GRAND RAPIDS, MICHIGAN (July 6, 2017) – Today, Northpointe Bank announced it is doubling the maximum account balance eligible to earn a high interest rate for its rewards checking account.  The UltimateAccount pays 5.00% APY* on balances up to $10,000, up from $5,000 previously.  Along with the higher balance, Northpointe’s rewards checking account is free.

“We are very pleased with the growth of our new customers since we began offering a 5% checking account two years ago”, said Michael Winks, Executive Vice President of Northpointe Bank.  “Now, by doubling the reward account balance to $10,000, our customers can earn double the reward.”  The bank expects to increase its average checking balance because of the change.

The 5% UltimateAccount also refunds $10 per month in ATM, $3 per month in person-to-person payments and comes with online /mobile banking and bill pay.

Northpointe Bank, headquartered in Grand Rapids, Michigan, is client-focused company that provides home loans and deposit banking products to communities across the country.  Our mission is to be the best bank in America by bringing value and innovation to the people we serve.  This includes Northpointe’s industry-leading UltimateAccount, a free rewards checking account that earns 5.00% APY along with free ATM refunds and complete mobile banking access.*  For each of the past four years, Independent Community Bankers of America has ranked Northpointe Bank within the top ten best performing bank in the nation among peer banks and according to the bank’s return-on-equity.***   To find out more, visit www.northpointe.com­­.  Member FDIC – Equal Housing Lender.

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* UltimateAccount annual percentage is 5.00% on balances up to $10,000.  Balances above $10,000 earn a simple interest rate of 0.10% with a corresponding APY of 2.54% – 5.00% APY.  If qualifications are not met during the statement period, the full account balance will earn interest at 0.05% APY for that statement period.  Qualifications include 15 or more debit card purchases that post and settle per the statement period, enrollment in eStatements and direct deposit or automation withdrawal of $100 or more per statement period.  $100 minimum deposit required to open.  No minimum balance requirement.  APY is effective as of 06/05/2017 and has not changed since 12/19/2014.  New accounts subject to approval.  Rates are subject to change including after the account is opened.
**Source:  For 2013-2016, ICBA’s Independent Banker ranked Northpointe Bank as best performing bank among its peers based on asset size and return-on-equity.

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