Heritage Community Credit Union (HCCU) has added a new Kasasa Cash account that earns 2.25% APY on qualifying balances up to $25k. Qualifying balances of $25k+ earn 0.1998% APY, with non-qualifying balances earning 0.05% APY.
Monthly Kasasa Cash Qualifying Requirements
- Have at least 12 debit card purchases.
- Sign into ehccu-online, Mobile ebanking, or text banking at least once.
The Kasasa Cash account has no monthly service fee or minimum balance requirement, but does require a $25 opening deposit. If monthly qualifying requirements are met, ATM fees will be reimbursed up to an aggregate total of $20. There is a limit of one Kasasa Checking account per Social Security number.
Most Rewards Checking Accounts make receiving eStatements one of the qualifying requirements, but I’ve never seen it worded like the fine print on the promotion page,
Failure to maintain monthly enrollment in eStatements
will require the closure of your Kasasa Cash account.
There is a companion Kasasa Saver account, but once again, I’m disappointed by the rate: 0.50% APY on balances up to $50k, if the Kasasa Cash qualifying requirements are met. Qualifying balances of $50k+ earn 0.1998% APY, with non-qualifying balances earning 0.05% APY. Like the Kasasa Cash account, it has no monthly service fee or minimum balance requirement, but only requires a $10 minimum opening deposit.
Headquartered in Sacramento, Heritage Community Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school in the California counties of Placer or Sacramento eligible to join.
Joining HCCU and opening a Kasasa Cash account requires a visit of any of five California branches, located in Fair Oaks, Folsom, Gold River, and Sacramento (2).
HCCU’s online banking platform is currently limited to account management and bill payment services.
HCCU is also a member of the CO-OP Network, providing members with access to more than 5,000 branches nationwide.
Credit Union Overview
Heritage Community Credit Union has an overall health rating of "B+" at DepositAccounts.com, with a Texas Ratio of 7.31% (excellent) based on December 31, 2016 data. In the past year, HCCU has increased its total non-brokered deposits by $1.48 million, an above average annual growth rate of 0.84%. Please refer to our financial overview of Heritage Community Credit Union (NCUA Charter # 68395) for more details.
In 1953, seven civilians employees at Mather Air Force Base (Mather AFB) saw a need for better financial services on base and began the Mather Federal Credit Union. Eventually, the Credit Union would serve both military and civilian personnel. Mather AFB was slated for closure in 1993, but the Credit Union “vowed they would remain open, regardless of the final disposition of the base.” In an effort to keep its doors open, the Credit Union began to add local employer groups to the FOM and completed several mergers to strengthen the membership.
These efforts and our ability to withstand the effects of the closure of Mather Air
Force Base, earned Mather Federal the distinction of "Federal Credit Union of the
Year," as named by the National Association of Federal Credit Unions (NAFCU).
In 1999, the name was changed to Heritage Community Credit Union when the charter was converted to a state community charter. HCCU currently has more than 13,200 members and assets in excess of $202 million.
How the Kasasa Cash Compares
When compared to the 29 High Yield Reward Checking Accounts tracked by DepositAccounts.com that are available within the FOM and have maximum qualifying balances of at least $25k, Heritage Community Credit Union’s Kasasa Cash APY currently ranks second.
The above rates are accurate as of 5/27/2017.