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New Reward Checking and Savings Accounts at Hopewell Valley Community Bank in NJ

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Hopewell Valley Community Bank

We’re not seeing as many new reward checking accounts as we used to, but we still see a few new ones. A reward checking account and savings account under the Kasasa brand were recently launched by Hopewell Valley Community Bank in New Jersey. New Kasasa accounts typically don’t have the high balance caps that we were used to a few years ago. That’s the case at Hopewell. Nevertheless, these new Kasasa accounts can still be a good deal for those in the Hopewell market area looking for a local free checking account. Below is a summary of Hopewell’s Kasasa accounts based on the bank’s Kasasa Cash and Kasasa Saver pages as of 1/21/2014:

DETAILSINSTITUTIONAPYMINMAXPRODUCT
Hopewell Valley Community Bank2.00%-$10kKasasa Cash
Hopewell Valley Community Bank1.00%-$15kKasasa Saver
Accounts mentioned in this post. Rates as of April 16, 2014

Kasasa Cash rates and ATM fee refunds if monthly requirements are met:

  • 2.00% APY on balances up to $10,000
  • 0.30% interest rate on portion of balance over $10,000
  • 0.05% APY on entire balance if requirements are not met
  • ATM fee refunds nationwide (up to $25 monthly)

Kasasa Saver rates if monthly requirements are met:

  • 1.00% APY on balances up to $15,000
  • 0.30% interest rate on portion of balance over $15,000
  • 0.05% APY on entire balance if requirements are not met

Monthly requirements to qualify for the above rewards:

  • 12 debit card purchases
  • Receive e-statements
  • log into online banking

Both accounts have no minimum balance requirements and no monthly service fees. The Kasasa Cash account requires a $100 minimum initial deposit. There’s no minimum deposit for the Kasasa Saver account.

One nice feature of these Kasasa accounts is that they require no direct deposit.

Availability - Local Only

There’s an online application link at the bottom of both the Kasasa Cash and Kasasa Saver pages. This takes you to the start of the application. The second page of the application has the following note:

To open an account online with Hopewell Valley Community Bank you must reside within our market area in New Jersey or Pennsylvania.

You’re required to enter your zip code, and the application should verify if your zip code resides in their NJ and PA market area.

Bank Overview

Hopewell Valley Community Bank branches are located in several New Jersey townships and boroughs. Some of these include Pennington, Hamilton, Ewing, Princeton and Flemington.

The bank has an overall health grade at DepositAccounts.com of an A with a Texas ratio of 7.52% (excellent) based on September 2013 data. Please refer to our financial overview of Hopewell Valley Community Bank for more details. The bank has been a FDIC member since 1999 (FDIC Certificate # 34942).

How This Reward Checking Account Compares

This bank’s Kasasa Cash account is not quite to the level of the best reward checking accounts that are nationally available. The best nationwide deal is at INOVA Federal Credit Union which offers a 3.00% APY on balances up to $20K. Close behind is the Max Checking account at Lake Michigan Credit Union which offers 3.00% APY on balances up to $15K. Both of these institutions lack a reward savings account. Hopewell’s Kasasa Saver account is a nice feature for those who have more than $10K in savings. This allows customers to earn an interest rate that’s higher than what they can get from an internet savings account.

To find reward checking accounts that are nationally available or available within a state, please refer to the reward checking section of DepositAccounts.com. To learn more about reward checking, please refer to this reward checking overview.

  Tags: savings account, checking account, New Jersey, Pennsylvania, Hopewell Valley Community Bank

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