Posted by Chuck on July 27, 2017
Checking Accounts

Published on July 27th, 2017 | by Chuck


[NH,ME] Northeast Credit Union 4% Checking on up to $15,000

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 $500
  • Monthly fees:  Waived with $5k balance
  • Household limit: None mentioned
  • Insured: NCUA

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

5 Responses to [NH,ME] Northeast Credit Union 4% Checking on up to $15,000

  1. Alex says:

    Just signed up for it since I’ve been meaning to get a high interest account for awhile and this one seemed like the best for my needs.

    They allow credit card funding up to $500 upon account opening online, which isn’t huge but could be a nice bonus. I’m not sure what it codes as yet. They put you into “Approved Pending” once your application is complete and it mentions something about someone calling you, but I don’t know if they actually do that or not. It appears they don’t try to charge your CC until full approval.

    It appears there’s a mandatory savings account requirement when opening the account, which has a mandatory $5 requirement to open, so the $500 credit card funding needs to be done with at least $5 to savings and then $495 to checking ($500 total, unfortunately, not per account).

    The application mentions “worship in NH” as an option for approval, so it’s possible you could still get approved if you live in Vermont or Massachusetts, but I’m not 100% sure on that.

    Will report back on hard/soft pull and CC funding coding as soon as I get fully approved. Planning on doing 20x $0.50 Amazon gift card reloads every month for the 4% interest, so I can report back on that eventually, too. If not, I’m sure single bananas at the grocery store will work.

    Thanks for keeping tabs on all of these banking accounts. The signup bonus ones are nice, but I’m a fan of the high interest ones, too.

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