Community National Bank (KS) Boosts Kasasa Brand Product APYs

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Deal Summary: Kasasa Cash, 6.00% APY on qualifying balances up to $30k. Kasasa Saver, 4.00% APY on qualifying balances up to $50k.

Availability: Kansas

Kasasa brand products, which includes the Kasasa Cash checking account and the Kasasa Saver savings account, offered by Community National Bank (CNB) have been part of the bank’s product line for more than six years. The Kasasa Cash’s initial 2.00% APY on qualifying balances up to $20k was in effect until December 2022, when the rate doubled and the qualifying balance cap increased from $20k to $30k. CNB recently boosted the Kasasa Cash rate to 6.00% APY on qualifying balances up to $30k. Qualifying balances over $30k now earn 1.00% APY (increased from 0.20% APY), with non-qualify balances continuing to earn 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
6.00*%-$30kCommunity National Bank (KS)Kasasa Cash Checking
OTHER TIERS: 1.00% $30k+
Rates as of February 20, 2024.

The monthly qualification requirements are straightforward and fairly standard.

  • At least 15 debit card purchases
  • At least one direct deposit or ACH auto debit transaction

The Kasasa Cash account has no minimum balance requirement or monthly service fee, but does require a $100 minimum opening deposit. Unlimited check writing is available and a free debit card will be issued following account opening. Unlimited nationwide ATM fees will be reimbursed up to $25 (maximum $4.99 per transaction) each month, if qualification requirements are met. (Individual ATM fees of $5.00 or higher require a receipt for reimbursement.) There is a limit of one Kasasa Cash account per Social Security number.

Kasasa Saver

The Kasasa Saver currently earns 4.00% APY (up from 1.00% APY) on qualifying balances up to $50k. Qualifying balances over $50k earn 1.00% APY, with non-qualify balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
4.00*%-$50kCommunity National Bank (KS)Kasasa Saver
OTHER TIERS: 1.00% $50k+
Rates as of February 20, 2024.

Kasasa Cash/Kasasa Cash Back earned rewards and ATM reimbursements are automatically transferred to a linked Kasasa Saver account each month. Like the Kasasa Cash account, the Kasasa Saver has no minimum balance requirement or monthly service fee, and requires a $100 minimum opening deposit. There is a limit of one Kasasa Saver account per Social Security number.

Annual Earnings of Combined Kasasa Cash/Kasasa Saver Accounts

The potential combined annual earnings of the Kasasa Cash (6.00% APY/$30k) and the Kasasa Saver (4.00% APY/$50k) is approximately $3,800 (4.75% APY/$80k), which is more than double what it was in December 2022.

Kasasa Cash Back

The Kasasa Cash Back rate has increased from 2.00% on cash back on debit card purchases to 5.00%, but is now limited to the first $200 (previously $400) in monthly debit card purchases. The maximum annual earnings for the Kasasa Cash Back account is $120 ($10 per month), an improvement over the previous $96 annual and $8 per month.

The Kasasa Brand

For those not familiar with the Kasasa brand, Kasasa Cash is a type of Reward Checking Account (RCA) developed by the Texas company, Kasasa, Ltd. According to the Kasasa website,

Kasasa is an award-winning financial technology and marketing services company that provides reward checking accounts consumers love, the first ever loan with take-backs™, and ongoing expert consulting services to community financial institutions.

In 2003, a small group of Kasasa's founders set up shop in an old school building in Taylor, Texas. Their mission: to develop, market, and consult on software products for community banks in Central Texas. Their original REWARDChecking® account would play a pivotal role in the future of the company.

Today, Kasasa provides the community banking industry with world-class marketing, dedicated resources, and innovative products. These products include Kasasa Rewards Accounts, our free checking product suite, which delivers controlled growth through new accounts, non-interest income, increased profitability, and long-term retention. We’ve also developed the award-winning Kasasa Loan®, the only loan that lets borrowers pay extra to get ahead...and take back any extra if they need it.

Availability

Headquartered in Seneca, Kansas, Community National Bank has brick-and-mortar presence in five Kansas counties (Brown, Johnson, Leavenworth, Nemaha, and Shawnee), but according to CSR, the Kasasa brand products are offered to all Kansas residents.

Opening a Kasasa Cash Checking, Kasasa Cash Back, and/or Kasasa Saver account can be done online, or at any of seven Kansas branches located in Basehor, Overland Park, Sabetha, Seneca, Topeka (2), and Tonganoxie.

Bank Overview

Community National Bank has an overall health grade of "C-" at DepositAccounts.com, with a Texas Ratio of 20.72% (above average) based on June 30, 2023 data. In the past year, CNB's total non-brokered deposits decreased by -$88.42 million, a poor annual growth rate of -10.64%. Please refer to our financial overview of Community National Bank (FDIC Certificate # 25665) for more details.

Founded in 1984, Community National Bank is a locally-owned and operated community bank. In addition to offering retail banking services, CNB also operates a mortgage company and CNB Custody, a national custodial service for self-directed retirement plans. Following the acquisition of VisionBank (Topeka) in June 2022, CNB is currently the 22nd largest bank headquartered in Kansas, with assets in excess of $851 million and more than 54,000 customer accounts.

How the Kasasa Cash Compares

When compared to High Yield Reward Checking Accounts tracked by DepositAccounts.com, which are available to all Kansas residents and have maximum qualifying balances of at least $30k, Community National Bank’s Kasasa Cash APY currently ranks first.

The above information and rates are accurate as of 10/10/2023.

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.

Related Pages: Topeka savings accounts, Kansas City savings accounts, savings accounts, reward checking accounts

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Community National Bank (KS) Doubles Kasasa Cash Rate
Deal Summary: Kasasa Cash, 4.00% APY on qualifying balances up to $30k. Kasasa Saver, 1.00% APY on qualifying balances up to $50k.

Availability: Kansas

Reward checking account (RCA) rate increases have mostly lagged behind deposit account rates in the last year. While CDs, money market, and savings account rates have risen dramatically, RCA rates have remained largely stagnant. That is starting to change at a few banks. It just changed at Community National Bank. Kasasa brand products have been offered by Community National Bank for more than five...

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Community National Bank (KS) Offers Kasasa Brand Statewide
Deal Summary: Kasasa Cash, 2.00% APY on qualifying balances up to $20k. Kasasa Saver, 1.00% APY on qualifying balances up to $20k.

Availability: Kansas

Kasasa brand products have been offered by Community National Bank for nearly four years. The Kasasa Cash’s initial 2.00% APY on qualifying balances up to $20k is still in effect. Qualifying balances over $20k earn 0.20% APY, with non-qualify balances earning 0.05% APY.

The monthly qualification requirements are straightforward and fairly standard.

  • At least 15 debit card purchases
  • At least one direct deposit or...
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4.05% Reward Checking Account at Community National Bank in Kansas - Local Only

Update 11/22/09: The top rate has fallen to 4.05% APY. Refer to the bottom of the post for the rate history.

Community National Bank is offering a reward checking account with the following rates and features if certain monthly requirements are met:

  • 4.05% APY on balances up to $25,000
  • 1.01% APY on balances over $25,000
  • 0.25% base rate if qualifications are not met
  • Refunds all ATM fees nationwide

The monthly requirements include:

  • 10 check card purchases
  • One direct deposit or one automatic payment
  • Receive e-statements

Additional features of the account regardless of the monthly requirements include:

  • $100 minimum initial deposit
  • No minimum...


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