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Best Banks & Checking Accounts in Memphis, Tennessee - April 2026

Content reviewed by
Brian McKay Brian McKay
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Brian McKay

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| i Editorial Disclosure
Editorial Disclosure The rates displayed are actual, verified rates sourced directly from the official websites of banks and credit unions. Our editorial content is independent of any advertiser relationships.
| ✓Fact Checked | Checking Account Rates — Last Updated and Verified: April 5, 2026

The best checking rates for Memphis, Tennessee include FedTrust Federal Credit UnionFedTrust Federal Credit Union167 N Main St Ste 102, Memphis, TN 38103 1867A5.0 ★Texas Ratio: 6.25% Rewards Checking at 4.59% APY, FAA Federal Credit UnionFAA Federal Credit Union7974 Centennial Dr, Memphis, TN 38125 2376A+5.0 ★Texas Ratio: 1.87% Dividend Plus Checking at 3.52% APY, FirstBank (TN)FirstBank (TN)3238 Players Club Cir, Memphis, TN 38125A5.0 ★Texas Ratio: 6.39% FirstRewards Checking at 1.51% APY, UPS Employees Credit UnionUPS Employees Credit Union1814 E Brooks Rd, Memphis, TN 38116A+5.0 ★Texas Ratio: 2.22% Share (Checking) Draft at 0.25% APY, and Southern Security Federal Credit UnionSouthern Security Federal Credit Union3183 Poplar Ave, Memphis, TN 38111A5.0 ★Texas Ratio: 11.34% Share Draft (Checking) at 0.20% APY. Checking account rates as of April 5, 2026 according to verified data from MonitorBankRates.

Memphis has 11 local institutions in our database, with checking rates as high as 4.59% APY from FedTrust Federal Credit Union at 167 N Main St Ste 102, Memphis, TN, 38103 1867. Use the tabs below to compare all available checking account types. Rates are continually updated — we recommend checking back frequently.

Checking account rates reflect recent market quotes and representative offers available to depositors in Memphis, Tennessee. Checking Account Rates Last Updated and Verified: April 5, 2026

Compare Checking Account Rates Today in Memphis, Tennessee & the Surrounding Area

Institutions:
Source: Verified Checking Rate Data provided by MonitorBankRates
Institution
Product
APY
Min Deposit
Profile
FedTrust Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 6.25%
167 N Main St Ste 102
Memphis, TN 38103 1867
Rewards Checking
4.59%
$0
View
▼
Rate4.50%
Min Deposit$0
Min Balance—
UpdatedMar 26, 2026
Details

No additional details provided.

FAA Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.87%
7974 Centennial Dr
Memphis, TN 38125 2376
Dividend Plus Checking
3.52%
$25
View
▼
Rate3.52%
Min Deposit$25
Min Balance—
UpdatedMar 26, 2026
Details

N/A

FirstBank (TN)
Institution Rating:
A5.0 ★ Texas Ratio: 6.39%
3238 Players Club Cir
Memphis, TN 38125
FirstRewards Checking
1.51%
$0
View
▼
Rate1.50%
Min Deposit$0
Min Balance—
UpdatedMar 26, 2026
Details

Qualifications Required: 10 debit card purchases post and clear; Have at least one ACH debit or ACH credit post and clear per monthly qualification cycle; Receive eStatement; Qualifying balance up to $25,000.00; To be eligible for a FirstRewards Checking account you must receive account statements electronically monthly.

FAA Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.87%
7974 Centennial Dr
Memphis, TN 38125 2376
High Interest Checking
0.50%
$5,000
View
▼
Rate0.50%
Min Deposit$5,000
Min Balance—
UpdatedMar 26, 2026
Details

$100,000

FAA Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.87%
7974 Centennial Dr
Memphis, TN 38125 2376
High Interest Checking
0.40%
$5,000
View
▼
Rate0.40%
Min Deposit$5,000
Min Balance—
UpdatedMar 26, 2026
Details

Less than $100,000

UPS Employees Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.22%
1814 E Brooks Rd
Memphis, TN 38116
Share (Checking) Draft
0.25%
$300
View
▼
Rate0.25%
Min Deposit$300
Min Balance—
UpdatedMar 29, 2026
Details

No additional details provided.

