Latest Checking Product from Northeast Bank Helps Families Save Money
Northeast launches Blue Sky Checking from Northeast Bank, its new free checking option which pays higher interest for lower balances with no fees.
Lewiston, ME (Vocus/PRWEB ) June 12, 2009 -- At a time when checking account fees have set an all-time high (according to www.bankrate.com), Northeast Bank has launched its new Blue Sky Checking, which bucks this trend, combining free checking with higher interest rates, as well as other benefits, like free ATM transactions, free online banking and free bill pay.
"Today's families are busier than ever, trying to stretch their dollars. We started to see a trend where banks were doing away with free checking accounts, or making it more frustrating to have a free account. Our new Blue Sky Checking is positioned to help families save money, and have the freedom to use ATMs nationwide," said Marcel Blais, Chief Operating Officer for Northeast Bank.
Blue Sky Checking from Northeast Bank is an innovative account that features no monthly fees, no minimum balance and pays 3.00% Annual Percentage Yield (APY) on balances up to $30,000 (balances above $30,000 earn 1.00% APY) and provides ATM refunds nationwide up to $25 per month. To earn the higher rate and ATM refunds, the customer must meet the following conditions each month: make at least 15 debit card transactions, make a direct deposit or automatic payment and use online banking.
"Customers are using online banking, bill pay and debit cards more than ever. In fact, debit card use has now surpassed credit-card usage, according to VISA. So it makes sense to reward customers for using the most cost effective payments. With Blue Sky Checking, even if the customer doesn't meet the 15 transaction requirement to earn the higher interest, the account is still free, with no hidden fees," continued Blais.
To learn more about Blue Sky Checking from Northeast Bank and apply online, visit www.northeastbank.com/bluesky.
About Northeast Bank
Northeast Bank, a leader in delivering one-stop shopping for financial services, is headquartered in Lewiston, Maine and is a wholly-owned subsidiary of Northeast Bancorp (NASDAQ: NBN). The Company has approximately $607 million in assets as of March 31, 2009 and operates 26 retail outlets, including 11 bank branches, 14 insurance offices and 3 financial centers serving the financial needs of western, central, mid-coastal and southern Maine, as well as seacoast New Hampshire. Information regarding Northeast Bank can be found on its website at www.northeastbank.com or by contacting 1-800-284-5989.
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