Dannemora Federal Credit Union Has Competitive Kasasa Cash Rate


Deal Summary: Kasasa Cash, 3.00% APY on qualifying balances up to $15k. Kasasa Saver, 1.00% APY on qualifying balances up to $25k.

Availability: Residents of four North Country New York counties.

Dannemora Federal Credit Union (DFCU) has been offering Kasasa brand products for about a year. The Kasasa Cash’s initial 3.00% APY on qualifying balances up to $15k is still in effect. Qualifying balances over $15k earn 0.25% APY, with non-qualify balances earning 0.05% APY.

4.00*%-$25kDannemora Federal Credit UnionFree Kasasa Cash Checking
OTHER TIERS: 0.75% $25k+
Rates as of April 24, 2024.

The monthly qualification requirements include,

  • At least 15 signature-based debit card purchases
  • Be enrolled in and agree to receive e-Statements
  • Be enrolled in and log into online banking
  • Maintain a valid email address

The Kasasa Cash account has no minimum balance requirement or monthly service fee, and can be opened with a minimum $10 deposit. Nationwide ATM fees will be reimbursed up to a total of $25 per month, if the qualification requirements are met. Unlimited checking writing is available and a Visa® debit card will be issued following account opening. There is a limit of one Kasasa Cash account per member and may not be used for commercial purposes.

Kasasa Saver

DFCU’s Kasasa Saver account earns 1.00% APY on qualifying balances up to $25k. Qualifying balances over $25k earn 0.25% APY, with non-qualify balances earning 0.05% APY.

2.00*%-$50kDannemora Federal Credit UnionFree Kasasa Saver
OTHER TIERS: 0.75% $50k+
Rates as of April 24, 2024.

Earned rewards from a Kasasa Cash/Kasasa Cash Back account are automatically transferred to the linked Kasasa Saver every month. The Kasasa Saver has no minimum balance requirement or monthly service fee, and can be opened with a $5 minimum deposit. There is a limit of one Kasasa Saver account per member.

Annual Earnings of Combined Kasasa Cash/Kasasa Saver Accounts

The potential combined annual earnings of the Kasasa Cash (3.00% APY/$15k) and the Kasasa Saver (1.00% APY/$25k) is approximately $700 (1.75% APY/$40k).

Kasasa Cash Back

DFCU’s Kasasa Cash Back account earns 3.50% cash back on debit card purchases, limited to the first $350 of monthly purchases. If you are planning on maintaining a balance of less than $4,200, the Kasasa Cash Back account would probably be a better deal than the Kasasa Cash account; the maximum annual earnings for the Kasasa Cash Back account is $126 ($10.50 per month).

Expected Use Warning

Many banks and credit unions that offer Kasasa accounts include a warning in the small print about expected debit card usage. DFCU has this warning with the title "Purpose and Expected Use of Account." The important excerpt of this warning is as follows:

Small debit card transactions conducted on the same day at a single merchant and/or multiple transactions made during a condensed time period particularly near the end of a Monthly Qualification Cycle are not considered normal, day-to-day spending behavior. These types of transactions appear to be conducted with the sole purpose of qualifying for the account's rewards and thus will be deemed inappropriate transactions and will not count toward earning the account's rewards.

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: the free checking account that rewards each month for doing things you already do.

By performing certain actions valuable to your bank or credit union, like using your debit card or online banking, your institution makes more money, which they share with you in the form of rewards.

In case you were wondering, “Kasasa” is just a made-up word.

In a world where real-life people are too often taken for granted as account numbers,
we didn’t want to be the next [INSERT GENERIC NAME] checking account.


Headquartered in Plattsburgh, New York, Dannemora Federal Credit Union’s field of membership (FOM) is residency-based, with individuals who live, work, worship, or attend school in the North Country New York counties of Clinton, Essex, Franklin, or St. Lawrence, eligible for membership.

Individuals related to a current member (by blood or in-law) and a domestic partner of a current member also qualify for membership.

Joining DFCU and/or opening a Kasasa Cash, Kasasa Cash Back, and/or Kasasa Saver can be done online. At this time, the four New York branch lobbies, located in Champlain, Dannemora, and Plattsburgh (2), have limited hours. DFCU’s COVID-19 Resource Center page details the branch hours and other restrictions.

Once you are a member, you are an owner! All you need is
$5.00 to deposit into a DFCU Savings account to get you started.

Credit Union Overview

Dannemora Federal Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 0.91% (excellent) based on September 30, 2020 data. In the past year, DFCU increased its total non-brokered deposits by $36.93 million, an excellent annual growth rate of 22.66%. Please refer to our financial overview of Dannemore Federal Credit Union (NCUA Charter # 12473) for more details.

Founded in 1958, Dannemora Federal Credit Union’s original FOM was exclusive to the employees of Dannemora State Hospital. The FOM began to expand in 1981 when New York State employees working at the Clinton Correctional Facility, Camp Adirondack, and the Youth Facilities at Ray Brook/Schuyler Falls were added, as were the members of New York State Police’s Troop B and U.S. Department of Justice at Ray Brook employees. Between 2000 and 2010, DFCU adopted a community charter and merged with or acquired five North Country credit unions. Dannemora Federal Credit Union is currently the 50th largest credit union headquartered in New York state, with more than 20,300 members and assets in excess of $232 million.

How the Kasasa Cash Compares

When compared to the High Yield Reward Checking Accounts tracked by DepositAccounts.com that are available within the FOM and have maximum qualifying balances of at least $15k, Dannemora Federal Credit Union’s Kasasa Cash APY currently ranks third.

The above rates are accurate as of 1/27/2021.

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: Burlington checking accounts, reward checking accounts


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