[NH,ME] Northeast Credit Union 2.5% Checking on up to $15,000

Update 4/3/20: Lowered to 2.5%

Offer at a glance

Interest Rate: 4.00% APY
Minimum Balance: $5,000
Maximum Balance: $15,000
Availability: NH, parts of Maine
Direct deposit required: Yes
Additional requirements: Yes, see below
Hard/soft pull: Soft pull
Credit card funding: Yes, up to $1,000 per account (e.g savings & checking = $2,000)
Monthly fees: Waived with $5k balance
Household limit: None mentioned
Insured: NCUA

Contents

1 The Offer
2 Credit Union Membership
3 Avoiding Fees
4 Our Verdict

The Offer

Direct Link to offer

Northeast Credit Union offers a 4% APY rate on their Elite Checking account on balances up to $15,000.

Note there is a minimum balance of $5,000 to be eligible for the 4% rate.

The following qualifications are necessary for the 4% rate and to waive the monthly fee:

Get a direct deposit
Signup for e-statements
Minimum of 20 debit purchases per month
Minimum average daily balance of $5,000

Credit Union Membership

The following people are eligible to become a member of Northeast Credit Union:

Live, work, worship, or attend school in New Hampshire or in Southern York county, Maine
Live within a 30-mile radius of a branch location
Have a family member who belongs to Northeast Credit Union
Work at one of over 75 affiliated companies

Avoiding Fees

Note that this account is different than most rewards checking in that it requires a $5,000 balance to waive the monthly fee. It’s mainly worth doing this deal if you’re sure you’ll have at least $5,000 in the account at all times to waive the fee.

Our Verdict

For those in the target area, this is one of the best high-interest account options since most alternatives have more difficult requirements or lower limits. Hopefully, there isn’t a hard pull for signup, let us know if you try.

We’ll add this to our list of Best High Interest Savings Accounts – check there for additional options.

Hat tip to Depositaccounts