Financial Builders Kasasa Cash/Saver Combo Offers Sizeable Earnings


Deal Summary: Kasasa Cash, 2.25% APY on qualifying balances up to $20k. Kasasa Saver, 1.00% APY on qualifying balances up to $100k.

Availability: Residents of seven North Central Indiana counties.

Financial Builders has been offering Kasasa brand products for more than seven years. The Kasasa Cash account currently earns 2.25% APY on qualifying balances up to $20k. Qualifying balances over $25k earn 0.25% APY, with non-qualify balances earning 0.05% APY.

Since DA began tracking the Kasasa Cash account in August 2013, there have been three rate increases and two rate decreases. The highest APY (3.00%) was in effect between May 2019 and June 2020, with the current 2.25% in effect for the last six months.

The monthly qualification requirements include,

  • At least 10 debit card purchases
  • At least one direct deposit or ACH payment transaction

The Kasasa Cash Checking account has no minimum balance requirement, no monthly service fee, and no minimum opening deposit. The $4 monthly service fee will be waived with enrollment in electronic statements. Nationwide ATM fees will be reimbursed up to a total of $25 per month, if qualification requirements are met. Receipts for ATM fees of $5 or greater are required for reimbursement. Unlimited checking writing is available and a free Mastercard® debit card will be issued following account opening. There is a limit of one account per Social Security number and may not be used for commercial purposes. A Kasas Cash account is required to have a linked Kasasa Saver account.

Kasasa Saver

Financial Builders’ Kasasa Saver account earns 1.00% APY on qualifying balances up to $100k. Qualifying balances over $100k earn 0.25% APY, with non-qualify balances earning 0.05% APY.

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, no monthly service fee, and no minimum opening deposit. There is a limit of one account per Social Security number.

Annual Earnings of Combined Kasasa Cash/Kasasa Saver Accounts

The potential combined annual earnings of the Kasasa Cash (2.25% APY/$20k) and the Kasasa Saver (1.00% APY/$100k) is approximately $1,450 (1.209% APY/$120k). It's not common for Kasasa accounts to have such a high combined annual earnings on a large balance.

Kasasa Cash Back

The Kasasa Cash Back account offered by Financial Builders earns 2.50% cash back on debit card purchases, limited to the first $300 of monthly purchases. If you are planning on maintaining a balance under $4,000, 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 $90 ($7.50 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: 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 Kokomo, Indiana, Financial Builder’s field of membership (FOM) is residency-based, with individuals who live, work, or worship in the Indiana counties of Carroll, Cass, Clinton, Howard, Miami, Tipton, or White, eligible for membership.

Joining Financial Builders and/or opening a Kasasa brand product can be done online, or at the sole Indiana branch located on LaFountain Street in Kokomo. There is no mention of any COVID-related branch restrictions on Financial Builders’ website.

If you are not a current member of Financial Builders, $5.00 of the initial deposit will be used to open a membership share savings account which is also a requirement for membership.

Credit Union Overview

Financial Builders has an overall health grade of "A+" at, with a Texas Ratio of 2.90% (excellent) based on September 30, 2020 data. In the past year, Financial Builders increased its total non-brokered deposits by $13.34 million, an excellent annual growth rate of 17.2%. Please refer to our financial overview of Financial Builders (NCUA Charter # 16213) for more details.

Founded in 1964 as the Transmission Builders Federal Credit Union, the original FOM was exclusive to employees of the Chrysler Transmission Plant in Kokomo. Originally housed in a small storefront building, the fledgling credit union had two branch employees and a seven member board made up of Chrysler employees. The Financial Builders rebrand occurred in 2008 when a community charter was adopted. Financial Builders is currently the 36th largest Indiana credit union, with nearly 12,000 members and assets in excess of $117 million.

How the Kasasa Cash Compares

When compared to the High Yield Reward Checking Accounts tracked by that are available within the FOM and have maximum qualifying balances of at least $20k, Financial Builder’s Kasasa Cash APY currently ranks second.

The above rates are accurate as of 1/6/2021.

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: Indianapolis checking accounts, reward checking accounts


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.