Centric FCU's New Earn Better Checking Earns 4.15% APY Up To $20k
Three years ago this month, I wrote about Centric Federal Credit Union’s (Centric FCU) new Kasasa Cash (3.25% APY, up to $10k) and Kasasa Saver (1.01% APY up to $50k) accounts. Centric FCU is no longer offering the Kasasa brand product line, and instead is offering the aptly-named Earn Better Checking and Save Better accounts. According to CSR, existing Kasasa Cash and Saver accounts have been converted to Earn Better Checking and Save Better accounts.
Earn Better Checking
The Earn Better Checking earns 4.15% APY on qualifying balances up to $20k. Qualifying balances over $20k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 2.25*% | - | $20k | Centric Federal Credit Union | Earn Better Checking | |
| OTHER TIERS: 0.15% → $20k+ | |||||
The qualifying requirements are fairly standard:
- Have at least 12 debit card purchases.
- Have at least one direct deposit or ACH credit.
- Be enrolled in eStatements.
The Earn Better Checking has no monthly service fee or minimum balance requirement, but does required a minimum $25 opening deposit. Nationwide ATM fees will be reimbursed up to $25 per month, with a receipt required for any individual ATM fee of $5 or more.
Save Better Account
The Save Better account earns 2.01% APY on qualifying balances up to $50k. Qualifying balances over $50k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 1.01*% | - | $50k | Centric Federal Credit Union | Save Better | |
| OTHER TIERS: 0.15% → $50k+ | |||||
Like the Earn Better Checking, the Save Better account has no monthly service fee or minimum balance requirement, but does required a minimum $25 opening deposit. Rewards earned in the Earn Better Checking automatically transfer to the Save Better account at the end of monthly cycle.
Availability
Headquartered in West Monroe in northern Louisiana, Centric Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in Ouachita or Lincoln Parishes eligible for membership.
In addition, any business or other legal entity in Ouachita and Lincoln Parishes also qualify for membership.
Joining Centric FCU and opening a Kasasa Cash account can be done online, or at any of five Louisiana branches located in Monroe (2), Ruston, or West Monroe (2).
You can become a Member of Centric simply by depositing $5 in a
Centric savings account and paying a one-time membership fee of $3.
Centric FCU participates in the CO-OP Shared Branch network, offering its members access to 3,500 credit unions with more than 5,000 branches, and nearly 30,000 surcharge-free ATMs nationwide.
Enjoy in-branch service from coast to coast through thousands of CO-OP credit unions.
Credit Union Overview
Centric Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 8.1% (excellent) based on March 31, 2019 data. In the past year, Centric FCU has increased its total deposits by $17.55 million, an excellent annual growth rate of 12.33%. Please refer to our financial overview of Central Federal Credit Union (NCUA Charter # 1982) for more details.
Founded in 1937 as the Forest Kraft Federal Credit Union, Centric Federal Credit Union is currently Louisiana’s 17th largest credit union, with more than 22,700 members and assets in excess of $194 million. The original FOM included the employees of the Brown Paper Mill, which was established in 1932 as the first American Kraft paper mill. The merger with Glenwood Federal Credit Union, an expansion into Lincoln Parish, and the change to a community charter resulted in the Centric Federal Credit Union rebrand in 2008.
How the Earn Better Checking Compares
When compared to 22 High Yield Reward Checking Accounts tracked by DepositAccounts.com, which are available within the FOM and have maximum qualifying balances of at least $20k, Centric Federal Credit Union’s Earn Better Checking APY currently ranks first.
The above rates are accurate as of 6/13/2019.
To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.
