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Josh's Surprise with High Interest Checking

No Catch to Better Rates

It’s been said that “if it sounds too good to be true, it probably is.” But that wasn’t the case for Elements Financial member Josh Albrecht.

Back in 2017, Albrecht was introduced to Elements when we came onsite to his workplace to present a workshop about homebuying. He is an employee of Indianapolis-based Herff Jones who partners with Elements to offer credit union membership as a benefit to their staff. During the workshop, he wasn’t surprised by the mortgage tips – but instead by the great rates our credit union offers. Albrecht admitted that he was “skeptical when I first heard of the interest rates that I could get on loans and the rate that I could earn on the money in my checking account.”

I thought that there had to be a catch that I was missing.

- Josh Albrecht, Member since 2018

Oftentimes the exceptional rates at Elements may be shocking at first glance because we’re able to offer higher deposit rates, lower loan rates, and fewer fees than our banking competitors. This is thanks to our not-for-profit status as a credit union where profits are returned to our members, rather than shareholders. Albrecht admits, “I thought that there had to be a catch that I was missing.” But more than two years later, he is thrilled he moved his checking account to Elements.

Albrecht now often recommends that friends, family and coworkers explore the best-in-market rates Elements offers. He tells them “Elements has all the features I look for in a bank including an easy to use app and I earn a great rate on my checking account.” Our High Interest Checking Account has even been featured as a “Top 10 Rate in the Nation” by He jokes he has even “had to show the Elements website to prove how great of an interest rate that I earn.”

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2.00 % APY1 With only 15 qualifying transactions per statement cycle

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Albrecht admits that before becoming a member his “concern was not having a physical bank near where I live or work” but thanks to the credit union shared branching network, he says he has been “relieved of concerns I have had.” He is impressed with the access to his money that Elements provides, explaining, “If I need to go to a branch or use an ATM, there are no problems finding one that is close by.” Our network of 5,000+ Shared Branches nationwide and 78,000 ATMs globally allows Albrecht access whenever and wherever he may be. 

Aside from rates, Albrecht found value in the financial education that Elements provides on topics including his credit score, budgeting, and homebuying. Plus, thanks to his employer’s partnership with our credit union, he knows he always has access to a dedicated Relationship Manager who is “available for one-on-one consultations in order to help me meet my financial goals.” Our personal touch and great rates are just a couple of the reasons that Albrecht knows that Elements is “like a bank, only better.”

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  1. 1 High Interest Checking Account (Standard HINT) pays dividends using blended rate tiers meaning the stated dividend rate will be paid on the portion of the balance for each tier. The Annual Percentage Yield (APY) for Tier 1 is 2.00% on balances up to $20,000.00 and the **Tier 2 APY ranges from 2.00% to 0.86% on balances from $20,000.01 to $50,000.00. To earn Tier 1 or Tier 2 dividend rates, 15 qualifying transactions must post per statement cycle on the account. The statement cycle includes all transactions posted after the last business day of the prior month through the last business day of the current month. Accounts not meeting the qualifying transaction threshold will earn 0.05% APY. Rates accurate as of October 1, 2023. All rates are variable and may change without notice at any time. Only the following are qualifying transactions: Debit card purchases, checks, bill payments, ATM withdrawals and ACH withdrawals. No other transactions qualify. At least one account holder must be at least 18 years old. Fees may reduce earnings.