MonitorBankRates
☰
Home › Checking Accounts › Tennessee Checking › Memphis, Tennessee iAdvertiser Disclosure
Advertiser Disclosure Some of the institutions listed may have a business relationship with MonitorBankRates. However, our proprietary systems independently track and verify all rates and data displayed. Advertiser relationships do not influence our Health Safety Rating, Star Ratings or Texas Ratio calculation, or the rates shown.

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

Content reviewed by
Brian McKay Brian McKay
Brian McKay

Brian McKay

Founder & Data Architect
Expertise
  • Automated Online Rate Data Aggregation
  • Location-Based Rate Tables
  • Bank & Credit Union Health Safety Ratings
  • Bank & Credit Union Star Ratings
  • Finance Calculators
Brian is the Founder of MonitorBankRates.com. For over 18 years, he has utilized his background in enterprise infrastructure to engineer proprietary systems that track rates from over 8,000 financial institutions.
Read Full Bio →
| 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: May 7, 2026

The best checking rates for Memphis, Tennessee include Orion Federal Credit UnionOrion Federal Credit Union3155 Millbranch Rd, Memphis, TN 38116 1917A+5.0 ★Texas Ratio: 2.42% Checking Account at 5.00% APY, Hope Federal Credit Union Jackson, MSHope Federal Credit Union Jackson, MS1451 Madison Ave, Memphis, TN 38104A+5.0 ★Texas Ratio: 0.03% HOPE Rewards Checking and Checking Plus Accounts at 0.50% APY, FsnbFsnb3950 Austin Peay Hwy, Memphis, TN 38128A5.0 ★Texas Ratio: 12.00% Advanced Checking at 0.05% APY, Firefighters First Federal Credit UnionFirefighters First Federal Credit Union5150 Stage Rd Ste 102, Memphis, TN 38134 3169A+5.0 ★Texas Ratio: 1.58% Ready Checking at 0.05% APY, and Nucor Employees Credit UnionNucor Employees Credit Union3601 Paul R Lowry Rd, Memphis, TN 38109 3007A+5.0 ★Texas Ratio: 1.73% Share Draft (Checking) at 0.05% APY. Checking account rates as of May 7, 2026 according to verified data from MonitorBankRates.

Memphis has 8 local institutions in our database, with checking rates as high as 5.00% APY from Orion Federal Credit Union at 3155 Millbranch Rd, Memphis, TN, 38116 1917. 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: May 7, 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
Orion Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.42%
3155 Millbranch Rd
Memphis, TN 38116 1917
Checking Account
5.00%
$0
View
▼
Rate4.96%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

No additional details provided.

Orion Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.42%
3155 Millbranch Rd
Memphis, TN 38116 1917
Checking Account
2.64%
$0
View
▼
Rate3.50%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

No additional details provided.

Orion Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.42%
3155 Millbranch Rd
Memphis, TN 38116 1917
Checking Account
2.21%
$0
View
▼
Rate3.00%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

No additional details provided.

Hope Federal Credit Union Jackson, MS
Institution Rating:
A+5.0 ★ Texas Ratio: 0.03%
1451 Madison Ave
Memphis, TN 38104
HOPE Rewards Checking and Checking Plus Accounts
0.50%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

On balances over $10,000

Hope Federal Credit Union Jackson, MS
Institution Rating:
A+5.0 ★ Texas Ratio: 0.03%
1451 Madison Ave
Memphis, TN 38104
HOPE Rewards Checking and Checking Plus Accounts
0.10%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

When Qualifications Not Met

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—
UpdatedMay 5, 2026
Details

Minimum Balance to Open Account: $5.00

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—
UpdatedMay 2, 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—
UpdatedMay 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
Extras Checking
0.03%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 7, 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—
UpdatedMay 7, 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—
UpdatedMay 2, 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—
UpdatedMay 6, 2026
Details

No additional details provided.

Owensboro Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 0.79%
2650 Thousand Oaks Blvd Ste 1120
Memphis, TN 38118 2449
Checking
0.00%
$25
View
▼
Rate0.00%
Min Deposit$25
Min Balance—
UpdatedMay 6, 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—
UpdatedMay 2, 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—
UpdatedMay 7, 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—
UpdatedMay 2, 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—
UpdatedMay 7, 2026
Details

based on qualifying criteria**

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—
UpdatedMay 6, 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—
UpdatedApr 19, 2026
Details

Qualifications Required

Appalachian Community Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.21%
Summit Business Checking Business
2.03%
$0
View
▼
Rate2.01%
Min Deposit$0
Min Balance—
UpdatedMay 7, 2026
Details

No additional details provided.

