2.25% Reward Checking Account at a Florida Panhandle CU (Tyndall) read and submit comments for this post

Update 5/31/09: The top yield has fallen to 2.25% APY. Refer to the bottom of the post for the rate history.

Tyndall Federal Credit Union has started a reward checking account it calls e-Checking that pays 2.25% APY on balances up to $50K (0.25% above) and refunds up to $15/month of ATM fees if the following monthly requirements are met: 1) 15 check card transactions, 2) direct deposit or one automatic debit, and 3) enrollment in Internet Banking and in e-Statements. If these requirements are not met, the rate falls to 0.25%. The e-Checking has no minimum balance requirements.

On the plus side, this reward checking has an above average cap of $50K, but on the downside, it requires 5 more monthly debit card transactions over the average reward checking account.

Field of membership includes those who live, work, worship or attend school in one of the Florida Panhandle counties of Gulf, Walton, Jackson, Bay, Okaloosa, Franklin, Calhoun, Holmes, or Washington Counties. You also can be eligible via Select Employer Groups. See this FOM page for more details. Membership requires a $1 membership fee and a minimum deposit of $5 into the share savings account.

Branches are located Lynn Haven, Marianna, Mary Esther, Panama City and Port St. Joe. The credit union is federally insured by the NCUA (Charter # 10754). It has $781.5 million in assets and 98,167 members.

Other Reward Checking Accounts

For other reward checking accounts in other parts of the country, please see my reward checking account page and my best checking account post.

Rate History:
05/20/09: 2.25% APY up to $50K
03/29/09: 2.50% APY up to $50K
02/04/09: 3.00% APY up to $50K; 0.25% over $50K; 0.25% if requirements not met
12/28/08: 3.50% APY
06/12/08: 4.00% APY
05/10/08: 3.00% APY
08/19/07: 6.00% APY up to $50K; 0.35% over $50K; 0.35% if requirements not met