FARMINGTON HILLS, Mich., Aug. 7 /PRNewswire/ -- Michigan Heritage Bank
(MHB), a full service community bank in the Detroit area, announces the launch
of their iEarn Checking Account. This account will pay 5.50% Annual Percentage
Yield to customers who meet the simple requirements of the account.
"The iEarn's 5.50% Checking Account rewards rate is a half-percentage
point above the prime lending rate, exceeding most savings and CD rates. The
5.50% Annual Percentage Yield is very attractive, either the highest or among
the highest in the area," Raymond A. Biggs, Michigan Heritage Bank's President
and CEO, noted.
Mr. Biggs said the new iEarn Checking Account is designed for all
consumers who wish to maximize interest, with nominal requirements. Monthly,
customers must have one direct deposit, access their account online, receive
electronic statements and make 10 check card purchases.
"These are banking practices that many consumers do already. The
difference is that Michigan Heritage Bank's iEarn Checking Account will reward
them for it," Mr. Biggs said.
iEarn checking is available to personal (noncommercial) accounts only.
There is no minimum balance, but $25 is required to open the iEarn checking
account. Free bill pay and overdraft protection (to qualified applicants) is
also available with the iEarn checking account.
When the monthly requirements are met, customers receive 5.50% annual
percentage yield (APY) on their balances between $0.01 and $25,000, and 1.01%
on higher balances.
"As a bonus, MHB will refund customers' ATM fees from anywhere in the
nation, when they have met the monthly requirements," Mr. Biggs said.
Call or visit a branch or visit the MHB website at www.miheritage.com to
sign-up or to learn requirements and restrictions.
Michigan Heritage Bank is a full service, FDIC-insured financial
institution with a broad range of products and services for businesses and
consumers. Branches are located at 28300 Orchard Lake Road in Farmington
Hills, 21211 Haggerty Road in Novi, 1917 East Big Beaver in Troy, and 28345
Beck Road in Wixom. Phone: 800 914-3524. Website: www.miheritage.com. Michigan
Heritage Bank is a subsidiary of Michigan Heritage Bancorp, Inc., which trades
on the over-the-counter (OTCBB) market under the symbol MHBC.
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