Source: Verified Checking Rate Data provided by MonitorBankRates
Institution
Product
APY
Min Deposit
Profile
Orion Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.42%
3155 Millbranch Rd
Memphis, TN 38116 1917
Checking Account
5.00%
$0
View
▼
Rate4.96%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

No additional details provided.

Orion Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.42%
3155 Millbranch Rd
Memphis, TN 38116 1917
Checking Account
2.64%
$0
View
▼
Rate3.50%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

No additional details provided.

Orion Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.42%
3155 Millbranch Rd
Memphis, TN 38116 1917
Checking Account
2.21%
$0
View
▼
Rate3.00%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

No additional details provided.

Hope Federal Credit Union Jackson, MS
Institution Rating:
A+5.0 ★ Texas Ratio: 0.03%
1451 Madison Ave
Memphis, TN 38104
HOPE Rewards Checking and Checking Plus Accounts
0.50%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

On balances over $10,000

Hope Federal Credit Union Jackson, MS
Institution Rating:
A+5.0 ★ Texas Ratio: 0.03%
1451 Madison Ave
Memphis, TN 38104
HOPE Rewards Checking and Checking Plus Accounts
0.10%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

When Qualifications Not Met

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—
UpdatedMay 2, 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—
UpdatedMay 7, 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—
UpdatedMay 2, 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—
UpdatedMay 7, 2026
Details

based on qualifying criteria**

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—
UpdatedMay 6, 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—
UpdatedApr 19, 2026
Details

Qualifications Required

Eclipse Bank
Institution Rating:
A+5.0 ★ Texas Ratio: 1.64%
Opulent Checking
2.02%
$0
View
▼
Rate2.00%
Min Deposit$0
Min Balance—
UpdatedMay 5, 2026
Details

Qualifying balance up to $250,000.00

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—
UpdatedMay 5, 2026
Details

No additional details provided.

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—
UpdatedMay 6, 2026
Details

No additional details provided.

Eclipse Bank
Institution Rating:
A+5.0 ★ Texas Ratio: 1.64%
Charitable Interest Checking
0.30%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 5, 2026
Details

No additional details provided.

SouthEast Bank
Institution Rating:
C-3.6 ★ Texas Ratio: 31.66%
Premium Interest Checking
0.15%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 5, 2026
Details

No additional details provided.

Staley Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 0.82%
Staley Platinum Checking
0.13%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

No additional details provided.

Redstone Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.00%
Endeavor Plus Checking
0.10%
$0
View
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMay 6, 2026
Details

No additional details provided.

SouthEast Bank
Institution Rating:
C-3.6 ★ Texas Ratio: 31.66%
Premium Interest Checking
0.10%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 5, 2026
Details

No additional details provided.

Staley Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 0.82%
Staley Platinum Checking
0.08%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

No additional details provided.

Source: Verified Checking Rate Data provided by MonitorBankRates
Institution
Product
APY
Min Deposit
Profile
Hope Federal Credit Union Jackson, MS
Institution Rating:
A+5.0 ★ Texas Ratio: 0.03%
1451 Madison Ave
Memphis, TN 38104
HOPE Rewards Checking and Checking Plus Accounts
0.50%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

On balances over $10,000

Hope Federal Credit Union Jackson, MS
Institution Rating:
A+5.0 ★ Texas Ratio: 0.03%
1451 Madison Ave
Memphis, TN 38104
HOPE Rewards Checking and Checking Plus Accounts
0.10%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

When Qualifications Not Met

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—
UpdatedMay 2, 2026
Details

Qualifying balance up to $10,000.00

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—
UpdatedMay 6, 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—
UpdatedMay 6, 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—
UpdatedMay 2, 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—
UpdatedMay 7, 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 19, 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—
UpdatedMay 7, 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—
UpdatedMay 7, 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—
UpdatedMay 6, 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—
UpdatedApr 19, 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—
UpdatedMay 2, 2026
Details

No additional details provided.

Source: Verified Checking Rate Data provided by MonitorBankRates
Institution
Product
APY
Min Deposit
Profile
Appalachian Community Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.21%
Summit Business Checking Business
2.03%
$0
View
▼
Rate2.01%
Min Deposit$0
Min Balance—
UpdatedMay 7, 2026
Details

No additional details provided.

