The Carter Federal Credit Union offers their best checking account for members in Arkansas and Louisiana. The special high interest checking account deal called My Carter Rewards Checking can earn as much as 5.01% APY for balances through $30,000.

The current interest rate given to deposits above the set $30K ceiling is 1.01% APY. The rate drops to 0.11% if the monthly requirements of the account are not satisfied. They do no have a limit on reimbursement of ATM fees incurred nationwide.

The highest interest rates can be enjoyed if the following criteria are met:

Account holder makes 11 purchases using the Visa Check Card
Set up an auto debit or at least make 1 direct deposit
Register a valid email address where electronic statements will be sent

The best checking account with the credit union can be opened for as low as $100. They do not impose any balance requirements. The credit union also does not collect any monthly service fees. There is a $4 membership processing fee though and a $1 deposit into a primary savings account.

Interested members can open multiple accounts but you must meet the monthly requirements for each to make most of the high interest checking account.

The credit union opens its membership to those who live, study, worship, or work in the Louisiana parishes of Red River, DeSoto, Claiborne, Bienville, Webster, Bossier, and Caddo. They also welcome people from the Lafayette and Columbia counties in Arkansas.

Carter FCU has branches in Haughton, Minden, Mansfield, Springhill, and Shreveport in Louisiana. They also have an office in Magnolia, Arkansas.

The credit union received 4 stars when BauerFinancial reviewed its performance. Bankrate.com stamped 3 stars for their soundness and safety. These evaluations were based on their March 2009 data. Carter FCU is covered by the NCUA through charter number 9164.