Posted by Chuck on November 1, 2017
Checking Accounts

Published on November 1st, 2017 | by Chuck


Signature FCU Rewards Checking 3% APY on up to $15,000 [Nationwide]

Offer at a glance

  • Interest Rate: 3% APY
  • Minimum Balance: None
  • Maximum Balance: $15,000
  • Availability: Nationwide
  • Direct deposit required: Yes, $1,000
  • Additional requirements: 10 debit card purchases and e-statements
  • Hard/soft pull: Soft
  • Credit card funding: $500 (cash advance issue?)
  • Monthly fees: None
  • Insured: NCUA
  • Expiration date: None listed

The Offer

Direct Link

  • Signature FCU Choice Checking offers 3% APY on balances up to $15,000 when meeting the qualifying activities:
    • Have direct deposit totaling $1,000 or more into your account per month
    • Enroll in Signature e-statements
    • Use your debit card at least 10 times per month for purchases in person or online

Be sure to select the Choice Checking option when signing up. With this account, you can choose one of three benefits: 3% APY, ATM fee waiver, and debit card rewards. We’re focusing on the 3% APY option in this post.

The Fine Print

  • Limit one account per person.
  • High Yield has certain requirements that must be met: The debit card must be used at least 10 times and there must be a total of $1,000 being directly deposited into the account each month. The member must be enrolled in e-statements and can only have one Choice Checking per account. If any of the requirements are not met, the account will earn the standard checking account rate for that month.
  • Balances above $15,000 earn the standard checking APY while balances below $15,000 will earn the High Yield APY.
  • You can even create a personalized design on your Visa debit card to make it stand out in your wallet, and when you pay.
  •  No minimum balance requirement

Avoiding Fees

There aren’t any monthly fees on this account.

Geographic Availability

Signature FCU is available for all to join by enrolling into American Consumer Council for free.

“Still need another way to join? By selecting this option Signature FCU will enroll you into American Consumer Council (ACC), at no cost to you, therefore making you eligible for membership.”

Our Verdict

It seems that this will be a soft pull, has $500 in credit card funding (we still need data points on cash advance), and ACH-transfers count as direct deposit. This is another solid nationwide 3% APY option on up to $15k, similar to Evansville, LMCU, and GLCU. We’ll add this one to our list of Best High-Yield Savings Accounts.

Hat tip to Depositaccounts

30 Responses to Signature FCU Rewards Checking 3% APY on up to $15,000 [Nationwide]

  1. Jill says:

    According to a manager:
    1. It is a soft pull to become a member and to open the Rewards Checking.
    2. Initial funding of up to $500 can be done with a credit card.
    3. An ACH transfer will count as direct deposit ($1,000 Accumulative per month).
    4. 10 debit card purchases either on line or in person.
    5. No requirement waiver for first month.

  2. Dave says:

    Doesn’t state any restrictions on direct deposit on the site. This seems like a great deal especially in light of New Buffalo’s updated terms ($15k and right to not pay out if they decide you’re not using as intended).

    Emailed them to confirm if it’s a hard pull or soft. Will report back.

  3. Dave says:

    Here you have it: Thank you for your interest in joining Signature FCU. In order to open your new account we would perform a soft pull on your credit using a third party provider called Chex Systems. This would show up as an inquiry when other financial institutions use the same system.

  4. NBG says:

    Is the savings account a mandatory requirement?. Also what is that Courtesy Pay?. Just to be sure, i need to select the Choice (High Yield) Checking right?.

  5. Ryan says:

    SP is on Equifax, so it will need to be unfrozen:
    “Thank you for your interest in joining Signature Federal Credit Union. When joining the credit union we start with a soft pull of your credit score by using Equifax.”

  6. JASON says:

    Thank you for your interest in an account at Signature Federal Credit Union. One of our membership representatives will be in contact with you shortly.

    This is what I got after entering the 5 chex questions

    • NBG says:

      Same here.

      • Ryan says:

        Jason & NBG: Do either of you have a high # of Chex inquiries in the past 6-12 months? Looking forward to hearing what they get back to you with – I’ve been considering joining for a couple months but I have probably 10 inqs in the past year.

        • NBG says:

          20+ in 1 year. So my chances are slim. Got denied for the ETFCU last month for the same reason.

        • NBG says:

          After i replied to your question, i checked my email and saw the e-sign doc for the account opening and also requested 3 docs (Driving license and 2 docs for Address proof). Looks like i am in.

          • Ryan says:

            Oh nice, congrats! I will give them a try then. I didn’t check on here for ETFCU, so I made that mistake a couple of weeks ago, too :\ They never even sent me a notice, I had to go online and check the status manually.

        • JASON says:

          19-20 since 10/1/2016. Quite a lot of M&T inquiries I can tell. Received the email from them asking me to E-sign some documents. Not finalized yet. CC initial funding not processed yet

          • Ryan says:

            It seems like this is the standard process. My guess is they SP EQ to generate the questions, do the docusign and documents, and then do the Chex and manually review. Hopefully my INQs won’t be an issue, I’ve been trying to find a decent daily CU and have had some bad luck, so I’ve had several the past year.

  7. Eric says:

    Wondering if Chase codes CC funding as a purchase. Should I lower the cash advance to $100 first and try?

  8. Ace Malik says:

    Great deal if you use your debit card anyways, i always use my credit card for purchases, but i have a similar account that requires 12 debit purchases and i got about $27 this mth but spent about $15 so im left with a gain of $12 versus leaving $15k in a CIT account getting $14 for doing nothing

    The $15 in purchases that is typically things i wouldnt normally, usually a kombucha or something

    I have used amazon gift cards at varying amounts under a buck but i dont want to risk a shutdown

  9. This is Paula Hoelzel, the director of membership with the Signature FCU. You can contact the membership department of our credit union directly with questions. The email address is :

    After this posting we received a high volume of applications and we are working hard to verify everyone;

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