Appalachian Community Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.21%
Summit Business Checking Business
0.75%
$0
View
▼
Rate0.75%
Min Deposit$0
Min Balance—
UpdatedMay 7, 2026
Details

No additional details provided.

Appalachian Community Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.21%
Summit Business Checking Business
0.65%
$0
View
▼
Rate0.65%
Min Deposit$0
Min Balance—
UpdatedMay 7, 2026
Details

No additional details provided.

Appalachian Community Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 1.21%
Summit Business Checking Business
0.55%
$0
View
▼
Rate0.55%
Min Deposit$0
Min Balance—
UpdatedMay 7, 2026
Details

No additional details provided.

Knoxville TVA Employees Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.39%
Preferred Business Checking Account Business
0.30%
$0
View
▼
Rate0.30%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

No additional details provided.

Ascend Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.48%
Business Basic Checking Business
0.20%
$0
View
▼
Rate0.20%
Min Deposit$0
Min Balance—
UpdatedMay 6, 2026
Details

No additional details provided.

Tennessee State Bank
Institution Rating:
A+5.0 ★ Texas Ratio: 0.56%
Commercial NOW Checking Business
0.15%
$100
View
▼
Rate0.15%
Min Deposit$100
Min Balance—
UpdatedMay 4, 2026
Details

No additional details provided.

American Airlines Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.63%
Business Checking Business
0.15%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 7, 2026
Details

No additional details provided.

Knoxville TVA Employees Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.39%
Business Checking Account Business
0.15%
$0
View
▼
Rate0.15%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

No additional details provided.

Eclipse Bank
Institution Rating:
A+5.0 ★ Texas Ratio: 1.64%
Business Interest Checking Business
0.10%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 5, 2026
Details

No additional details provided.

Y-12 Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.14%
Advantage Business Checking Business
0.10%
$0
View
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMay 6, 2026
Details

$5,000 and up

Y-12 Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.14%
Premier Business Checking Business
0.10%
$0
View
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMay 6, 2026
Details

$5,000 and up

Knoxville TVA Employees Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.39%
Preferred Business Checking Account Business
0.10%
$0
View
▼
Rate0.10%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

No additional details provided.

First Commerce Bank Lewisburg, TN
Institution Rating:
A+5.0 ★ Texas Ratio: 0.15%
Business Interest Checking Business
0.05%
$0
View
▼
Rate0.05%
Min Deposit$0
Min Balance—
UpdatedMay 5, 2026
Details

No additional details provided.

Y-12 Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.14%
Premier Business Checking Business
0.05%
$0
View
▼
Rate0.05%
Min Deposit$0
Min Balance—
UpdatedMay 6, 2026
Details

$0-$4,999

Y-12 Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.14%
Advantage Business Checking Business
0.03%
$0
View
▼
Rate0.03%
Min Deposit$0
Min Balance—
UpdatedMay 6, 2026
Details

$1,500-$4,999

Ascend Federal Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 2.48%
Business Free Checking Business
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 6, 2026
Details

No additional details provided.

Knoxville TVA Employees Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.39%
Business Checking Account Business
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

No additional details provided.

Knoxville TVA Employees Credit Union
Institution Rating:
A+5.0 ★ Texas Ratio: 3.39%
Free Business Checking Account Business
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 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 Business
0.00%
$0
View
▼
Rate0.00%
Min Deposit$0
Min Balance—
UpdatedMay 2, 2026
Details

No additional details provided.

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
1.607%
▼ 0.228 vs 7 days ago

Tennessee high-yield checking rates fell 0.228 points over the past 7 days to 1.607% APY.

Free Checking — TN Avg
0.933%
▲ 0.001 vs 7 days ago

Tennessee free checking rates rose 0.001 points over the past 7 days to 0.933% APY.

As of May 8, 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:
  • Orion Federal Credit Union
    Checking Account — 5.00% APY
  • Hope Federal Credit Union Jackson, MS
    HOPE Rewards Checking and Checking Plus Accounts — 0.50% APY
  • Fsnb
    Advanced Checking — 0.05% APY
  • Firefighters First Federal Credit Union
    Ready Checking — 0.05% APY
  • Nucor Employees Credit Union
    Share Draft (Checking) — 0.05% 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: May 7, 2026

Memphis, Tennessee Rates & Resources

$
Memphis, Tennessee CD Rates
$
Memphis, Tennessee Savings Rates
$
Memphis, Tennessee Money Market Rates
$
Memphis, Tennessee Mortgage Rates
$
Memphis, Tennessee Auto Loan Rates
$
Memphis, Tennessee Personal Loan Rates