Here in the Frugal Farmer family, we’re big fans of local banking. Instead of using the large conglomerates, we do all of our banking at small local institutions. The reason for our patronage of smaller banks and credit unions as opposed to national or worldwide banks are threefold:
- Personalized service and appreciation of our business
- Competitive products
- Support of small business
As small business owners ourselves, we’re constantly on the lookout for ways we can support other smaller and local businesses. Of course, we only support businesses that show exemplary management, products and services.
This is why we whole-heartedly support Northpointe Bank, located in Michigan and with lending centers in both Ohio and Indiana, Northpointe Bank offers banking, home mortgage lending and insurance as well.
Today we’re going to focus on reviewing their outstanding checking account. Northpointe’s personal checking account offers rare benefits to clients such as:
- a 5% interest rate paid on checking account balances up to $5,000
- a $50 sign-up bonus for The Frugal Farmer readers
- no minimum balance on the checking account
- no monthly fees for having the checking account (i.e. FREE checking)
- refunds for ATM use, up to $10 per month
- 24/7 online access, mobile banking and bill pay
Here are the necessary requirements for qualifying for the 5% interest rate and the $50 sign-up bonus on a Northepointe Bank checking account:
- You’ll need to start with an opening balance of at least $100
- On balances over $5,000, you’ll earn a simple interest rate of 0.10%, with a corresponding APY of 2.54-5.00%
- You have to keep the account open for at least 120 days
In addition:you’ll also need to meet certain qualifications during a statement period to get the 5%:
- 15 or more debit card purchases that amount to $500 or greater
- Enrollment in estatements
- Enrollment in direct deposit or automatic withdrawal of $100
As you can see, Northpointe Bank offers quite an attractive and potentially profitable checking account that can benefit a wide variety of banking customers.
If you’re interested in learning more about Northpointe’s 5% interest-paying checking account, simply click on the link below:
(Please let Northpointe know you heard about them from The Frugal Farmer – thanks!)
Disclosure: TFF does receive some compensation if you decide to open up a checking account with Northpointe. Terms of Northpointe Bank exclusive promotion for The Frugal Farmer readers: $50 new account bonus subject to approved applications funded with at least $100. Bonus paid in the form of interest credit to the account. Accounts closed within 120 days of opening subject to forfeiture of new account bonus plus a $10 early closing fee.