Published on October 12th, 2018 | by William Charles92
[TN, MS, AR] Orion Federal Credit Union Premium Checking 4% APY On Balances Up To $30,000 (DD Not Required)
Offer at a glance
- Interest Rate: 4% APY
- Minimum Balance: None
- Maximum Balance: $30,000
- Availability: I believe you need to be a resident of Shelby, Tipton, and Fayette Counties in Tennessee or Desoto and Marshall Counties in Mississippi or Crittendon and Mississippi Counties in Arkansas.
- Direct deposit required: No, just total deposits of $500+
- Additional requirements: 8 signature based transactions
- Hard/soft pull: Hard pull (equifax)
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: Avoidable
- Insured: NCUA
- Orion offers the Premium Checking Account this account offers a 4% APY on balances up to $30,000 when the following requirements are met:
- Electronic deposits totaling at least $500/mo
- Perform at least 8 signature-based card transactions
The Fine Print
- (1) Deposit at least $500 electronically (direct deposit, ATM deposit, or transfer from another institution) and
- (2) Perform at least 8 signature-based debit card transactions.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
This account has a $5 monthly fee. If you meet the requirements for the 4% APY then the monthly fee is also waived.
Great account, easy to meet requirements and a 4% APY rate with such a high maximum balance is basically unheard of. If you live in a qualifying area then it’s definitely worth at least considering. Now the game of trying to work out how to open an account outside of that area begins.
Hat tip to reader Ash