Southern Security Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 11.34%
3183 Poplar Ave
Memphis, TN 38111
Share Draft (Checking)
0.20%
$0
View
▼
Rate0.20%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details

No additional details provided.

Southern Security Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 11.34%
3183 Poplar Ave
Memphis, TN 38111
Share Draft (Checking)
0.15%
$0
View
▼
Rate0.15%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details

No additional details provided.

Southern Security Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 11.34%
3183 Poplar Ave
Memphis, TN 38111
Share Draft (Checking)
0.10%
$0
View
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details

No additional details provided.

Nucor Employees Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.73%
3601 Paul R Lowry Rd
Memphis, TN 38109 3007
Share Draft (Checking)
0.05%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

No additional details provided.

Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.58%
5150 Stage Rd Ste 102
Memphis, TN 38134 3169
Ready Checking
0.05%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 26, 2026
Details

No additional details provided.

Fsnb
Institution Rating:
A5.0 ★ Texas Ratio: 12.00%
3950 Austin Peay Hwy
Memphis, TN 38128
Advanced Checking
0.05%
$0
View
▼
Rate0.05%
Min Deposit$0
Min Balance—
UpdatedApr 3, 2026
Details

Minimum Balance to Open Account: $5.00

FedEx Employees Credit Association Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 6.11%
3670 Hacks Cross Rd
Memphis, TN 38125
Extras Checking
0.03%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedApr 2, 2026
Details

No additional details provided.

FedEx Employees Credit Association Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 6.11%
3670 Hacks Cross Rd
Memphis, TN 38125
Basic Checking
0.03%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedApr 2, 2026
Details

No additional details provided.

Memphis Municipal Employees Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 4.56%
577 Dr Ml King Jr Ave
Memphis, TN 38126 1942
Presidential Checking
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

No additional details provided.

Memphis Municipal Employees Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 4.56%
577 Dr Ml King Jr Ave
Memphis, TN 38126 1942
Regular Checking
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

No additional details provided.

Memphis Municipal Employees Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 4.56%
577 Dr Ml King Jr Ave
Memphis, TN 38126 1942
Senior Checking Account
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

No additional details provided.

Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.58%
5150 Stage Rd Ste 102
Memphis, TN 38134 3169
eChecking
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 26, 2026
Details

No additional details provided.

LG&W Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 0.44%
1616 Whitten Rd
Memphis, TN 38134
Share Draft/Checking
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details

No additional details provided.

Old Hickory Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 10.02%
Kasasa Cash Checking
4.50%
$0
View
▼
Rate4.41%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

Qualifying balance up to $10,000.00

Source: Verified Checking Rate Data provided by MonitorBankRates
Institution
Product
APY
Min Deposit
Profile
FedTrust Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 6.25%
167 N Main St Ste 102
Memphis, TN 38103 1867
Rewards Checking
4.59%
$0
View
▼
Rate4.50%
Min Deposit$0
Min Balance—
UpdatedMar 26, 2026
Details

No additional details provided.

FAA Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.87%
7974 Centennial Dr
Memphis, TN 38125 2376
Dividend Plus Checking
3.52%
$25
View
▼
Rate3.52%
Min Deposit$25
Min Balance—
UpdatedMar 26, 2026
Details

N/A

FirstBank (TN)
Institution Rating:
A5.0 ★ Texas Ratio: 6.39%
3238 Players Club Cir
Memphis, TN 38125
FirstRewards Checking
1.51%
$0
View
▼
Rate1.50%
Min Deposit$0
Min Balance—
UpdatedMar 26, 2026
Details

Qualifications Required: 10 debit card purchases post and clear; Have at least one ACH debit or ACH credit post and clear per monthly qualification cycle; Receive eStatement; Qualifying balance up to $25,000.00; To be eligible for a FirstRewards Checking account you must receive account statements electronically monthly.

