The Sunshine State has been swamped by a bad economy, but floridacentral Credit Union offers residents a ray of good news with its high-yield checking account that outshines the best nationally available deal.
The Tampa-based credit union is paying 4.50% APY on its Ultimate Checking account for balances of up to $15,000.
That tops the best nationally available deal of 4.11% APY for balances up to $10,000 at Liberty National Bank of Lawton, Okla.
The account carries no fees and has no minimum balance requirements.
But to get the top rate you must make 12 check card transactions per month, make one recurring direct deposit or automatic debit, and sign up for eStatements.
If you don’t meet the requirements, the APY falls to 0.10% for the month. Credit union membership is open to anyone who lives or works in the Central Florida counties of Pasco, Hillsborough, Pinellas, Polk, Manatee, Sarasota, Charlotte or Lake. You can also join if you’re a Florida resident and one of your immediate relatives is a member.
If you’re not quite sure how high-yield checking accounts work, The ABCs of High-Yield Checking Accounts lays out the general rules.
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