GrandDaughter of High Yield Accounts (A State-by-State listing of High APR accounts for locals)

Was rebuked for posting local deals in the Daughter of Mother of Deals, so here is our own GrandDaughter of Local deals. This contains a list of HY checking accounts (APR 5% and above) from local banks and credit unions. Many of them have funny restrictions, like 12 debit card transactions or DD.

This list may help the lucky few who qualify for them. There are some who'd like to bank local instead of putting all money in online savings bank.

Edit: Updated in the Quick Edit box

Here's one in California:

Star One CU
APR 5.00%
MoneyMarket - $50 minimum to open. Local to Santa Clara County, family of members and many companies that have national locations Membership

Also, if you are local and have coin...you can use their Coinstar machine free if you hold $5K or over in deposits.

Here is some info for Ohio

Third Federal Savings and Loan
High Yield Checking
* 4.50 APY (Annual Percentage Yield) on balances of $5,000 or more.
* Monthly service charge of $5 is waived if you maintain an average daily balance of $1,500 in your High Yield Checking account or $1,500 in total balances in all your Third Federal deposit accounts.
* Free debit card purchases with our Third Federal Debit Card. Make purchases everywhere Debit MasterCard® is accepted. You can also use the card to withdraw cash from your checking account at any Key Bank ATM.
* Write more checks than you could with a typical money market account.
* Use Online Banking to manage your High Yield Checking Account online.

Ohio Checking Rates as of Wednesday, April 11, 2007
$10 minimum to open
$5000+ 4.50%APY
$1500-$4999 1%APY
$10-$1499 0%APY

Third Federal also has very competitive CD and Saving Account rates (and good mortgage rates) and I have always been very happy with their customer service. They are also available in Florida, but I didn't check the rates.

Also for Ohio I usually keep an eye on Ohio Savings Bank, but that is usually for Money Market Accounts or CDs.

craig10x said: I like the kansas one (Equity Bank) wow gold checking because the 10 electronic transaction requirement to get the 6% rate and unlimited atm rebates, unlike most of the others, they can be ANY combination of things...like atm withdrawals, ach ins and outs, bill pays...etc...Only one catch: they won't let you open an account unless you live in Kansas....darn!

I think I might go ahead and do this. I've had it with my bank of 10 years and this rate is unbeatable.

Giddings, TX
First National Bank of Giddings
4.02% APY checking account upto $25,000
Need to use VISA check card 10/month

bankrupt said: Quick question from newbie-
Can my employer do direct deposit to one of these local banks if they are out of state?

That should not be a problem...the problem might be to find one of these banks that will allow depositors outside their area...

redindian said:
Kansas:
6.01%
- Equity Bank
-WOW Gold

Just called Equity Bank and they require that you come into a branch to complete the opening of the account.

Minimum of 10 electronic items per month are required.

Any rates for PA????

Missouri:
6.01%
- Equity Bank
-WOW GoldThey have a requirement of 10 "electronic transactions", but according to Bank Deals that includes ACH transfers in and out which makes this smoking hot. I may have to switch from BofA for this ...

wmozart5 said: All applicants must be (1) a U.S. Citizen or Permanent U.S. Resident; AND (2) a resident of Kansas or Missouri, or an existing Equity Bank customer to apply for a new account online.

"or an existing Equity Bank customer" Sounds like a loophole. So open up a CD with them first and your an existing customer? They probably still want you to come in to a branch.

mhesidence said: Giddings, TX
First National Bank of Giddings
4.02% APY checking account upto $25,000
Need to use VISA check card 10/month

thanks, but those are below online savings average.

redindian said:
thanks, but those are below online savings average.

5% is the lowest rate in thread "The Daughter of The Mother - Checking, Saving, and Money Market: All Liquid Accnt Interest Rates!" according to the rules of that thread there are five accounts with minimal requirements higher than 5%. That makes 5% a bit arbitrary.

