Offer at a glance
- Interest Rate: 4% APYÂ
- Minimum Balance: None
- Maximum Balance: $10,000
- Availability: Must live, work, worship in Allegan, Barry, Clinton, Eaton, Ingham, Ionia, Kent, Livingston, Newaygo, Ottawa, Shiawassee counties in Michigan or be related to somebody who is already a member.
- Direct deposit required: Yes, at least $100
- Additional requirements: Yes, see below
- Hard/soft pull: HardÂ
- Credit card funding: Up to $2,500
- Monthly fees: None
- Insured: NCUA
The Offer
- Adventure Credit Union offer a 4% APY rewards checking account (called Edge Checking). To receive the 4% rate you need to meet the following requirements:
- Set up a direct deposit of at least $100
- Complete 20 or more debit card transactions, signature and/or PIN
- Receive eStatements
- Log into Online or Mobile Banking at least once
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
This account has no monthly fees, even if you don’t meet the 4% APY requirements.
Our Verdict
Assuming this is a soft pull, this is a very good offer if you can meet the bonus requirements. I don’t mind requirements like direct deposit/debit transactions as they are fairly easy to automate but I find remembering to log into online banking a pain. I guess the upside to this account is that it has no monthly fees, so if you do decide to move funds for a month or two for a savings account bonus you’re not penalized.
I do love the fact that it has a $10,000 limit, most of the high APY checking accounts have a $5,000 or lower limit so this is nicer for those with bigger balances. We will be adding this account to our list of the best regional high APY accounts.
