High Interest Checking Accounts

Rivermark Community Credit Union offers a checking account that pays 5.1% of the minimum balance now and no fees. The only catch is that you have to make 12 debit card transactions per month. Since this rate is significantly higher than any current CD or savings rate, I can see no objection to this agreement. Is it safe to use these accounts as an alternative to putting money in a CD or other type of savings?
If anyone has experience with this type of account, I would be grateful for their input on this subject.

Credit unions are generally FDIC insured - Check and make sure.
Assuming the account is insured by the FDIC, then it should not pose a risk to your money.

What to look for:
1) Make sure your account is FDIC insured (99% chance)
2) there are any charges for using your debit card?
3) What are the penalties / consequences for the production of less than 12 transactions per month?

In addition to issues raised by Paul, the rate may be a problem. If you intend to hold the money in this type of account for 10 years, you lack the rate of return on stocks that are usually higher.