Here you will find the latest info about the Orion Federal Credit Union Premium Checking account.
For residents nationwide, Orion Federal Credit Union is offering 1.00% APY with their Premium Checking Account on balances up to $10,000.
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About Orion Federal Credit Union Premium Checking
Orion Federal Credit Union is headquartered in Memphis, Tennesse and is the 7th largest credit union in the state. It was established in 1957 and has grown to over 70,000 members at 10 locations. Even though this is a credit union, residents nationwide can become a member and open an account. See membership details below.
|Eligibility: Membership in Orion Federal Credit Union is open to anyone through volunteering to donate $10 to one of five organizations through the credit union: Habitat for Humanity Greater Memphis, Hope House, Porter-Leath, Ronald McDonald House, and Wolf River Conservancy. Membership is also open to residents of Shelby, Tipton, and Fayette Counties in Tennessee; Desoto and Marshall Counties in Mississippi; and Crittendon and Mississippi Counties in Arkansas (membership details are listed in the credit union’s online application). See current membership details|
Continue reading for everything you need to know about the Premium Checking Account below.
Orion Federal Credit Union Premium Checking Rate
Members nationwide can earn a 1.00% APY on balances up to $10,000. There is also no minimum account balance so you will be able to enjoy the rate on all balances up to $15k.
- What you’ll get: 1.00% APY up to $10,000
- Eligible Accounts: Premium Checking Account
- Credit Inquiry: Hard Pull via Equifax
- Where it’s available: Nationwide
- Opening Deposit: No minimum
- Credit Card Funding: Unknown
- Monthly fee: $5, can be waived if you meet the account requirements below
Editor’s Note: Effective April 1, 2020, You are no longer required to have 8 transactions. Instead, spend at least $500 on your Orion debit or credit card to qualify. All signature and PIN based purchases will count toward the $500 minimum.
American Express® High Yield Savings Account - You earn a competitive interest rate along with no minimum deposits or monthly fees. Amex High Yield Savings account has been my favorite Hub account for the past 7 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why:
*No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account.
*1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two.
*No loss of interest during transfers - On the day you initiate your transaction on the high yield savings account website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express High Yield Savings Account include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month.
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos Bank and CIT Bank accounts offer great rates available nationwide which I recommend.
|Discover Bank Online Savings||$200 Bonus + 0.60% APY||Review|
|Aspiration||$150 Bonus + 1.00% APY||Review|
|Axos Business Savings||$200 Bonus + 0.20% APY||Review|
|Quontic Bank High Yield Savings||0.75% APY||Review|
|Axos Bank High Yield Savings||Up to 0.61% APY||Review|
|CIT Bank Money Market||0.70% APY + Amazon Prime Offer||Review|
|American Express High Yield Savings||0.60% APY as of 4/28/22||Review|
How To Earn Up to 1.00% APY Rate
- Sign up with Orion Federal Credit Union and open a Premium Checking account.
- Start earning their APY rate after completing the requirements each month:
- Meet the tiered balance requirement
- Spend at least $500 on your Orion debit or credit card to qualify.
|Balance Requirement||APY Rate|
|$0 – $10,000.00||1.00%|
|$10,000.01 to $100,000||1.00% to 0.32%|
|$100,000.01 to $250,000||0.32% to 0.16%|
|More than $250,000||0.16% to 0.01%|
- Free checks
- Online and mobile banking
- Out-of-network ATM fee reimbursement
- Free bill pay
Alternative Rewards Accounts To Consider
Earn up to 1.25% APY with the Axos Bank Rewards Checking account while enjoying a suite of digital tools for smarter money management. This is banking, redefined.
• Use Promo Code “Lucky” for a $100 bonus!
• Up to 1.25% APY
• Zero monthly maintenance fees
• Zero overdraft or NSF fees
• Zero minimum monthly balance reqs
• Unlimited domestic ATM fee reimbursements
• Zero Minimum Balance Requirement
• Only $50 to open an account
With the Discover Checking Account:
• Cashback – Earn 1% cash back on up to $3,000 in debit card purchases each month
• No. Fees. Period. That means you won’t be charged an account fee on our Cashback Debit account.
• Early Pay – Get your paycheck up to two days early with no charge
• No credit impact - You can apply without affecting your credit score.
• Fraud Protection - You’re never responsible for unauthorized debit card purchases. If you suspect someone else has used your debit card without your permission, let us know.
• Apply in minutes - Applying for a Cashback Debit account is simple and fast.
• Fee free overdraft protection
1.00% APY for a checking account is hard to beat. On top of that, if you meet the monthly account requirements, there are no monthly fees! However, this offer does trigger a hard pull which should be put into consideration.
Let us know about your experience with this credit union and comment below.
For more offers, see the complete list of Best Rewards Checking!
Check back often to see the latest info on Orion Federal Credit Union Premium Checking Account.