University of Iowa Community Credit Union

University of Iowa Community Credit Union has a Rewards Checking with a 4.25 percent annual percentage yield (APY) on balances up to $25,000. That’s one of the more competitive interest rates out there and is current as of March 1, 2011. Details of the checking account offer include:

• $50 minimum deposit to open
• No minimum balance required
• Free online banking with bill pay
• Free e-statements, which are required
• Free mobile and text banking
• Overdraft protection is available
• Free check card with zero liability protection
• Insured up to $250,000 by the National Credit Union Administration

Checking account balances over $25,000 earn 0.25 percent APY. If the requirements for the checking account are not met, the interest rate falls to 0.1 percent APY.

The checking account also has free use of ATMs nationwide. ATM fees will be refunded if the following requirements of the account are met: 12 or more qualifying debit card transactions averaging at least $5 must post to the account (excluding ATM and pin-based transactions) and one ACH/direct deposit of a minimum of $100 each month. Not meeting the requirements results in a $1 fee for each PIN-based transaction at ATMs that are not owned by the University of Iowa Community Credit Union.

The credit union serves nearly 80,000 members who are alumni or related to alumni of the University of Iowa, as well as residents and employees in various counties in the state.

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