FAA Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.87%
7974 Centennial Dr
Memphis, TN 38125 2376
High Interest Checking
0.50%
$5,000
View
▼
Rate0.50%
Min Deposit$5,000
Min Balance—
UpdatedMar 26, 2026
Details

$100,000

FAA Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.87%
7974 Centennial Dr
Memphis, TN 38125 2376
High Interest Checking
0.40%
$5,000
View
▼
Rate0.40%
Min Deposit$5,000
Min Balance—
UpdatedMar 26, 2026
Details

Less than $100,000

Old Hickory Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 10.02%
Kasasa Cash Checking
4.50%
$0
View
▼
Rate4.41%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

Qualifying balance up to $10,000.00

UNIFY Financial Federal Credit Union
Institution Rating:
B4.4 ★ Texas Ratio: 21.76%
HY Checking
4.00%
$0
View
▼
Rate3.93%
Min Deposit$0
Min Balance—
UpdatedMar 29, 2026
Details

No additional details provided.

F&M Bank
Institution Rating:
A+5.0 ★ Texas Ratio: 0.06%
Performance Checking
3.70%
$0
View
▼
Rate3.64%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

No additional details provided.

Knoxville TVA Employees Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.39%
High-Yield Checking
3.50%
$0
View
▼
Rate3.45%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details

Qualifications Required; Qualifying balance up to $10,000.00

Appalachian Community Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.21%
Share Draft (Peak Checking)
3.25%
$0
View
▼
Rate3.20%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

based on qualifying criteria**

First National Bank of Middle Tennessee
Institution Rating:
A+5.0 ★ Texas Ratio: 0.00%
FiRST Impact Interest Checking
3.04%
$100
View
▼
Rate3.00%
Min Deposit$100
Min Balance—
UpdatedApr 2, 2026
Details

Qualifications Required: Have at least one Direct Deposit or authorize one automatic payment that posts and settles; Receive Electronic Statements (valid e-mail address is required); Make 15 debit card purchases that posts and settles; Qualifying balance up to $20,000.00

Ascend Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.48%
High-Yield Checking
3.04%
$0
View
▼
Rate2.99%
Min Deposit$0
Min Balance—
UpdatedApr 4, 2026
Details

No additional details provided.

TNConnect Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 5.73%
High Yield Checking
3.00%
$0
View
▼
Rate2.96%
Min Deposit$0
Min Balance—
UpdatedMar 29, 2026
Details

Qualifications Required; Earns rewards.

Listerhill Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 4.62%
Growth Checking Account
2.27%
$0
View
▼
Rate2.25%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details

Effective 3/1/2026

Eclipse Bank
Institution Rating:
A+5.0 ★ Texas Ratio: 1.64%
Opulent Checking
2.02%
$0
View
▼
Rate2.00%
Min Deposit$0
Min Balance—
UpdatedApr 3, 2026
Details

Qualifying balance up to $250,000.00

Commercial Bank Harrogate, TN
Institution Rating:
A+5.0 ★ Texas Ratio: 2.92%
Cash Back Checking
2.00%
$100
View
▼
Rate2.00%
Min Deposit$100
Min Balance—
UpdatedApr 2, 2026
Details

Qualifications Required: Use your debit card at least 12 times during a calendar month; Cash back earned on up to $300 in purchases monthly; Earn up to $72 cash back per year, $6 per month

Listerhill Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 4.62%
Growth Checking Account
1.55%
$0
View
▼
Rate1.54%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details

Effective 3/1/2026

Gateway First Bank
Institution Rating:
F1.8 ★ Texas Ratio: 53.47%
Gateway Premier Interest Checking
1.50%
$0
View
▼
Rate1.49%
Min Deposit$0
Min Balance—
UpdatedMar 26, 2026
Details

No additional details provided.

Listerhill Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 4.62%
Growth Checking Account
1.40%
$0
View
▼
Rate1.39%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details

Effective 3/1/2026

SouthEast Bank
Institution Rating:
C-3.6 ★ Texas Ratio: 31.66%
Premium Interest Checking
0.50%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedApr 3, 2026
Details

No additional details provided.

Source: Verified Checking Rate Data provided by MonitorBankRates
Institution
Product
APY
Min Deposit
Profile
FedTrust Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 6.25%
167 N Main St Ste 102
Memphis, TN 38103 1867
Rewards Checking
4.59%
$0
View
▼
Rate4.50%
Min Deposit$0
Min Balance—
UpdatedMar 26, 2026
Details

No additional details provided.

