Signature FCU Rewards Checking 1.5% APY on up to $20,000 [Nationwide]

Update 8/23/21: Rate is now 1.5% (down from 2%)

Update 9/10/19: They’ve now increased the upper limit from $15k to $20k. (ht Frito)

Offer at a glance

  • Interest Rate: 3% APY
  • Minimum Balance: None
  • Maximum Balance: $15,000 $20,000
  • Availability: Nationwide
  • Direct deposit required: Yes, $1,000
  • Additional requirements: 10 debit card purchases and e-statements
  • Hard/soft pull: Soft (1 report of hard pull)
  • Credit card funding: $2,000
  • Monthly fees: None
  • Insured: NCUA
  • Expiration date: None listed

The Offer

Direct Link

  • Signature FCU Choice Checking offers 3% APY on balances up to $15,000 when meeting the qualifying activities:
    • Have direct deposit totaling $1,000 or more into your account per month
    • Enroll in Signature e-statements
    • Use your debit card at least 10 times per month for purchases in person or online

Be sure to select the Choice Checking option when signing up. With this account, you can choose one of three benefits: 3% APY, ATM fee waiver, and debit card rewards. We’re focusing on the 3% APY option in this post.

The Fine Print

  • Limit one account per person.
  • High Yield has certain requirements that must be met: The debit card must be used at least 10 times and there must be a total of $1,000 being directly deposited into the account each month. The member must be enrolled in e-statements and can only have one Choice Checking per account. If any of the requirements are not met, the account will earn the standard checking account rate for that month.
  • Balances above $15,000 earn the standard checking APY while balances below $15,000 will earn the High Yield APY.
  • You can even create a personalized design on your Visa debit card to make it stand out in your wallet, and when you pay.
  •  No minimum balance requirement

Avoiding Fees

There aren’t any monthly fees on this account.

Geographic Availability

Signature FCU is available for all to join by enrolling into American Consumer Council for free.

“Still need another way to join? By selecting this option Signature FCU will enroll you into American Consumer Council (ACC), at no cost to you, therefore making you eligible for membership.”

Our Verdict

It seems that this will be a soft pull, has $500 in credit card funding (we still need data points on cash advance), and ACH-transfers count as direct deposit. This is another solid nationwide 3% APY option on up to $15k, similar to Evansville, LMCU, and GLCU. We’ll add this one to our list of Best High-Yield Savings Accounts.

Hat tip to Depositaccounts

154
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
Tony
Tony

Down to 1%…

Ava
Ava

William Charles only 1.5% now

Tony
Tony

Yep, 1.5% now. 2% did not last long.

Matthew
Matthew

Rate has dropped to 1.5% APY FYI

Şukriye Anaëlle
Şukriye Anaëlle

aw thought it would keep at 2% 🙁 time to move funds over to Elements CU

Natalia Vodianova
Natalia Vodianova

Matthew are there any better options above 1.5% right now?

HoKo
HoKo

William Charles rate has dropped to 2% FYI

Peter
Peter
Eric
Eric

Now I feel better about them rejecting me a few months ago.

John
John

Was wondering why my interest this month seemed lower. Disappointing but not suprising, they’ve held onto that 3% a lot longer than other banks. Will probably continue my account with them since it’s 1% higher than my savings accounts.

Covid warrior
Covid warrior

👎

Jory
Jory

Does this need a TRUE direct deposit? 😉

Johnz
Johnz

Does not need payroll DD. My experience is any DDs that total at least $1000/month satisfy the DD requirement.

Jory
Jory

So ACH transfer from another bank is OK?

Johnz
Johnz

yes, is OK.

Rocky
Rocky

Can people who opened recently confirm if its a “soft” pull and $2K credit card funding?

poppy2
poppy2

Soft Pull with Equifax
I think the credit card funding was $500, but I did not fund with credit card so can’t be sure.

Rocky
Rocky

Thank you.

Thomas
Thomas

Hard pull on equifax

John
John

Is there a minimum amount for the 10 transactions needed. Can I do 10 $0.50 transactions from Amazon?

Peter
Peter

Yes, I do that pretty much monthly.

Eric
Eric

William Charles, I would add a note in the post that they are Chex sensitive as that is why I was declined. That was a waste of a Chex and hard inquiry.

William Charles

How many in the last 12/24 months?

Eric
Eric

I’m not sure how many I’ve had as I don’t keep track. They implied they want very few when I followed up with them.

Thomas
Thomas

Itsa hard pull

William Charles

Did you open it?

Thomas
Thomas

No, but I did email with a representative. They guaranteed it was a HP. I will be opening soon and will report back which agency.

John
John

Which report?

AD
AD

i opened recently and it was a soft pull with 2k cc funding

Tom
Tom

Are you sure its a soft pull? Lot of people say its a hard pull.

Thomas
Thomas

Hard pull for me on equifax