Kemba Credit Union (Cincinnati) Lowers RCA Rate

In an e-mail sent to all Get Green Checking account owners, Kemba Credit Union announced it is lowering its RCA rate from 3.50% APY to 2.50% APY, effective 2/1/13. Additionally, Kemba will no longer offer ATM refunds. The $15,000 cap remains unchanged.

The effective date of the rate change is, in fact, February 1st.  I have copied and pasted the e-mail I received on New Year's Eve from Kemba.

Dear Kemba Member,

I’m writing to you today to share upcoming changes to Kemba’s Get Green Checking account. As you know, we are still in a period of historically low interest rates, and this economy necessitates a change to Get Green Checking. Effective February 1, 2013 Kemba will pay 2.50% Annual Percentage Yield (APY) on qualifying Get Green Checking accounts.

As you may know, many banks are charging a monthly fee for their checking accounts, while Kemba continues to pay you. This is just one example of how Kemba Credit Union “gives back” to you, the member-owner.

For your convenience, Kemba offers more than 40,000 surcharge free ATMs throughout the United States. On February 1, 2013 we will no longer offer ATM refunds on Get Green Checking accounts. Visit kemba.com for surcharge free ATM locations.

We thank you for your continued loyalty to Kemba Credit Union. If you have any questions, please call us at 513.762.5070 or visit us online at kemba.com.

Dan Sutton

Executive Vice President/COO