United Heritage Credit Union in Texas gives us back its reward checking account. The question is, is it still the best reward checking account in the area? While the 3.01% APY certainly sounds competitive, but if we take into account that this rate fell from 5.01% when the account was locked, it doesn’t sound so impressive anymore. Another clincher is that the cap balance used to be $25,000.
Now, the cap balance for the checking account is down to $10,000 which means less earnings for new members. They also increased the required debit card transactions from 10 to 15, which makes the top yield harder to earn. Can we still consider this the best checking account in Texas? Maybe, if we compare it to lower yielding checking accounts offered locally.
Aside from the lower cap and the lower yield, though, the other terms seem to have been retained. Membership is open to those who live, work, or study in Bastrop, Hays, Smith, Caldwell, Williamson, and Travis. You need to deposit at least $1 to a savings account to become a member. The branches of the credit union are located at Round Rock, Tyler, Georgetown, Cedar Park, and Austin.
People complain that this isn’t much of a reward checking account anymore, but the falling rates and the lower caps seem to be a trend among all banks and credit unions when it comes to their checking accounts. This has been going on for two years. While it’s a sad state of affairs, all you can really do right now is look for the ones that remain at the top of the line.
It’s actually advisable for you to check out the credit union’s rate tables first. The rates might rise or fall without warning in the next few days. So far, the 3.01% APY has remained since June 27. Just so be on the safe side, check the website before visiting a branch.
The credit union has $481.50 million worth of assets. It is insured under NCUA Charter # 68251.
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