FirstBank (TN)
Institution Rating:
A5.0 ★ Texas Ratio: 6.39%
3238 Players Club Cir
Memphis, TN 38125
FirstRewards Checking
1.51%
$0
View
▼
Rate1.50%
Min Deposit$0
Min Balance—
UpdatedMar 26, 2026
Details

Qualifications Required: 10 debit card purchases post and clear; Have at least one ACH debit or ACH credit post and clear per monthly qualification cycle; Receive eStatement; Qualifying balance up to $25,000.00; To be eligible for a FirstRewards Checking account you must receive account statements electronically monthly.

Old Hickory Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 10.02%
Kasasa Cash Checking
4.50%
$0
View
▼
Rate4.41%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

Qualifying balance up to $10,000.00

Commercial Bank Harrogate, TN
Institution Rating:
A+5.0 ★ Texas Ratio: 2.92%
Cash Back Checking
2.00%
$100
View
▼
Rate2.00%
Min Deposit$100
Min Balance—
UpdatedApr 2, 2026
Details

Qualifications Required: Use your debit card at least 12 times during a calendar month; Cash back earned on up to $300 in purchases monthly; Earn up to $72 cash back per year, $6 per month

FNB of Oneida
Institution Rating:
A+5.0 ★ Texas Ratio: 0.96%
First Reward Checking
0.80%
$25
View
▼
Rate0.00%
Min Deposit$25
Min Balance—
UpdatedApr 3, 2026
Details

Qualifications Required; Qualifying balance up to $50,000.00

Tennessee Valley Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 4.06%
TVFCU Perks Platinum Checking
0.50%
$0
View
▼
Rate0.50%
Min Deposit$0
Min Balance—
UpdatedApr 4, 2026
Details

No additional details provided.

Citizens Bank (ELIZABETHTON, TN)
Institution Rating:
A+5.0 ★ Texas Ratio: 3.69%
Reward Interest Checking
0.40%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedApr 2, 2026
Details

No additional details provided.

Citizens Bank (ELIZABETHTON, TN)
Institution Rating:
A+5.0 ★ Texas Ratio: 3.69%
Reward Interest Checking
0.30%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedApr 2, 2026
Details

No additional details provided.

Citizens Bank (ELIZABETHTON, TN)
Institution Rating:
A+5.0 ★ Texas Ratio: 3.69%
Reward Interest Checking
0.25%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedApr 2, 2026
Details

No additional details provided.

Citizens Bank (ELIZABETHTON, TN)
Institution Rating:
A+5.0 ★ Texas Ratio: 3.69%
Reward Interest Checking
0.20%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedApr 2, 2026
Details

No additional details provided.

Citizens Bank (ELIZABETHTON, TN)
Institution Rating:
A+5.0 ★ Texas Ratio: 3.69%
Reward Interest Checking
0.15%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedApr 2, 2026
Details

No additional details provided.

Citizens Bank (ELIZABETHTON, TN)
Institution Rating:
A+5.0 ★ Texas Ratio: 3.69%
Reward Interest Checking
0.05%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedApr 2, 2026
Details

No additional details provided.

Ascend Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.48%
Rewards Checking
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedApr 4, 2026
Details

No additional details provided.

Southeast Financial Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 10.03%
Rewards Checking
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

No additional details provided.

Source: Verified Checking Rate Data provided by MonitorBankRates
Institution
Product
APY
Min Deposit
Profile
FedEx Employees Credit Association Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 6.11%
3670 Hacks Cross Rd
Memphis, TN 38125
Basic Checking
0.03%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedApr 2, 2026
Details

No additional details provided.

New South Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 0.30%
FREE Checking
0.05%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

No additional details provided.

Bowater Employees Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 6.33%
Free Interest Checking
0.01%
$0
View
▼
Rate0.01%
Min Deposit$0
Min Balance—
UpdatedApr 2, 2026
Details

No additional details provided.

