Orion Federal Credit Union To Limit Customers To One 4% APY Account

Orion Federal Credit Union offers 4% APY on balances up to $30,000 on the premium checking account. Some readers have more than one account, but Orion has sent out letters to these customers informing them that on October 7th, 2019 multiple accounts will be converted to the regular checking account and holding multiple premium checking accounts will no longer be allowed. This seems like a fair change to me, the limit of $30,000 in funds is already generous and it’s likely people with multiple accounts are not even close to be profitable for Orion. If you’re looking for other high interest accounts to replace Orion, I’d recommend reading this post.

Hat tip to reader Ian