While First-Lockhart National Bank (First-Lockhart) has been offering some type of competitive rewards checking account (RCA) for more than ten years, the Kasasa brand has only been a part of the product line for about ten months. The Free Kasasa Cash Checking account currently earns 3.05% on qualifying balances up to $25k; qualifying balances above $25k earn 1.045% APY, with non-qualifying balances earning 0.05% APY.
|1.05*%||-||$25k||First-Lockhart National Bank||Free Kasasa Cash Checking|
|OTHER TIERS: 0.25% → $25k+|
There are only two qualifying requirements to earned the stated APY.
- At least 15 debit card purchases (minimum $5 each).
- Have at least two direct deposits, ACH credits, or ACH payments.
The Free Kasasa Cash Checking account has no monthly service fee or minimum balance to earn rewards. A $50 minimum opening deposit is required and there is a limit of one account per Social Security Number. If qualifications are met, nationwide ATM fees up to $20 will be reimbursed per statement cycle.
In the past ten years, First-Lockhart has changed its RCA APY three times, with the qualifying balance cap changing twice. The graph below shows how those changes affected the account’s potential earnings.
Free Kasasa Saver
As a companion account to the Free Kasasa Cash Checking, the Free Kasasa Saver currently earns 1.55% APY on qualifying balances up to $100k; qualifying balances above $100k and non-qualifying balances both earn 0.05% APY. The Free Kasasa Saver has no monthly service fee, no minimum balance to earn rewards, and requires a $50 minimum opening deposit.
|0.25*%||-||$100k||First-Lockhart National Bank||Free Kasasa Saver|
|OTHER TIERS: 0.15% → $100k+|
The Kasasa Brand
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 Lockhart, Texas, First-Lockhart National Bank has a brick-and-mortar presence in Caldwell, Hays, and Travis Counties. All Texas residents, who are U.S. citizens/resident aliens with a valid Social Security Number, can apply for a Free Kasasa Cash Checking account.
First-Lockhart National Bank has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 1.08% (excellent) based on September 30, 2019 data. In the past year, First-Lockhart has increased its total non-brokered deposits by $7.62 million, an excellent annual growth rate of 3.2%. Please refer to our financial overview of First-Lockhart National Bank (FDIC Certificate # 13599) for more details.
When First National Bank of Lockhart opened its doors for business in April 1889, it was the first bank to be organized in Lockhart, Texas. The first Board of Directors included many of the men who played important roles in the development of Lockhart and Caldwell County. In 1934, the Bank merged with Lockhart National Bank, resulting in First-Lockhart National Bank. First-Lockhart is Caldwell County’s largest financial institution, with assets in excess of $274 million.
How the Free Kasasa Cash Checking Compares
When compared to the High Yield Reward Checking Accounts tracked by DepositAccounts.com, which are available to all Texas residents and have maximum qualifying balances of at least $25k, First-Lockhart National Bank’s Free Kasasa Cash Checking currently ranks second.
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.