Gulf Coast Federal Credit Union (TX) Has New Rewards Checking Account

POSTED ON BY

Deal Summary: Kasasa Cash, 3.00% APY, on qualifying balances up to $15k. Kasasa Saver, 1.00% APY, on qualifying balances up to $50k.

Availability: Residents of three South Texas counties (Corpus Christi metropolitan statistical area)

DA has recently started tracking the Kasasa brand products offered by Gulf Coast Federal Credit Union (GCFCU). According to CSR, the Kasasa Cash Checking, Kasasa Cash Back, and Kasasa Saver accounts were added to the product line toward the beginning of the year.

The Kasasa Cash Checking'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-qualifying balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
3.00*%-$15kGulf Coast Federal Credit UnionKasasa Cash Checking
OTHER TIERS: 0.25% $15k+
Rates as of October 22, 2021.

The monthly qualification requirements include,

  • At least 12 debit card transactions
  • At least one direct deposit, ACH credit, or ACH payment transaction
  • Be enrolled in and agree to receive e-Statements

The Kasasa Cash Checking account has no minimum balance requirement, no monthly service fee, but does require a $25 minimum opening deposit. Nationwide ATM fees will be reimbursed up to $25 per month, if qualifying requirements are met. Unlimited checking writing is available and a free debit card will be issued following account opening. There is a limit of one account per Social Security number and a Kasasa Cash Checking account may not be used as a commercial account. A Kasasa Cash Checking is required to have a linked Kasasa Saver account.

Kasasa Saver Account

GCFCU also offers a Kasasa Saver account, as a companion account to Kasasa Cash Checking and Kasasa Cash Back accounts. Earned rewards automatically sweep to this account each month. The Kasasa Saver account currently earns 1.00% APY on qualifying balances up to $50k; qualifying balances over $50k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.00*%-$50kGulf Coast Federal Credit UnionKasasa Saver
OTHER TIERS: 0.25% $50k+
Rates as of October 22, 2021.

Like the Kasasa Cash Checking account, the Kasasa Saver has no monthly service charge or minimum balance requirement, but the minimum opening deposit is a low $5. There is a limit of one Kasasa Saver account per Social Security number and it may not be used for commercial purposes.

Annual Earnings of Combined Kasasa Cash Checking/Kasasa Saver Accounts

The potential combined annual earnings of a Kasasa Cash Checking account (3.00% APY/$15k) and a Kasasa Saver account (1.00% APY/$50k) is approximately $950 (1.46% APY/$65k), which is a very competitive APY for a good sized balance in a rewards checking/saver combo.

Kasasa Cash Back

GCFCU’s Kasasa Cash Back account earns 3.00% cash back on up to $300 in monthly debit card purchases. If you are planning on maintaining a balance of less than $3,600, the Kasasa Cash Back account would probably be a better deal than the Kasasa Cash Checking account, as the maximum annual earnings for the Kasasa Cash Back account is $108 ($9 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.

Availability

Headquartered in Corpus Christi, Texas, Gulf Coast Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in the Texas counties of Jim Wells, Nueces, and San Patricio eligible to join.

Immediate family members of current GCFCU members also qualify for membership, regardless of where they live or work.

Joining GCFCU and/or opening a Kasasa brand product must be done at any of four Texas branches located in Alice, Corpus Christi (2), and Portland.

Simply bring in $7.50 to anyone of our convenient branch locations. $5.00 must stay in the share account (savings) at all times to keep the account open and the $2.50 is a one-time membership fee.

I asked CSR if GCFCU had any plans for adding an online membership application and/or an online Kasasa product application. She stated the online membership application is “in the works,” but she wasn’t certain if the Kasasa products would be included in that application.

Credit Union Overview

Gulf Coast Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 6.14% (excellent) based on March 31, 2021 data. In the past year, GCFCU has increased its total non-brokered deposits by $34.47 million, an excellent annual growth rate of 19.52%. Please refer to our financial overview of Gulf Coast Federal Credit Union (NCUA Charter # 4060) for more details.

