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Coulee Bank rate cut To 2.55%, Same $25K Cap.

Wednesday, June 1, 2011 - 9:37 AMCoulee Bank - Details
From their website:

2.55% Annual Percentage Yield (APY) paid on balances between $.01 and $25,000, and 0.30% APY paid on all amounts above $25,000 each cycle the minimum requirements are met. If you do not meet the requirements during a given cycle, you will earn the Standard Rate of 0.10% APY. Rates as of June 1, 2011. We may change the interest rate and APY at any time after the account is opened. No minimum balance required, however you must deposit a minimum of $50 to open this account. Available to personal accounts only. No monthly service charge. If you do not meet the requirements per cycle, your account will still function as a free checking account earning the Standard Rate, however it will not receive ATM Refunds for that time period. Coulee Bank will only accept Free Rewards Checking applications from applicants residing in the states of Wisconsin, Minnesota, and Iowa.
AtlantaWolfAtlantaWolf40 posts since
Jan 16, 2010
Rep Points: 187
1. Wednesday, June 1, 2011 - 12:13 PM
Down from 3.03% APY.
WhataBummerWhataBummer413 posts since
Oct 15, 2010
Rep Points: 1,702
2. Wednesday, June 1, 2011 - 12:48 PM
With Farmers & Mercants and Coulee both dropping to the 2.5% range in the past week, this may soon replace 3% as the most we can expect on accounts of at least 25K.
dunkerdunker136 posts since
Jun 11, 2010
Rep Points: 409
3. Wednesday, June 1, 2011 - 7:54 PM
3% is my absolute lower limit for RCAs, below which it is simply not worthwhile to do all these chores with the added fraud risk on debit cards.
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
4. Sunday, April 1, 2012 - 2:06 PM
Summary of email received 4/1/2012: Cap reduced to $15k starting May 1st, 2012. 

Rewards Checking Account Gets New Identity

Let us introduce you to Kasasa Great news! Coulee Bank's Free Rewards checking account is getting a new name and a new identity: Kasasa Cash™. Kasasa Cash is still a free checking account, and of course, it still pays you 2.55% Annual Percentage Yield (APY) in cold hard cash. That's more cash in your pocket each month to do with what you want. After all, it's your money, so you should benefit the most from it.

The current Free Rewards Checking tier structure is that you earn 2.55% on balances between $0.01 and $25,000. You will continue to earn 2.55% with Kasasa Cash, but the tier will change to balances between $0.01 and $15,000. All balances over $15,000 will still earn 0.30%. The change from your Free Rewards account to your free Kasasa Cash account will be effective May 1, 2012. Your current Free Rewards account number will stay the same. At this time, there is no action required on your part.

Plus, we are introducing even more choices like Kasasa Saver™, which can be linked to your Kasasa Cash account. With Kasasa Saver you will earn 1.00% on balances between $0.01 and $15,000 and all balances over $15,000 will earn 0.30%. We will also begin opening the Kasasa Saver account on May 1, 2012.
AtlantaWolfAtlantaWolf40 posts since
Jan 16, 2010
Rep Points: 187
5. Wednesday, May 2, 2012 - 1:13 AM
Talk about a sneaky "back door" approach instead of just lowering the interest rate.. AGAIN! I'm really getting sick and tired of Coulee Bank. Are they seriously more concerned about putting MORE money in their OWN pockets? Ever since they introduced Rewards Checking (now Kasasa) the interest rate and/or requirements have only gotten worse. And by the way.. what the heck is Kasasa? Weird.
minnesotagirlminnesotagirl3 posts since
May 2, 2012
Rep Points: 7
6. Friday, May 4, 2012 - 11:57 AM
Coulee gave its customers a month's notice, which is up front - "front door" and the antithesis of "sneaky." They're choosing to keep the rate, which they've already maintained for almost a year, so good for them. They may have re-named the product (and "Kasasa" strange as it sounds is familiar to those following reward checking, thanks to KenBDG), but essentially all they did was lower the cap similar to many others places. It is lamentable overall but far from particular to them.  Plus, they added as a convenient option, a 1% attached savings. Any rate or cap drop continues to be maddening, but that's this economy. 

They seem to have handled it showing respect and care for their customers.  A month's notice gives customers time to research and execute moving their money somewhere else in the most efficient way. Though the reality is, it's getting harder to find better products.  At least, any money over the new 15k cap can immediately earn a competitive 1% (up to another 15k).  Customers could arrange in advance to move excess money to the new savings account effective the date of the change, so there'd be no lapse in earnings.

I was impressed seeing Coulee execs respond to posts here, especially inviting direct communication with them. I don't know any of them, had never heard of them, but their actions indicate a regard for their customers that's become rare.  Maybe it's only because this economy has turned so many banks and credit unions into seemingly overwhelmed scrambling fools, that by comparison makes this bank seem quite professional how they handled what are sadly industry-wide changes.

Btw, I also like that they have next-day ACH in or out. Limited to 4 external accts that strangely must be named when acct was opened, then $10 fee to change any later,). Daily ach limits are 3 outbound and 3 inbound, with total daily caps of 10k out and 15k in. But as always, double check for any updated changes.
ekatekat75 posts since
Jan 22, 2010
Rep Points: 246