Ascend Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.48%
Free Checking
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedApr 4, 2026
Details

No additional details provided.

UNIFY Financial Federal Credit Union
Institution Rating:
B4.4 ★ Texas Ratio: 21.76%
FREE Checking
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 29, 2026
Details

No additional details provided.

UNIFY Financial Federal Credit Union
Institution Rating:
B4.4 ★ Texas Ratio: 21.76%
FREE Checking Account
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 29, 2026
Details

No additional details provided.

TNConnect Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 5.73%
Free Checking
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 29, 2026
Details

No monthly fees or minimum balance

Source: Verified Checking Rate Data provided by MonitorBankRates
Institution
Product
APY
Min Deposit
Profile
Southeast Financial Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 10.03%
Student Checking
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

No additional details provided.

Source: Verified Checking Rate Data provided by MonitorBankRates
Institution
Product
APY
Min Deposit
Profile
Southern Security Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 11.34%
3183 Poplar Ave
Memphis, TN 38111
Business Share Draft (Checking)
0.40%
$0
View
▼
Rate0.40%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details

No additional details provided.

Southern Security Federal Credit Union
Institution Rating:
A5.0 ★ Texas Ratio: 11.34%
3183 Poplar Ave
Memphis, TN 38111
Business Share Draft (Checking)
0.30%
$0
View
▼
Rate0.30%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details

No additional details provided.

Firefighters First Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.58%
5150 Stage Rd Ste 102
Memphis, TN 38134 3169
Business Checking
0.00%
$100
View
▼
Rate0.00%
Min Deposit$100
Min Balance—
UpdatedMar 26, 2026
Details

No additional details provided.

Appalachian Community Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.21%
Summit Business Checking
2.03%
$0
View
▼
Rate2.01%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

No additional details provided.

Southern Bank of Tennessee
Institution Rating:
A+5.0 ★ Texas Ratio: 0.00%
small business interest checking
1.00%
$1,000
View
▼
Rate0.00%
Min Deposit$1,000
Min Balance—
UpdatedApr 3, 2026
Details

Qualifications Required: 15 debit card transactions of $10 or more post and settle per month; Be enrolled and agree to receive e-statements; Qualifying balance up to $250,000.00

Appalachian Community Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.21%
Summit Business Checking
0.75%
$0
View
▼
Rate0.75%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

No additional details provided.

Leaders Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 4.94%
Leading Edge Business Checking
0.75%
$500
View
▼
Rate0.75%
Min Deposit$500
Min Balance—
UpdatedMar 27, 2026
Details

No additional details provided.

Appalachian Community Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.21%
Summit Business Checking
0.65%
$0
View
▼
Rate0.65%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

No additional details provided.

Eastman Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.31%
Maximum Business Checking
0.55%
$0
View
▼
Rate0.55%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details

No additional details provided.

Appalachian Community Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.21%
Summit Business Checking
0.55%
$0
View
▼
Rate0.55%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

No additional details provided.

F&M Bank
Institution Rating:
A+5.0 ★ Texas Ratio: 0.06%
Choice Business Interest Checking
0.50%
$0
View
▼
Rate0.50%
Min Deposit$0
Min Balance—
UpdatedMar 28, 2026
Details

No additional details provided.

Eastman Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.31%
Maximum Business Checking
0.45%
$0
View
▼
Rate0.45%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details

No additional details provided.

Listerhill Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 4.62%
Business High Yield Checking Account
0.40%
$0
View
▼
Rate0.40%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details

Effective 3/1/2026

Listerhill Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 4.62%
Business High Yield Checking Account
0.35%
$0
View
▼
Rate0.35%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details

Effective 3/1/2026

Eastman Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.31%
Maximum Business Checking
0.35%
$0
View
▼
Rate0.35%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details

No additional details provided.

Eastman Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.31%
Beside You Business Checking
0.35%
$0
View
▼
Rate0.35%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details

Qualifying balance up to $100,000.00

Citizens Bank (ELIZABETHTON, TN)
Institution Rating:
A+5.0 ★ Texas Ratio: 3.69%
Business Interest Checking
0.30%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedApr 2, 2026
Details

No additional details provided.