Founded in 1940, Gulf Coast Federal Credit Union “transitioned from numerous core groups and now proudly has a community charter.” At the beginning of the year, GCFCU unveiled its in-house Interaction Center, “a full-service department created to provide a new level of service for members who prefer speaking to a live, local representative or conducting transactions without visiting a branch.” With nearly 16,000 members and assets in excess of $267 million, GCFCU is the 82nd largest credit headquartered in Texas.

How the Kasasa Cash Checking Compares

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

The above rates are accurate as of 7/15/2021.

To search 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: Corpus Christi checking accounts, reward checking accounts

Comments


Gulf Coast Federal Credit Union (TX) Offers Top 18-Month CD Rate
Deal Summary: 18-month Share Certificate, 1.16% APY, $500 minimum deposit

Availability: Residents of three South Texas counties (Corpus Christi metropolitan statistical area)

Gulf Coast Federal Credit Union (GCFCU) is currently offering 1.16% APY on its 18-month Share Certificate. The minimum opening deposit is $500, with no stated balance cap.

Between 2018 and 2019, GCFCU offered a series of limited-time special rates on a variety of Share Certificates. In May 2018, GCFCU’s 36-month Share Certificate Special had the highest APY (3.65%) offered on all the 3-year CDs...

Continue Reading
Gulf Coast Federal Credit Union (TX) Ups 24-Month CD to 2.95% APY
Deal Summary: 24-month Share Certificate, 2.95% APY, $500 minimum deposit

Availability: Residents of three South Texas counties (Corpus Christi metropolitan statistical area).

Gulf Coast Federal Credit Union (GCFCU) is currently offering 2.95% APY on its 24-month Share Certificate. While the 2.95% APY is described as a “special rate, limited time only,” no end-date has been announced. The minimum opening deposit is $500, with no stated balance cap.

The 24-month Share Certificate is also available as an IRA (Traditional, Roth, CESA), but the APY is a...

Continue Reading
Gulf Coast Federal Credit Union Adds 36-Month CD Special, 3.65% APY
Deal Summary: 36-month Share Certificate Special, 3.65% APY, $500 minimum deposit

Availability: Residents of three South Texas counties (Corpus Christi metropolitan statistical area).

In May, Gulf Coast Federal Credit Union (Gulf Coast Federal) offered a 36-month Share Certificate Special (SCS) earning 2.99% APY, which was available for a few months. Gulf Coast Federal has brought the 36-month SCS back with a very competitive 3.65% APY. In fact, the 3.65% APY is the highest rate offered on any 3-year CD currently tracked by DA. The...

Continue Reading
Gulf Coast FCU (TX) Adds 36-Month CD Special
Deal Summary: 36-month Share Certificate Special, 2.99% APY, $500 minimum deposit

Availability: Residents of three South Texas counties (Corpus Christi Metropolitan Statistical Area).

Gulf Coast Federal Credit Union (Gulf Coast Federal) is currently offering a 36-month Share Certificate Special earning 2.99% APY. (I have to admit, I was tempted to call it the “almost-3%-CD.”) The 36-month is one of four Share Certificate Specials, but it has the most competitive APY by far. The minimum opening deposit for any of the Share Certificate Specials is...

Continue Reading
Best CD Rates in the Nation in Southeast Texas - Local Only

It's getting difficult to find 3% CD rates even for terms of 7 and 10 years. That's why I was surprised when I came across this new CD rate at Gulf Coast Credit Union in Corpus Christi, Texas. It's a 3-year CD with a 3.05% APY. The shorter terms also have competitive rates. These include a 1.10% APY 6-month CD, a 1.50% APY 1-year CD and a 1.85% APY 2-year CD. Minimum deposit is $500. These rates are listed at the bottom of the credit union's rate sheet as...

Continue Reading

More Past Offers



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.