WORCESTER, Mass.–Webster First Federal Credit Union has introduced a “First Rate Checking” account that offers a 5% APY on the first $1,000 in the account.
According to the credit union, members of the $1.48-billion Webster First have to set up direct deposit and e-statements to sign up for First Rate Checking. There are no required transactions or minimum direct deposit requirements for the account.
“The goal of Webster First is to provide an exceptional banking experience for our members and we believe the enhancements made to First Rate Checking do just that,” CMO John Cournoyer said in a statement. “The result is a checking account that our members love, rewarding them by meeting simple requirements, and granting earlier access to their paychecks. Within the first 90 days of launch, over 450 new checking accounts were opened with overwhelmingly positive feedback from members.”
