[MO, IL only] Scott Credit Union – Up To 3.05% APY On Balances Up To $25,000

Update: They also have a St. Louis Blues checking account with the same 3.0% APY rate on balances up to $25,000. I assume you can have the EPIC & St. Louis Blues account. Hat tip to curmudgeon

Offer at a glance

  • Interest Rate: Up to 3.05%
  • Minimum Balance: None
  • Maximum Balance: $25,000
  • Availability: Must live in a select county in MO/IL. They seem to be areas around St Louis
  • Direct deposit required: None
  • Additional requirements: Debit card purchases, see below
  • Hard/soft pull: Hard pull
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: None
  • Insured: NCUA

The Offer

Direct link to offer

  • Scott Credit Union is offering 2.05-3.05% APY on balances up to $25,000.  To receive these rates you need to receive eStatements and:
    • For 2.05% APY rate you need to use your debit card to make between $750 and $1,499 in purchases
    • For 3.05% APY rate you need to use your debit card to make $1,500+ in purchases


Avoiding Fees

This account has no monthly fees to worry about.

Our Verdict

The downside to this account is obviously the debit card requirement, if you put that $1,500 spend onto a 2% card you’d be earning an additional $30 a month. That also doesn’t take into account things like meeting minimum spend requirements which give an even better return. Although if you had $25,000 in this account earning 4.05% APY you’d earn be earning ~$84.37 a month compared to $52 a month in a 2.5% APY account so it’s fairly comparable. That being said often it’s possible to make purchases using a debit card that you can’t do using a credit card, in cases like that this product could be very useful. This could be an interesting high yield product for some people. As always please share your experiences in the comments below.

Hat tip to Adam L


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I’ll wait for a deal from Eric Credit Union lol


William Charles Rates have dropped to 2.05% / 3.05% now. 🙁


well no COOK county.

Adam L
Adam L

Both Cash App and Venmo work to meet the $1500 purchase requirement.


Happy DP: Venmo payment via debit card to spouse’s account qualified for the needed debit transaction. So, each month I’ll Venmo over $1500 then put it right back into the account and get the 4% rate without paying any fees or using regular spending.


So If I already have this account and I would add 20,000 to this account would I qualify for the higher interest rate, Or do I have to close one account and open a new one to get the better rate?


I just signed up for an account. I don’t live in St. Louis area, but it looked like living in nearly all the counties in Missouri qualifies for membership.

Max EFT to open account is $100.00. No CC funding.

I opted out of the overdraft protection, so maybe it won’t be a hard pull. If that’s successful, I’ll update here.

Once the account is set up, I’m going to try using Venmo to send $1500 to my wife’s account and see if that triggers the 4% rate. If so, I’ll just shuffle the money around each month. If not, I guess I can buy a couple of money orders at WalMart to meet the spend requirement.

Doesn’t look like instant approval, but said my application had been submitted. I’m guessing there’s a manual review before actually opening the account.


Update on application:
-hard pull from Trans Union
-got an email saying I didn’t qualify due to not living in St Louis area
-responded to email saying I have customers in St Louis and regularly work there. They asked for zip codes for my customers.
-Having work in the St. Louis area was sufficient for membership, so account approved and new account docs sent

It’s a bit disappointing that they pulled my credit before making the determination of eligibility. You’d think they would make that call first – otherwise what’s the point of pulling credit for someone outside your service area?


it’s definitely a hard pull. I used to have them as my main bank. Their website used to be from the soviet union era. I hope it has improved since then.


no, CC funding. ACH only, minimum opening deposit is $5 for the share account, and $1 for the Epic Checking

Adam L
Adam L

No CC funding.

Also possible to join if you’re an immediate family member of a current account holder.

I’ll look at my Chex report after the account is established.