for sure. Why not earn extra money!

esha said...

Kim,
what is the link to the list of high interest checking accounts?

Kim said...

http://www.highyieldcheckingdeals.com/2008/03/high-yield-reward-checking-accounts-by.html

So sorry about that! Got so excited about my comment I forgot to put in the link!

Andrea @ Mommy Snacks.net said...

Thanks, Carrie! I'm definitely going to look into this bank! If you are opening one too we could always carpool down together LOL!

 
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