I first reported on Credit Union West in 2007 when it was offering a reward checking account called Star Checking. Back in the early days the Star Checking was a very competitive reward checking account, but that ended in 2011. It appears Credit Union West is again trying to offer a competitive reward checking account under the Kasasa brand. The checking account is called Kasasa Cash. Below is a list of the account rates and features that are listed in the credit union’s Kasasa Cash page as of 5/23/2013:
Rates if monthly requirements are met:
- 2.01% APY for balances up to $10,000
- 0.05% APY for portion of balance over $10,000
- 0.01% APY on entire balance if requirements are not met
- ATM fees automatically reimbursed for fees up to $4.99 per item to a maximum amount of $25 per month
Monthly requirements include:
- 15 debit card purchases
- One direct deposit
- Receive e-statements
There is no monthly service fee, and online bill pay is free. Only one account is allowed per social security number.
Credit Union Membership
Membership is open to all who live, work or worship in Arizona’s Maricopa or Yavapai counties. Please refer to the credit union’s About Us page for more details.
Credit Union Overview
Credit Union West branches are located in Phoenix and in the Phoenix suburbs. There are also branches in Prescott and Cottonwood, AZ.
The credit union has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas ratio of 1.43% (excellent) based on December 2012 data. Please refer to our financial summary of Credit Union West for more details. The credit union is federally insured by the NCUA (Charter # 68421).
How this Reward Checking Account Compares
Credit Union West’s $10K balance cap is one downside to the Kasasa Cash account. Unfortunately, this $10K cap is becoming more common especially for new Kasasa Cash accounts.
You can get better reward checking deals at a few all-access credit unions. The best deal for a $10K balance cap is currently at Great Lakes Credit Union which has a 4.00% APY. For a $15K balance cap, the best rate is 3.25% APY at Belvoir FCU, and for a $25K balance cap, the best rate is 2.02% APY at ABCO FCU.
If you live in Phoenix and you prefer to bank locally, this Credit Union West deal is hard to beat unless you’re a Southwest Airlines employee who can qualify for Southwest Airlines FCU. It has a reward checking account with a 4% APY for balances up to $25K. 1st Bank Yuma has a reward checking account with a 3% APY for balances up to $25K, but this bank only has branches in Yuma, AZ.
The above rates are accurate as of 5/23/2013.
Other Reward Checking Accounts
To find reward checking accounts available in your state, please refer to our reward checking table. You can also use the table to find reward checking accounts available nationwide. Refer to this post to learn how to use the table.
To learn more about reward checking accounts, please refer to my post 10 Common Traits of High-Yield Reward Checking Accounts.