Heritage Federal Credit Union’s (Heritage Federal) Kasasa Cash Checking account is approaching its one-year anniversary, and the initial (and competitive) 3.25% APY on qualifying balances up to $50k is still in effect. Qualifying balances greater than $50k earn 0.50% APY, with non-qualifying balances earning 0.05% APY.
|2.00*%||-||$25k||Heritage Federal Credit Union (IN)||Kasasa Cash Checking|
|OTHER TIERS: 0.50% → $25k+|
The monthly qualification cycle requirements include,
- At least 12 debit card purchases (either pin-based or signature-based).
- Be enrolled in and log into online or mobile banking.
- Enroll in eStatements.
The Kasasa Cash Checking account has no monthly maintenance fee or minimum balance requirement, and can be opened with a $50 minimum deposit. The first debit card issued is free, but replacement debit cards are $5 each. Nationwide ATM fees will be reimbursed up $25 per month (if qualifications are met), with a maximum of $5 per transaction. There is a limit of one account per member.
The companion Kasasa Saver earns 1.50% APY on qualifying balances up to $100k. Like the Kasasa Cash Checking, the Kasasa Saver’s qualifying balances above $100k earn 0.50% APY, with non-qualifying balances earning 0.05% APY.
|0.75*%||-||$100k||Heritage Federal Credit Union (IN)||Kasasa Saver|
|OTHER TIERS: 0.50% → $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 Newburgh, Indiana, Heritage Federal Credit Union’s field of membership (FOM) is residency based, with individuals who live, work, worship, or attend school the Indiana counties of Posey, Vanderburgh, or Warrick, or in Henderson County in Kentucky, eligible for membership.
Direct relatives of anyone within the FOM are also welcome to apply.
Joining Heritage Federal and/or opening a Kasasa Cash Checking account can be done online. While the ten Indiana and one Kentucky branch lobbies are closed, drive-thru service is available as is lobby access by appointment (812.253.6928).
A Primary Share account is required for membership with a minimum balance of $5.
Heritage Federal participates in both the CO-OP Share Branch and ATM networks, giving members access to nearly 30,000 ATMs and more than 5,000 shared branches.
Credit Union Overview
Heritage Federal Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 3.54% (excellent) based on December 31, 2019 data. In the past year, Heritage Federal has increased its total non-brokered deposits by $42.06 million, an excellent annual growth rate of 8.37%. Please refer to our financial overview of Heritage Federal Credit Union (NCUA Charter # 16626) for more details.
Heritage Federal Credit Union was established in 1965 and was originally known as Warrick Employees Federal Credit Union. The original FOM included the employees of ALCOA Warrick Operations in Newburgh, Indiana, who first conducted their financial transaction out of the trunk of a car. In 1983, the credit union rebranded as Heritage Federal Credit Union following a charter change. Currently the 13th largest credit union headquartered in Indiana, Heritage Federal has more than 61,000 members and assets in excess of $657 million.
How the Kasasa Cash Checking Compares
There aren’t that many reward checking accounts (RCA) with maximum balance caps of at least $50k. Of the nearly 900 High Yield Rewards Checking Accounts tracked by DepositAccounts.com, 44 meet that criteria and only six of those are available within Heritage Federal’s FOM. When compared to those six RCAs, Heritage Federal Credit Union’s Kasasa Cash Checking APY currently ranks first.
The above rates are accurate as of 4/15/2020.
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.