Review: Rize CU's High Yield Checking

Key Features

• High Interest Rates: The standout feature is the 7.50% APY on balances up to $5,000, which significantly surpasses national averages. ​
• No Monthly Fees: By enrolling in eStatements, account holders can avoid monthly maintenance fees.
• Accessibility: The account includes standard checking features such as online banking and a mobile app, facilitating easy account management. ​

Requirements

To qualify for the high APY, account holders must complete 10 debit card purchase transactions that post to the account during each statement cycle. ATM withdrawals do not count toward this requirement.

Membership Eligibility

To become a Rize Credit Union member, you must meet one of the following:

• Live in California or Nevada
• Work for an employer (SEG) affiliated with Rize CU
• Be an immediate family member of a Rize CU member or SEG employee

Considerations

Only the first $5,000 in the account will earn the 7.50% APY; balances above this threshold earn 0.05% APY.

The Bottom Line.

For individuals who can meet the monthly debit transaction requirement and maintain a balance around $5,000, the Rize™ Checking account is a great opportunity to earn a high return on a checking account. However, those with significantly higher balances may want to weigh these factors when deciding if this account aligns with their banking needs

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