Given most of these accounts require 10 debit card transaction one comes to this thread for higher rate than you can get from the Daughter/Mother thread (aka the 6% accounts) or for a checking account with a high rate. So a logical cut would be nothing lower than the best nationally avalible checking account with minimal requirements (Presidentail? at 4.5% unless you count brokerages with checking, then Fidelity around 5.17%) or nothing lower than the best account with minimal requirements in the Daughter/Mother thread about 5.25%.

Ridgestone Bank in Schaumburg, IL and Brookfield, WI.

5.5% APY MMA on balances over $40K. rate guaranteed until 12/31/07. check-writing!

Ridgestone Bankdeals link

I emailed them to ask about hard pulls, and they replied, "One point I would like to stress regarding our account. The account earns interest on collected funds. At the account opening, we run a Chex Systems and OFAC inquire. Ridgestone Bank does not run credit report customers looking to open an account."

I go thru Amtrust Bank to get higher rates, I live in Arizona, but I think you can do it from any state.
After I went thru the regular amtrust.com, I then found out about amtrustdirect.com, they pay even more, only difference is you HAVE to open amtrustdirect.com online ONLY. Anyway, in Arizona they pay 5.41% for 12 mos and min. 1,000 to open.

prastogi said: banner bank in Oregon.... is advertising 5.4% APR guaranteed in savings a/c for 12 months....in local newspapers "The Oregonian" for eg.

Havent checked them but it is a local thing as the website shows nothing. www.bannerbank.com

Anyone else has any other info? I will update soon if i can go there or call them.

That should be great. I will check it out.

Provident Credit Union, based in Northern California, is offering a new Premier Money Market Account which pays up to 5.5% APY. The catch? It's a tiered rate: the minimum $25,000 deposit earns 4.5% APY; a balance of at least $75,000 earns 5.0%; only a balance at or above $125,000 earns 5.5% APY. NCUA insurance only covers the first $100,000. Oh, and the Premier MMA requires a direct deposit or automatic transfer of $1,000 per month minimum to a Provident checking account from any source outside Provident.

If you are interested, you can join the CU online if you fit within 2100 different categories, and the basic share account is a minimum $25.00. they have a number of other offers which are a lot better than this MMA.

nm

DavidScubadiver said: I am not exactly certain what an "automatic" ACH Debit is, but I know I can have my chase accounts automatically pay the minimum balance every month so hopefully that'll count...

Just note that one needs to setup the automatic debit from Chase site, not from the bank Billpay site. Billpay does not count toward the automatic ACH debit. FYI.

Jackpot in Tennessee!!

6.25% APY (up to $50,000)
- 10 check card transactions
- one direct deposit or ACH auto debit (free bill pay with direct deposit)
- Reward Checking

via BD

updated in QuickEdit

Texas region:

Patriot Bank 5.2% APY Money Market
*Money Market accounts require $1,000 minimum to open. Money Market tiered annual percentage yields for balances are as follows: $0-9,999.99 is 1.00%; $10,000-$19,999.99 is 1.50%; $20,000 to $99,999.99 is 5.20%; $100,000 to $249,999.99 is 5.20%; $250,000 and over is 5.20%. APYs are applicable for consumer accounts only. APYs are variable and are accurate as of March 12, 2007, but subject to change without notice thereafter. See fee disclosure and account agreement for details. Fees may reduce earnings.

NuUnion Credit Union (formerly State Employees Credit Union) in Michigan has a good offer on their SoSmart checking accounts:

SoSMART™ Checking is completely online and makes your money easier than ever to manage:

* 6.01%APY Interest On Balances Up To $25,000*
* Nationwide ATM Fee Refunds Up To $25 Per Cycle*
* Free Internet Banking & Bill Payer
* Free Debit Card
* Unlimited Check Writing
* Overdraft Protection
* No Monthly Service Fee
* No Minimum Balance

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There are just three free and simple requirements* we ask for each cycle:

* Receive E-Statements (e-mail address required)
* One (1) Direct Deposit or Direct Payment (ACH)
* Fifteen (15) Debit Card Purchases (posted to account)
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Link