5Star Bank Offers Kasasa Product Line Nationwide

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Deal Summary: Kasasa Cash Checking, 2.00% APY, up to $25k; Kasasa Saver, 0.75% APY, up to $50k.

Availability: Nationwide.

Colorado-based 5Star Bank’s Kasasa product line is available nationwide. The Kasasa Cash Checking currently earns 2.00% APY on qualifying balances up to $25k. Qualifying balances of $25k+ earn 0.15% APY, with non-qualifying balances earning 0.01% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.00*%-$25k5Star BankKasasa Cash Checking
OTHER TIERS: 0.15% $25k+
Accounts mentioned in this post. Rates as of December 10, 2017.

Kasasa Cash Checking Qualifying Requirements

  • Have at least 12 debit card purchases.
  • Enroll in and receive eStatements.
  • Enroll in and log into online banking.

The Kasasa Cash Checking account has no monthly service or minimum balance requirement, but does require a minimum $50 opening deposit. Nationwide ATM fees will be reimbursed up to $20 per month, if the qualifying requirements are met. Individual ATM fees of $5 or higher require a receipt for reimbursement.

Kasasa Saver

The Kasasa Saver account links to the Kasasa Cash Check account, with automatic transfer of Kasasa Cash Checking earnings on a monthly basis. Qualifying balances earn 0.75% APY up to $50k, with qualifying balances of $50k+ earning 0.15% APY; non-qualifying balances earn 0.01% APY. It’s a bit disappointing to see the Kasasa Saver with such a low APY, when the companion Kasasa Cash Checking account has a competitive APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
0.75*%-$50k5Star BankKasasa Saver
OTHER TIERS: 0.15% $50k+
Accounts mentioned in this post. Rates as of December 10, 2017.

Availability

Headquartered in Colorado Savings, 5Star Bank offers its Kasasa Cash Checking and Kasasa Saver accounts to all U.S. residents who have a valid Social Security number.

Opening Kasasa Cash Check and Kasasa Saver accounts can be done online, or in person at any of the three Colorado branches, all located in Colorado Springs.

Note: Here’s my usual disclaimer - even though a bank may say its products are available nationwide, smaller banks occasionally find that demand may outpace their online banking platform’s ability. Caveat emptor.

Bank Overview

5Star Bank has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 3.44% (excellent), based on December 31, 2016 data. In the past year, 5Star Bank has increased its total non-brokered deposits by $11.64 million, an excellent annual growth rate of 9.05%. Please refer to our financial overview of 5Star Bank (FDIC Certificate # 91005) for more details.

Established in 1980 as the Citizens Industrial Bank in Littleton, Colorado, the Bank operated for the first five years without benefit of FDIC insurance. The Bank was re-branded in 1985 as the Littleton U.S. Industrial Bank, this time with FDIC backing. The next six years saw the acquisition of the Grand Junction U.S. Industrial Bank, two name changes, and the relocation of Bank headquarters to Colorado Springs; the 5Star Bank re-brand occurred in 2000. In May 2015, 5Star Bank was acquired by a local group of investors and members of the Bank’s management, bringing the Bank under the ownership of the Colorado Springs community.

How the Kasasa Cash Compares

When compared to the 16 High Yield RCAs tracked by DepositAccounts.com that are available nationwide and have maximum qualifying balances of at least $25k, 5Star Bank’s Kasasa Cash Checking APY currently ranks fifth.

The above rates are accurate as of 5/2/2017.

To look for the best Reward Checking Account rates, both nationwide and in your state, please refer to our High Yield Reward Checking Account rates table or our Rates Map page.

Related Pages: Colorado Springs checking accounts, reward checking accounts, nationwide deals

Comments
Top 5-Year Bank CD Rate at 5Star Bank - Nationally Available

Update 10/13/2011: The 5-year CD rate has fallen.

If you're looking for a long-term CD, many credit unions continue to offer higher rates than banks. I reviewed many of these last Friday. If you prefer a bank, 5Star Bank is currently a good choice. It's offering a 5-year CD with a 2.25% APY. Its other CD terms are not quite as competitive. Minimum deposit is $1,000. This 5-year CD rate is listed in the bank's rates page as of 10/10/2011.

I called the bank on Friday and confirmed that the CDs are...



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