[WI, IL only] Landmark Credit Union 7.50% APY High Rate Account Review – Balances Of Up To $500

Offer at a glance

  • APY: Up to 7.50% APY on balances up to $500 when you meet the requirements
  • Availability: Southern Wisconsin and Northeastern Illinois only
  • Direct deposit required: Recurring monthly direct deposit of at least $250
  • Additional requirements: Enroll in eStatements
  • Hard/soft pull: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Early account termination fee: $100, 90 days
  • Expiration date: None listed

premium-checking

Landmark Credit Union offers a premium checking account offers a rate of 7.50% on balances up to $500. To receive this rate you must do the following:

  • Be enrolled in eStatements
  • Direct a direct deposit of at least $250 per month

On balances over $500 you’ll only earn 0.20% APY. There is also a $100 bonus for opening the account, but unfortunately this looks to be targeted as you need a promotional code.

Our Verdict

7.50% rate makes it sound amazing, but when you realize that’s only a little over $3 in interest a month your enthusiasm will quickly be killed. There are much better high interest savings accounts out there. If you could get the $100 sign up bonus as well then maybe this would be a little bit more interesting, but as it stands this is an easy pass for everybody.

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Road Dog
Road Dog

I just had to create a checking/savings account with Landmark to become a member and be eligible to get a mortgage with them (as they will be my loan servicer). I can confirm that there is no hard pull for this Premium Checking Account (the one that gives 7.5% APY). Just a soft inquiry. They did require that I open the savings along with the checking, which needs to have a minimum balance of $5. Since I opened in-branch, we didn’t have any CC funding options (and just wrote them a check from an outside bank).

To earn the high APY on the checking balance, you need to “direct deposit” $250/month, but their fine print says “ACH transfer $250/month”. I’ll report back in a month if my push from Ally counted (which would be great, as I’ll just set up auto push/pull and collect the $3.12 of interest each month).

Road Dog
Road Dog

Looks like their dividends payout on the 1st of the month. This means my ACH push from Ally did count as a qualifying DD.

mahesh
mahesh

can you send referral link?

Dayn_Perrys_Vape
Dayn_Perrys_Vape

Only a very small part of Illinois is eligible – Lake and McHenry counties only.

FindingMyPossible
FindingMyPossible

Credit card funding for V/M/D up to $500 per account.

Allie
Allie

@rd If you could share the link, it’d be appreciated.

I have LCU. I’m pretty sure they did a soft pull. Really easy to apply, and I learned I have a branch less than 5 minutes away from me! Great so far! 🙂 If anyone needs a referral link, reply to my post.

Jase Doe
Jase Doe

Can I get your referral link?

Levi
Levi

Can I get a referral link?

mahesh
mahesh

can i get referral link?

rd
rd

If someone is genuinely interested in this for some reason, Citi has a 10% promo on up to $500 as well. I’ve seen this publicly advertised on the Citi branch on Market St, San Francisco.

J.
J.

Looks like the banks are even putting out clickbait.

Dan
Dan

who would even bother with $500…