Deal Summary: Kasasa Cash, 3.00% APY up to $25k
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 service fee. Nationwide ATM fees will be reimbursed up to $25 monthly 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.
KALSEE CU has a Rewards Checking Account (RCA) comparison table on its Kasasa promotion page, which lists other RCAs available in the Credit Union’s market area. The table details qualification requirements, APYs, and maximum balances. It’s quite a helpful tool.
KALSEE CU also added a Kasasa Saver account, which earns 1.00% APY on qualifying balances up to $25k. Qualifying balances over $25k earn 0.35% APY, with non-qualify balances earning 0.05% APY. Like the Kasasa Cash account, the Kasasa Saver account has no minimum balance requirement or monthly service fee.
Headquartered in Kalamazoo in southwest Michigan, KALSEE Credit Union offers membership primarily based on residency, with individuals who live, work, or attend school in the Michigan counties of Allegan, Barry, Branch, Calhoun, Cass, Kalamazoo, St. Joseph, and Van Buren eligible for membership.
Immediate family members of the above mentioned individuals are also eligible for KALSEE Credit Union membership.
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 CU and/or opening an account can be done at any of five Michigan branches located in Kalamazoo (3), Portage, and Springfield. KALSEE CU's also offers a “Contact Me” form to initiate the application process.
Credit Union Overview
KALSEE Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 8.97% (excellent) based on September 30, 2016 data. In the past year, KALSEE Credit Union has increased its total non-brokered deposits by $14.78 million, an excellent annual growth rate of 11.25%. 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 CU (an acronym for Kalamazoo South East Employees) has had three names, has merged with eight other local credit unions, and has expanded its charter three times. Today, KALSEE CU has more than 22,000 members, with assets in excess of $168 million.
How the Kasasa Cash Compares
When compared to the 16 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 Rate||Account Name||Credit Union/Bank|
|3.00% APY||Kasasa Cash (up to $25k)||KALSEE Credit Union|
|2.25% APY||Kasasa Cash (up to $25k)||Main Street Bank|
|2.01% APY||Kasasa Cash (up to $25k)||XCEL Federal Credit Union|
The above rates are accurate as of 2/11/2017.