GENCO Federal Credit Union offers 3.51% APY for their best checking account
is pushing for their GENCO Advantage checking which is a high interest reward checking account that earns 3.51% APY for balances through $25,000 if certain conditions are met. Deposits over the $25K ceiling are given 1.01% APY. The base rate for this reward checking account is 0.10% in case the requirements are not satisfied. The bank also returns ATM Fees for as much as $25 every cycle.
High yield checking account holders can enjoy the high interest rates as long as the following requirements are met:
Complete at least 10 purchases using the MasterCard Check Card
Make a direct deposit or set up an automatic payment
Use the online banking system of the credit union
Opt for electronic statements
Members can open an account for as little as $50 of initial funding. The bank does not have balance requirements nor do they collect any monthly service fees.
The current interest rates that we have here are accurate as of October 2 but they may change any time. It will be wise to check the credit union’s website for the latest figures.
Interested individuals who want to sign up for the credit union are qualified if they work or live in the Texas counties of McLennan or Angelina. The credit union requires a $5 deposit into a savings account.
Account opening can be started online but you still need to visit one of their offices to fill up some signature forms. They have branches in Waco and Lufkin cities in Texas.
GENCO FCU gets strong reviews. BauerFinancial issued 5 stars for soundness and safety while Bankrate.com stamped 4 stars for performance. GENCO is covered by the NCUA through charter number 8585.
