[PA] Horizon Federal Credit Union: 8% APY Rewards Checking Account, Up To $20,000

Offer at a glance

• Interest Rate: 8% APY
• Minimum Balance: None
• Maximum Balance: $20,000
• Availability:  If you live, work, worship or attend school in the eleven counties of Bradford, Centre, Clinton, Columbia, Lycoming, Montour, Northumberland, Potter, Sullivan, Tioga, or Union
• Direct deposit required: Yes, no minimum
• Additional requirements: See below
• Hard/soft pull: Unknown
• ChexSystems: Unknown
• Credit card funding: Unknown
• Monthly fees: None
• Insured: NCUA

The Offer

Direct link to offer

• Horizon Federal Credit Union is offering 8% APY on balances up to $20,000 when you meet the following requirements:
  • Register for Direct Deposit.
  • Enroll in E-Statements.
  • Conduct 15 or more Debit Card purchases each month.

The Fine Print

• Dividends earned will remain in your Advantage Checking account. Monthly requirements: To meet the minimum qualification requirements, you must: 1) make fifteen (15) signature debit card purchases of a minimum $5 transaction amount that post and settle to your account; 2) have at least one (1) ACH (Automated Clearing House) debit or direct deposit post and settle to your account; and 3) be enrolled in and receive eStatements.
• The monthly qualification cycle is defined as a period beginning on the first day of the current month’s cycle and ending on the last day of that same month’s statement cycle.
• Only one Advantage Checking account is allowed per primary member’s social security number.
• ATM-processed transactions do not qualify as debit card transactions, and ATM fee refund structure does not apply.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This account has no monthly fees.

Our Verdict

Nice to see a rewards checking account with an actual high rate compared to basic savings rates.

Hat tip to noob_bonus