New Kasasa Accounts at Evergreen Bank Group near Chicago


2.05*%-$10kEvergreen Bank GroupKasasa Cash
1.05*%-$10kEvergreen Bank GroupKasasa Saver
Accounts mentioned in this post. Rates as of August 31, 2016.

Evergreen Bank Group has recently launched reward checking and savings accounts under the Kasasa brand. As is common for new Kasasa accounts, the rates and balance caps are a little disappointing. Nevertheless, they give those who live in the Chicago metro area another reward checking option. The reward checking account is called Kasasa Cash, and the linked savings account is called Kasasa Saver. The account details are listed in the bank’s Kasasa Cash page and Kasasa Saver page. A summary of the rates and features as listed at these bank’s pages as of 6/13/2013 are listed below:

Kasasa Cash rates and ATM fee refunds if monthly requirements are met:

  • 2.05% APY on balances up to $10,000
  • 0.50% interest rate on portion of balance over $10,000
  • 0.05% APY on entire balance if requirements are not met
  • Unlimited ATM fee refunds nationwide

Kasasa Saver rates if monthly requirements are met:

  • 1.05% APY on balances up to $10,000
  • 0.50% interest rate on portion of balance over $10,000
  • 0.05% APY on entire balance if requirements are not met

Monthly requirements to qualify for the above rates:

  • 12 debit card purchases
  • enrolled and log into Kasasa 360 money management tools at least once
  • enrolled and receive eStatement notice

The accounts are free with no monthly service fees and no minimum balance requirements. Both accounts require a minimum initial deposit of $100.

One new requirement is logging into Kasasa 360. This money management tool appears to be similar to in that it allows you to aggregate multiple financial accounts. Those with multiple reward checking accounts may be hesitant to include of their reward checking accounts in this tool. I don’t think the bank will monitor how many other bank accounts you have, but it is possible through this type of tool. In addition, there’s always the concerns about giving one website login info of all of your bank accounts. Even if they are kept in secure databases, there’s always the risk of hackers getting access to them.


This is a local deal primarily for those who live in the Chicago metro area. There’s an online application link on the Kasasa Cash and Saver pages. Just click on the “Open Now” button. The first page of the application states:

Due to banking regulations, we ask that new customers complete your account opening with an in-branch visit.

Also, there’s a customer due diligence section on the first page of the application which requires the customer to check:

By checking this box I acknowledge I am a resident of the state of Illinois.

Branches are located in Evergreen Park and Oak Brook, Illinois which are in the suburbs of Chicago.

The bank has an overall health score at of 5 stars (out of 5) with a Texas ratio of 3.28% (excellent) based on March 2013 data. Please refer to our financial overview of Evergreen Bank Group for more details. The bank has been a FDIC member since 1999 (FDIC Certificate # 35230).

How This Reward Checking Account Compares

As I mentioned, the rate and balance cap of this reward checking account is a little disappointing. For a $10K balance cap, you can get 4.00% APY on balances up to $10K at Great Lakes Credit Union which is based in North Chicago. However, for banks with reward checking accounts that are nationally available, it’s hard to find rates or balance caps higher than this. The best deal is at American Savings Bank which offers a Kasasa Cash account with a 2.00% APY for balances up to $15K. These rates and balance caps are accurate as of 6/13/2013.

To find reward checking accounts in other areas of the nation, please refer to the reward checking section of To learn more about reward checking, please refer to this reward checking overview.

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