Kellogg Community Credit Union (MI) Adds Competitive 44-Mo CD Special
In the past few years, Kellogg Community Credit Union (KCCU) has been offering limited-time Certificate Specials (CS). The most recent are a 44-month CS earning a competitive 1.60% APY and a 22-month CS earning a middling 0.90% APY. Either CD can be opened with a $500 minimum deposit, with no stated balance cap.
The Certificate Specials are also available as IRA Certificate Specials (Traditional, Roth, CESA), earning the same APYs with the same deposit requirements.
As stated in the Truth-in-Savings disclosure, the Early Withdrawal Penalty reads as follows:
Terms of 13 months or longer – 180 days’ dividends
eChecking and Kasasa Cash
KCCU continues to be one of the few credit unions that offer two separate rewards checking accounts.
KCCU introduced its eChecking account in 2015 and initially earned 4.00% APY on qualifying balances up to $15k; within the last week, the rate was upped to 4.25% APY, with the $15k balance cap still in effect. The monthly qualifying requirements include,
- Minimum of $500 in direct deposit(s)
- Minimum of four online banking logins
- Minimum of 20 debit card transactions
- Receive eStatements
- Enroll in bill pay
KCCU began offering Kasasa products in December 2017. The Kasasa Cash account earns 4.25% APY, but has a much lower balance cap of $7.5k. The Kasasa Cash qualifying requirements are quite similar to that of the eChecking account.
- Minimum of $500 in direct deposit(s)
- Minimum of one online banking login per month
- Minimum of 12 debit card transactions
- Receive eStatements
- Maintain a valid e-mail address
Kasasa Saver Account
KCCU also offers a Kasasa Saver account, as a companion account to Kasasa Cash and Kasasa Cash Back accounts. Earned rewards automatically sweep to this account each month. The Kasasa Saver account now earns 0.50% APY (up from 0.25% APY) on qualifying balances up to $25k; qualifying balances over $25k earn 0.25% APY, with non-qualifying balances earning 0.01% APY.
Annual Earnings of Combined Kasasa Cash/Kasasa Saver Accounts
The potential combined annual earnings of a Kasasa Cash account (4.25% APY/$7.5k) and a Kasasa Saver account (0.50% APY/$25k) is approximately $443 (1.365% APY/$32.5k), which is a competitive APY for a moderate-sized balance in a rewards checking/saver combo.
Kasasa Cash Back
The Kasasa Cash Back account offered by KCCU currently earns 5.00% cash back on up to $200 in monthly debit card purchases. If you are planning on maintaining a balance of less than $2,800, the Kasasa Cash Back account would probably be a better deal than the Kasasa Cash account, as the maximum annual earnings for the Kasasa Cash Back account is $120 ($10 per month).
Availability
Headquartered in Battle Creek, Kellogg Community Credit Union’s field of membership (FOM) is community-based, with individuals who live, work, worship, or attend school in the Michigan counties of Allegan, Barry, Berrien, Branch, Calhoun, Cass, Ionia, Kalamazoo, Kent, Montcalm, Newaygo, Ottawa, St. Joseph, or Van Buren, eligible to join.
Relatives of current KCCU members also qualify for membership. (The website does not specify which relatives qualify.)
Joining KCCU can be done online, or at any of 13 Michigan branches located in Battle Creek (5), Grand Rapids, Kalamazoo (3), Marshall, Portage, and Three River. According to the KKCU’s Locations & ATMs page, the lobbies of the Battle Creek 2nd Street branch and the Downtown branch, and the Oakland Drive branch in Kalamazoo are open by appointment only.
KCCU membership requires a minimum savings account deposit of just $5.00.
According to CSR, opening a Certificate Special can be done at any of the above-mentioned branch locations or by calling 269.968.9251. Current KCCU members can also open a Certificate Special by logging into their online banking account.
In addition to the CO-OP Shared Branching and ATM networks, KCCU participates in the Xtend Shared Branching network that,
serves thousands of members in over 10 states with over 200 branch locations; many of them are located right here in Michigan.
Credit Union Overview
Kellogg Community Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 4.03% (excellent) based on December 31, 2021 data. In the past year, KCCU increased its total non-brokered deposits by $73.6 million, an excellent growth rate of 11.73%. Please refer to our financial overview of Kellogg Community Credit Union (NCUA Charter# 68678) for more details.
In 1941, twelve Kellogg Company employees contributed $5 each and applied for a charter, forming a credit union to serve the financial needs of Kellogg Company employees and retirees in Battle Creek.
81 years later, Kellogg Community Credit Union has grown to become Michigan’s 28th largest credit union, with more than 45,000 members and assets in excess of $818 million.
How the 44-Month Certificate Special Compares
When compared to similar length-of-term CDs tracked by DepositAccounts.com which are available within the FOM and have minimum deposit requirements of $10k or less, one credit union and one bank currently have a higher rate than offered on Kellogg Community Credit Union 44-month Certificate Special. The following table compares the 44-month Certificate Special to the two highest-rate CDs from other credit unions and the two highest-rate CDs from banks.
The above information and rates are accurate as of 3/15/2022.
To look for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.