Community banks continue to offer the highest yields on deposits while mega banks continue to lower their rates.
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COMMUNITY BANKS

ShortName Full Name APY
FCCUTampaFL Florida Central Credit Union 6.01
FRSBRobinsonIL First Robinson Savings Bank 6.01
CCUWausauWI Connexus Credit Union 5.15
KBAuburnAL Keystone Bank 5.15
CBPleasantHillMO Community Bank of Pleasant Hill 5.01
TRFCUFortWayneIN Three Rivers FCU 5.01
USBEverestKS Union State Bank/Bank of Atchison 5.01
BFCULaPorteTX Beacon Federal Credit Union 4.51
CFCUOklahomaCityOK Communications Federal Credit Union 4.25
FNEFCUEastHartfordCT First New England Federal Credit Union 4.15

www.checkingfinder.com helps consumers find free checking accounts nearest them with no minimum balance, free nationwide ATM usage and yields up to 6.01% at community banks/ credit unions. This probably sounds too good to be true, but it is the real-deal as long as the consumer agrees to do things that they’re probably already doing such as receiving electronic bank statements, using 8-12 debit card transactions per month and making a monthly direct deposit. By doing these things, it saves community banks and credit unions money, which they reward the consumer by giving it back in the form of a high yield.

If for some reason they don’t meet the conditions, the consumer gets a lower yield and the bank will send the consumer an email detailing what they need to do the next month in order to get the higher yield. The community banks/credit unions on www.checkingfinder.com are all committed to keeping their rates consistent over time, which means no teaser rates.

Compare these rates to the mega banks:

MEGA BANKS

•Schwab decreased their 18 month CD rate by 10 basis points, from a 2.40% to 2.30% APY.
•E*Trade decreased their savings rate by 25 basis points, from a 1.70% to 1.45% APY.
•HSBC decreased their savings rate by 20 basis points, from a 1.85% to 1.65% APY.
•E-Loan increased their 6 year CD rate by 10 basis points, from a 3.15% to 3.25% APY.
•Everbank decreased their 5 year CD rate by 10 basis points, from a 3.25% to 3.15% APY.
•AARP Financial Savings Center decreased their savings rate by 10 basis points, from a 1.15% to 1.05% APY.
•Wachovia increased their highest rate offered by 10 basis points, from a 1.90% APY on a 14 month CD to a 2.00% APY on a 17 month CD.