Ten credit unions are beating some of the country's largestbanks by a factor of three or more when it comes to rates oninterest bearing checking accounts, according to a new study by financial websiteGOBankingRates.com. The site ranked checking account ratesavailable based on its ongoing survey of deposit rates at more than4,000 financial institutions in the United States each month.

The New Berlin, Wisc.-based Landmark Credit Union, which has$2.7 billion in assets and 249,000 members, led the credit unionslist with its 7.50% APY on balances up to $500.

Balances over that earn 0.20% APY, according to the study.Seattle Metropolitan Credit Union of Seattle ($630 million, 43,000members), Gateway Metro Federal Credit Union of Swansea, Ill. ($171million, 15,000 members), School Employees Credit Union ofWashington ($1 billion, 82,000 members) in Seattle, GeorgiaHeritage Federal Credit Union of Savannah, Ga. ($85 million, 8,000members), Consumers Cooperative Credit Union of Gurnee, Ill. ($677million, 64,000 members), SAC Federal Credit Union of Bellevue,Neb. ($776 million, 88,000 members) of Neb., On the Grid FinancialFederal Credit Union ($39 million, 6,000 members) in Atlanta, HonorCredit Union of Saint Joseph, Mich. ($618 million, 57,000 members)and America's Federal Credit Union ($469 million, 42,000 members)of JBLM, Wash. rounded out the top ten, all bearing APYs of 5.00%or more.

“These rates topped out at 7.50% APY, which is more than fivetimes the highest national checking account rate of 1.40% APY.

Even the No. 10 local checking account rate of 5.00% APY beatsthe best national checking account rate by 3.5 times,” the studysaid.

The study noted that the rates on the credit unions' interestbearing checking accounts had balance limits, meaning they applyonly to the first $500 or $1,000, for example.

National banks generally did not have those restrictions thoughtheir overall rates were typically lower, the study said. Manynational banks also have balance minimums, direct depositrequirements, monthly fees and debit card use requirements, it added.

The 10 best national and online checking accounts carried anaverage APY of 0.22%, with the highest being 1.40% at EverBank. Theothers were Bank of Internet USA, BankUnited, Nationwide Bank,iGObanking.com, Huntington Bank, Capital One, Presidential Bank,Zions Bank, and a four-way tie among Arvest Bank, Commerce Bank,Union Bank and Wells Fargo for 10th place.