UPDATE: 10/4/2016 - Only members of the Friends of the Red Cross who live in the Greater Chesapeake Region (Maryland and Delaware) now qualify under the "Easy Membership" category.
Destinations Credit Union (Destinations CU) has raised the rate on its Kasasa Cash account to 3.01% APY on qualifying balances up to $10K, with qualifying balances of $10K+ earning 0.25% APY. Non-qualifying balances earn 0.05% APY.
This is the first rate change since the Kasasa Cash account was introduced in September 2013, when the initial APY was 2.01%.
Destinations CU’s Kasasa Cash account has no monthly service fee, no minimum balance to earn rewards, and no minimum deposit to open. Domestic ATM fees incurred during qualification cycle will be reimbursed up to a limit of $20 per cycle. (ATM receipt must be presented for reimbursement of an individual ATM fee of $5.00 or higher.)
Monthly Qualification Requirements
- Have at least 12 check card purchases post and settle
- Be enrolled and receive eStatements
- Be enrolled in and log into online banking
Headquartered in Baltimore, Destinations Credit Union offers membership through a variety of ways.
Limited Easy Membership: Joining the Friends of the Red Cross with a $25 donation qualifies you for membership in Destinations Credit Union, if you live in the Greater Chesapeake Region (Maryland and Delaware). (This is the fourth option on the first page of Destinations CU’s online application.)
Sponsor Groups: Employees, members, and students of over 200 Sponsor Groups qualify for membership.
Residency: Residents of Parkville, Carney, Harford Park, Oakleigh Manor, and Ridgeleigh are eligible to join. If you attended Parkville High School, you also qualify for membership.
Relationship: Family members of current Destinations CU members are also eligible to join.
Credit Union Overview
Destinations Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 6.45% (excellent) based on June 30, 2015 data. In the past year, Destinations Credit Union increased its total deposits by $6.32K, an above average annual growth rate of 1.27%. Please refer to our financial overview of Destinations Credit Union for more details.
Originally chartered in 1935 as the Baltimore Transit Employees Credit Union, Destinations Credit Union (NCUA Charter # 66333) is the result of a 2006 merger with Team Federal Credit Union. Destinations CU has added more than 200 Sponsor Groups, and with the easy membership option of joining through the Friends of the Red Cross, expects to see its membership increase substantially in the years to come.
How the Kasasa Cash Account Compare
When compared to the Reward Checking accounts tracked by DepositAccounts.com, which have similar monthly requirements and are available nationally, Destinations Credit Union’s Kasasa Cash currently ranks first.
The above rates are accurate as of 11/16/2015.
To look for the best nationwide Reward Checking account rates and the best Reward Checking account rates in your state, please refer to our Reward Checking account rates table.