Redneck Bank – "Where bankin's funner!"

First there was Tightwad Bank in Tightwad, Missouri. Now, in other kitschy financial institution name news, there's Redneck Bank. And it's not just a gimmick. It actually seems to be a respectable place to put your cash.

Redneck is currently offering a 3.1 percent yield, with no minimum deposit, on balances of up to $35,000 (1.65 percent on balances exceeding that) in its mega money market account. That's considerably better than two of the biggest online banks' money market offerings, ING Direct's 1.5 percent APY or HSBC Direct's 1.65 percent. 

We haven't tried Redneck, but Bankrate.com gave its parent bank four stars out of a possible five. Redneck is owned by Bank of the Wichitas, based in Oklahoma, which has been in business since 1913.

Redneck is an online bank, so you're not going to find a branch near you. But you get six free withdrawals per month ($5 each after that). You can withdraw money via free online transfers, or by writing checks, though you'll have to pay $12.80 for a book of checks.

You also get a bright-red debit/ATM card with a picture of a talking horse on it. Redneck charges 75 cents for each ATM withdrawal in addition to whatever the bank you withdraw from charges you. 

If you use ATMs, you might be better off with Redneck's rewards checking account, which reimburses ATM fees charged by any bank worldwide. It pays an attractive 5.25 percent on the first $10,000 in deposits and 2.25 percent on everything past that. However, you have to make 10 purchases a month with its linked debit card. If you don't, the yield on your account gets knocked down to 0.25 percent.

Apparently a lot of people want to bank with Redneck. The bank says it isn't accepting new accounts right now because it has too many applications to process. But a customer service rep assured us that it would be taking new applications within a week. — Chris Fichera