KALSEE Credit Union (MI) Adds Kasasa Cash+, 4.25% APY Up To $25k

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Deal Summary: Kasasa Cash+, 4.25% APY on qualifying balances up to $25k.

Availability: Residents of eight southwest Michigan counties.

More than two years ago, KALSEE Credit Union (KALSEE) began promoting a new Kasasa Cash checking account. That account is still available and continues to earn 3.00% APY on qualifying balances up to $25k. This week, KALSEE took the unusual step of adding a second Rewards Checking Account: the Kasasa Cash+ account, which earns 4.25% APY on qualifying balances up to $25k. Qualifying balances over $25k earn 0.35% APY, with non-qualifying balances not earning any interest.

APYMINMAXINSTITUTIONPRODUCTDETAILS
4.25*%-$25kKalsee Credit UnionKasasa Cash+
OTHER TIERS: 0.35% $25k+
Rates as of May 20, 2019.

Kasasa Cash+ Qualification Requirements

  • At least 24 debit card purchases (twice the number required for Kasasa Cash account).
  • Direct deposit(s) totaling at least $1k per month.
  • Be enrolled in and agree to receive eStatements.
  • Be enrolled and log into It’s Me 247 online or mobile banking.

The Kasasa Cash+ checking account has no minimum balance requirement or monthly service fee. Nationwide ATM fees will be reimbursed up to $25 per month if qualifications are met, with individual fees of $5.00 or greater requiring a receipt for reimbursement. There is a limit of one account per Social Security number.

Kasasa Saver

KALSEE also added a companion Kasasa Saver account in January 2017 that still earns 1.00% APY, but the qualifying balance cap has been raised from $25k to $50k. Qualifying balances over $50k earn 1.50% APY (not a typo), with non-qualify balances not earning any interest. Like the Kasasa Cash+ account, the Kasasa Saver account has no minimum balance requirement or monthly service fee, and is limited to one account per Social Security number.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.50*%$50k-Kalsee Credit UnionKasasa Saver
OTHER TIERS: 1.00% Up to $50k
Rates as of May 20, 2019.

Thanks to DA reader, Ally6770, for the Forum post about this new high-rate Rewards Checking Account.

Availability

Headquartered in Kalamazoo in southwest Michigan, KALSEE Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live, work, or attend school in the Michigan counties of Allegan, Barry, Branch, Calhoun, Cass, Kalamazoo, St. Joseph, or Van Buren eligible for membership.

Immediate family members of the above mentioned individuals are also eligible for KALSEE membership, regardless of where they live.

In addition,

If you receive a retirement annuity, pension, social security, or similar retirement payment from private or government sources, and live in, or belong to a retirement organization located in Kalamazoo County or an adjacent county, you are eligible to join.

Joining KALSEE and/or opening a CD can be done at any of five Michigan branches located in Kalamazoo (3), Portage, and Springfield. While there is an “Open an Account” button on a number of pages on KALSEE's website, the link isn’t working. I’ll update the status of the online application when I have more information.

Your initial deposit of $1.00 opens your savings
account, and is your share in the credit union.

KALSEE participates in both the CO-OP Share Branching and the Xtend Shared Branching networks.

Shared Branching Outlets are located across the United States and in countries across the world: Puerto Rico, Japan, South Korea, Italy and Germany. Be sure to look for the CO-OP Shared Branch (CU Service Center) or Xtend Shared Branch logo as you travel, or find a shared branch location near you, wherever you go.

Credit Union Overview

KALSEE Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 4.39% (excellent) based on December 31, 2018 data. In the past year, KALSEE has increased its total non-brokered deposits by $3.33 million, an above average annual growth rate of 2.18%. Please refer to our financial overview of KALSEE Credit Union (NCUA Charter # 61219) for more details.

KALSEE Credit Union was established in 1954 as the Lift Line Credit Union for the benefit of National Water Lift employees. In its 63-year history, KALSEE (an acronym for Kalamazoo South East Employees) has had three names, has merged with nine other local credit unions, and has expanded its charter three times. KALSEE currently has more than 23,000 members, with assets in excess of $186 million.

How the Kasasa Cash+ Compares

When compared to 66 High Yield Reward Checking Accounts tracked by DepositAccounts.com that are available within the FOM and have maximum qualifying balances of at least $25k, KALSEE Credit Union’s Kasasa Cash+ APY currently ranks first.

Interest RateAccount NameCredit Union/Bank
4.25% APYKasasa Cash+ (up to $25k)KALSEE Credit Union
4.00% APYPremium Checking (up to $30k)Orion Federal Credit Union
3.33% APYeCentive Account (up to $25k)Heritage Bank

The above rates are accurate as of 5/14/2019.

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: Grand Rapids checking accounts, reward checking accounts

Comments
TEX78
TEX78   |     |   Comment #1
Talked with the Contact Center (CSRs), she said the Kasasa Cash+ and Kasasa Cash are mutually exclusive, for example, 21 debit transactions are not enough to meet the Cash+ requirements that month, and there is no automatic fallback to receive the Cash rewards (3%, 12 debits). Must enroll in one or the other--just clarification.
Ted
Ted   |     |   Comment #2
This is a good bargain for the bank. I am quite confident that many, many people will fail to hit the necessary 24 debit card purchases, which will disqualify them for such a high interest rate.
#3 - This comment has been removed for violating our comment policy.
KALSEE CU (MI) Adds Kasasa Cash And Kasasa Saver

Deal Summary: Kasasa Cash, 3.00% APY up to $25k

Availability: Eight southwest Michigan counties

In mid-January, KALSEE Credit Union began promoting its new Kasasa Cash checking account that earns 3.00% APY on qualifying balances up to $25k. Qualifying balances over $25k earn 0.35% APY, with non-qualify balances earning 0.05% APY.

Kasasa Cash Qualification Requirements

  • At least 12 debit card purchases.
  • Be enrolled in and agree to receive eStatements.
  • Be enrolled and log into It’s Me 247 online or mobile banking.

The Kasasa Cash checking account has no minimum balance requirement or monthly...

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KALSEE Credit Union (MI) Offers Competitive 13-Month CDE
Availability: Residents of the Michigan counties of Allegan, Barry, Branch, Calhoun, Cass, Kalamazoo, St. Joseph, and Van Buren.

Earlier this month, KALSEE Credit Union (KALSEE CU) introduced a limited-time 13-month CD with tiered APYs based on its My Kalsee Perks reward program.

The base APY is 1.15%, with increased APYs for KALSEE Perks Platinum Members (1.25%) and KALSEE Perks VIP Members (1.50%). The minimum deposit for the 13-month CD is $1K, with a maximum deposit of $250K per member.

The 13-month CD is also available as an IRA (Traditional, Roth, and...

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