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Consumers Credit Union Rewards Checking account review

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Earn up to 5.09% APY on your checking balance, but only if you meet the strict requirements.

Due to their size and structure, credit unions often offer more personal banking experiences and competitive rates. Consumers Credit Union Rewards Checking account is a prime example. It offers one of the highest yields in the country, total reimbursement on all ATM fees and more — all without a monthly fee.


Monthly fee




Minimum deposit to open


APY5.09% on balances of $0 to $10,000
0.20% on balances of $10,000.01 to $25,000
0.10% on balances of $25,000.01+
Monthly fee$0
Minimum deposit to open$0
ATMsOver 30,000 ATMs and access to over 5,000 shared branches
ATM transaction fee$0
ATM fee rebatesIn order to get reimbursed for ATM fees, you’ll need to meet the minimum interest requirements.
Overdraft fee$30
Nonsufficient funds fee$30

What are the benefits of the Consumers Credit Union Rewards Checking account?

This NCUA-insured checking account comes packed with useful features and benefits:

  • Highest APY. Earn as much as 5.09% APY on up to $10,000 when you meet the requirements.
  • $0 monthly fees. You’ll pay $0 monthly fees to keep this account open.
  • ATM fee reimbursements. Get reimbursed for any and all ATM fees when you meet the requirements.
  • $0 balance requirements. There are no opening deposit or ongoing balance requirements.
  • Large branch and ATM network. Unlike most credit unions, CCU has a network of over 30,000 ATMs and access to over 5,000 shared branches.

Requirements to earn APY

Keep in mind, even if you meet the requirements to earn the highest APY tier, it will only apply on balances up to $10,000. And in order to earn the advertised APY, you’ll need to meet a few conditions. Otherwise, you’ll only earn 0.01% APY:

  • 3.09%: Enroll in eDocuments, complete 12+ debit purchases totaling $100+ and post $500+ direct deposit or ACH credits per month.
  • 4.09%: Meet the 3.09% APY conditions and spend $500+ in CCU Visa credit card purchases per month.
  • 5.09%: Meet the 3.09% APY conditions and spend $1,000+ in CCU Visa credit card purchases per month.

Consumers Credit Union ATM network and fees

This account comes with a Visa debit card with chip technology, allowing you to shop securely almost anywhere. Consumers Credit Union has over 30,000 ATMs and 5,000 shared branches. But if you need to visit an out-of-network ATM or branch, any and all fees will be reimbursed.

What should I look out for?

While this account is one of the strongest checking options available right now, there are a few things you should watch out for:

  • Maximum balance on APY. You’ll only earn the advertised APY on balances up to $10,000. Beyond that, you’ll earn 0.2% on balances between $10,000.01 and $25,000, and 0.1% on balances above $25,000.01.
  • Requirements to earn APY. The hoops to jump through to get the highest APY tier may not be worth it to you since it’s significantly lowered on balances above $10,000.01.
  • Fee reimbursement requirements. In order to get reimbursed for ATM fees, you’ll need to meet the requirements to earn 3.09% APY.
  • Mandatory membership. While anyone can join CCU, you’ll need to go through the application process, pay a one-time $5 fee to Consumers Cooperative Association, then deposit and maintain a minimum $5 in your Membership Share/Savings Account.
  • High service charges. Watch out for the $30 overdraft charge, $10 overdraft transfer fee, $5 card replacement fee, $10 incoming wire transfer fee and other service charges.
  • Limited customer service hours. Customer service is only available during standard business hours during the week, limited hours Saturday and closed Sunday.

Compare with other checking accounts

Name Product APY ATMs Fee
No ATM fees nationwide at more than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs
A full-service account with convenient, surcharge-free access to two massive ATM networks.
BBVA Premium Checking
BBVA Premium Checking
More than 64,000 AllPoint, participating 7-Eleven and BBVA USA ATMs
(can be waived)
A full-service interest checking account that offers automatic rebates of ATM fees.
Access to 16,000 ATMs and nearly 5,000 branches nationwide
(can be waived)
Get a $200 bonus when you open a new Chase Total Checking account and set up direct deposit within 60 days of opening your account. Chase's simplest checking account is easy to use and gives you access to 16,000 ATMs and nearly 5,000 branches.
38,000 fee-free ATMs nationwide
Linked checking and savings accounts from a mobile-first bank that’s light on fees.
1,000 fee-free ATMs across the country
Pay a $0 monthly service charge and get free access to BBVA ATMs.
Access to 16,000 ATMs and nearly 5,000 branches nationwide
(can be waived)
Get a $300 signup bonus as a new Chase checking customer when you open a Chase Premier Plus Checking account and set up direct deposit.

Compare up to 4 providers

How much do I need to open an account?

You can open this account with $0, but you’ll need to become a member of the credit union by purchasing and holding one $5 share.

How do I apply?

You can open this account online in minutes:

  1. Visit the Consumers Credit Union (MI) website, click Open an Account and Free Rewards Checking Application.
  2. Sign up as a new member or log in if you already have an account.
  3. Select Rewards Checking under Checking Accounts, then click Next.
  4. Enter your personal information and click Next.
  5. Review or change your account selections and click Confirm.
  6. Upload pictures of your supporting documents and click Next.
  7. Accept the account agreements and disclosures.
  8. Agree to tax ID terms, then click Next.
  9. Fund your account and Submit your application.


In order to open this account, you must meet the following eligibility requirements:

  • 18 years of age or older — you can call or visit a branch if you’re underage
  • Social Security number and/or Tax ID
  • Government-issued ID
  • Member of CCU
  • Valid US address

Required information

When you apply for this account, you’ll need to provide personal information that includes:

  • Name and date of birth
  • Mailing address
  • Social Security or tax ID number
  • Driver’s license or other state-issued ID
  • Contact information
  • Employment information

How do I deposit or withdraw money?


  • Mobile check deposit
  • At an ATM or branch
  • Phone, online or wire transfer
  • Direct deposit
  • Mail a check


  • At an ATM or branch
  • Phone, online or wire transfer
  • Cashback from participating merchant
  • Bill pay

How do I contact Consumers Credit Union customer service?

There are a few ways you can get in touch with customer service:

  • Phone: Call 877-275-2228 Monday to Thursday from 9 a.m. to 5 p.m., Friday from 9 a.m. to 6 p.m. and Saturday from 9 a.m. to 1 p.m. CST.
  • Live chat: Visit the Contact Us page on the CCU website.
  • Secure message: Log in to your online banking account to send a secure message.

Bottom line

The Rewards Checking account offers the highest interest rate we’ve come across, even among savings accounts. It also offers ATM fee reimbursements and has $0 monthly fees — but watch out for the requirements to earn the advertised APY. If this account isn’t right for you, compare other checking options to find one that meets your financial needs.

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