Knoxville TVA Employees Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.39%
Preferred Business Checking Account
0.30%
$0
View
▼
Rate0.30%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details

No additional details provided.

Eastman Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.31%
Beyond Free Business Checking
0.30%
$0
View
▼
Rate0.30%
Min Deposit$0
Min Balance—
UpdatedMar 25, 2026
Details

$100,000 or greater

Listerhill Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 4.62%
Business High Yield Checking Account
0.25%
$0
View
▼
Rate0.25%
Min Deposit$0
Min Balance—
UpdatedMar 24, 2026
Details

Effective 3/1/2026

Memphis, TN Checking Rate Trends

Compare local Memphis, TN checking rate quotes against the statewide average

Daily checking rate averages tracked across our database of 8,500+ banks and credit unions — updated every evening.

View Full Tennessee Checking Trends →
High-Yield Checking — TN Avg
2.940%
▲ 1.578 vs 7 days ago

Tennessee high-yield checking rates rose 1.578 points over the past 7 days to 2.940% APY.

Free Checking — TN Avg
1.044%
▲ 0.720 vs 7 days ago

Tennessee free checking rates rose 0.720 points over the past 7 days to 1.044% APY.

As of Apr 5, 2026 • Rate data sourced from 8,500+ monitored institutions Powered by MonitorBankRates

Methodology & Data Sources

Direct-Sourced & Verified Checking Rate Data: We aggregate checking account rates for Memphis, Tennessee directly from the official websites of banks and credit unions using a combination of our proprietary rate aggregation technology and a dedicated team of rate updaters. By pulling this data straight from the institutions’ own digital properties and manually verifying the yields daily, we ensure that every checking rate displayed on MonitorBankRates.com is highly accurate and trustworthy.

Local, Regional, and National Coverage: Our systems and team constantly monitor the market to provide a complete picture of available yields in Memphis, Tennessee. We feature a comprehensive mix of financial institutions, allowing you to easily compare localized checking rates from neighborhood credit unions, competitive offers from mid-sized regional banks, and high-yield checking accounts available to account holders in TN.

Daily Updates & Time-Stamped Accuracy: To maintain the highest level of data integrity, our rate updaters verify and update checking rates daily. Because checking account yields can fluctuate based on market conditions, every single checking product listed on our platform features its own specific “last updated” date.

Frequently Asked Questions

Do checking accounts in Memphis, Tennessee earn interest?

Most traditional local checking accounts in Memphis, Tennessee earn 0% interest. However, High-Yield Checking or Rewards Checking accounts from online banks and select local credit unions can pay interest rates comparable to savings accounts.

Are banks in Memphis, Tennessee FDIC insured?

Yes. Legitimate banks with branches in Memphis, Tennessee are FDIC insured up to $250,000 per depositor. Local Credit Unions are similarly insured by the NCUA.

What fees should I watch out for?

Common fees include Monthly Maintenance Fees (often waivable with direct deposit), Overdraft Fees, and Out-of-Network ATM fees. We recommend looking for “Free Checking” accounts that explicitly state no monthly fees.

What is a Rewards Checking account?

Rewards Checking accounts (sometimes called Kasasa accounts) offer high interest rates or cash back on debit card purchases in exchange for meeting monthly requirements like a minimum number of debit card transactions, direct deposit enrollment, or e-statement signup.

Best Checking Rates in Memphis, Tennessee

Based on our current data, some of the highest checking account APYs available to residents of Memphis, Tennessee include:
  • FedTrust Federal Credit Union
    Rewards Checking — 4.59% APY
  • FAA Federal Credit Union
    Dividend Plus Checking — 3.52% APY
  • FirstBank (TN)
    FirstRewards Checking — 1.51% APY
  • UPS Employees Credit Union
    Share (Checking) Draft — 0.25% APY
  • Southern Security Federal Credit Union
    Share Draft (Checking) — 0.20% APY
Checking Account Rates reflect actual verified offers from banks and credit unions actively accepting deposits in Memphis, Tennessee. Your final available rate may depend on qualifying activity and daily market movements. Last Updated and Verified: April 5, 2026

Memphis, Tennessee Rates & Resources

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