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Pelican State Credit Union Dropped Their Limit...

Friday, April 6, 2012 - 2:09 PMPelican State Credit Union - Details
from (4.01%, $20K) to (4.01%, $10K). 

They changed their Extrabonus checking to Kasasa Cash Checking.

It is not a good month for me, with the Erie GE and PSCU changes.

I need to think what to do next:-)
5
51hh51hh1,460 posts since
Jan 16, 2010
Rep Points: 6,346
1. Friday, April 6, 2012 - 3:06 PM
Thanks for the heads up 51hh.  I too am considering my next move - a 15 transaction requirement for $10K is steep.    There are better deals out there. 

Ken, DA tables continue to show the rate as being effective through a maximum of $20K.    The Pelican State web site states the change was effective 4/2. 
1
pearlbrownpearlbrown1,356 posts since
Nov 2, 2010
Rep Points: 5,954
2. Friday, April 6, 2012 - 3:40 PM
Seems like low balance caps are becoming common for Kasasa accounts.

I've updated the balance cap so it now shows $10K (we can't easily find these changes). I've also changed the name to Kasasa, but this isn't being shown in our tables yet. I think it should take effect by tomorrow.
1
Ken TuminKen Tumin5,441 posts since
Nov 29, 2009
Rep Points: 123,651
3. Friday, April 6, 2012 - 5:33 PM
This is the second RCA this week offering over 2.5% (Coulee on 4/1) that switched to Kasasa and lowered its cap. Is Kasasa trying to reassert its place in the RCA marketplace by going to independent banks and convincing them that the only way to continue in the RCA business is to join their network and lower their caps? This could be a very unhealthy trend for those of us who rely on RCAs for interest income.

Then the question will be what's next? If Kasasa can gain a strong position in the marketplace, do they advise all their members that interest rates need be no higher than 2%?
2
dunkerdunker135 posts since
Jun 11, 2010
Rep Points: 403
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