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When it comes to Checking Account rates, MECU has the competitive edge!*

Checking Account  rates of area financial institutions

Data compiled July 03, 2008***
Rates shown as annual percentage yields (APY)
Balance

MECU

M&T
Select Checking

Provident
Interest Checking

Bank of America
Advantage Checking

Wachovia
Crown Banking

$0 to $7,499
0.75
0.05
0.15
0.05
0.05
$7,500 to $14,999
0.75
0.10
0.10
0.05
0.10
$15,000 to $24,999
0.75
0.10
0.10
0.05
0.10
$25,000 to $49,999

0.75

0.10

0.10

0.05

0.10
$50,000 plus
0.75
0.10
0.10
0.05
0.20
 
Minimum Balance and Deposit to Open

MECU

M&T
Select Checking

Provident
Interest Checking

Bank of America
Advantage
Checking

Wachovia
Crown Banking

Minimum balance of $0 $5,000(1) $1,800(2) $5,000(3) $4,000(4)
To avoid  monthly fee of
$0
$14
$10
$20
$20
Yearly fee if minimum balance is not met each month
$0
$168
$120
$240
$240
Minimum to open
$25
$25
$25
$100
$100
 

(1) $5,000 average balance or a combined balance of $10,000 in eligible checking, savings, money market, CDs, investment, loans and most business deposit balances.
(2) $1,800 minimum daily balance OR $15,000 combined account balance in checking, savings and CDs.
(3) $5,000 average daily balance or $15,000 combined average daily balance in savings, money market, CD or IRA, OR $15,000 outstanding in an installment loan or line of credit OR a first mortgage OR $15,000 minimum in an investment account with Bank of America  Investment Services.
(4) $5,000 in checking, savings and/or money market OR $4,000 with Direct Deposit in checking, savings and/or money market OR $10,000 combined in CDs, deposit IRAs, credit card (line amount), line of credit (line amount) and/or outstanding installment loan balances.

 

Note:
*This document is intended for comparative purposes only.  For complete details on various accounts including minimum balance to earn the advertised annual percentage yield, minimum opening deposit, rates and terms refer to the financial institution's current Truth in Savings Disclosure and Rate and Fee schedule.
Earnings on account could be reduced by fees.
Rates are current as of July 03, 2008 and are subject to change after account is opened.
Rates at some financial institutions may vary based on combinations of services members may have at those institutions.

***Source of data:  Rates of financial institutions compiled and reported by Informa Research Services, Inc., Calabasas, CA. www.informars.com.  Rates shown for MECU are effective July 03, 2008 and are subject to change.