Kellogg Community Credit Union Has 2 Rewards Checking Accounts
Almost five years ago, Kellogg Community Credit Union (KCCU) unveiled its new rewards checking account (RCA), the eChecking account. The initial 4.00% APY on qualifying balances up to $15k is still in effect. Qualifying balances over $15k and non-qualifying balances do not earn any interest. While the $15k qualifying balance cap is too low for many DA readers, this could be a good account for someone who doesn’t have a large amount to deposit and is looking for a high APY.
The monthly qualifying requirements haven’t changed either:
- Minimum of 20 debit card transactions
- Minimum of $500 in direct deposit
- Minimum of four online banking logins
- Receive eStatements
- Enroll in bill pay
Kasasa Cash
KCCU is one of the few credit unions that offers two separate RCAs. When the Kasasa brand product line was added in late 2017, I thought the eChecking account might be phased out. I was wrong. The Kasasa Cash account earns 4.25% APY, but the qualifying balance cap is only $7.5k. Qualifying balances above $7.5k earn 0.25% APY, with non-qualifying balances earning 0.01% APY.
| APY | MIN | MAX | INSTITUTION | PRODUCT | DETAILS |
|---|---|---|---|---|---|
| 4.25*% | - | $7.5k | Kellogg Community Credit Union | Kasasa Cash | |
| OTHER TIERS: 0.25% → $7.5k+ | |||||
The Kasasa Cash qualifying requirements are similar to that of the eChecking account.
- Minimum of 12 debit card transactions
- Minimum of $500 in direct deposit
- Minimum of one online banking login
- Receive eStatements
- Maintain a valid e-mail address
Availability
Headquartered in Battle Creek, Michigan, Kellogg Community Credit Union’s field of membership (FOM) is residency 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, Muskegon, Newaygo, Ottawa, St. Joseph, or Van Buren eligible to join.
Relatives of current KCCU members also qualify for membership.
Joining KCCU and/or opening an eChecking account can be done online, by calling Member Services (269.968.9251), or at any of 12 Michigan branches located in Battle Creek (5), Grand Rapids (2), Kalamazoo (3), Marshall, Portage, Three Rivers, and Wyoming. The Grand Rapids branch (Patterson Avenue) is temporarily closed.
We are currently in phase three of our branch reopening. All our branch lobbies are now open to serve members, except for out Patterson Avenue and Second Street branch. For our team to safely practice social distancing, we feel it is necessary to keep the Second Street lobby available by appointment only, but the drive-up is open to serve members!
Opening a savings account with a $5 minimum deposit is required to establish a KCCU membership.
KCCU participates in both the CO-OP Shared Branch and ATM networks.
Credit Union Overview
Kellogg Community Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 3.49% (excellent) based on March 31, 2020 data. In the past year, KCCU increased its total non-brokered deposits by $94.62 million, an excellent growth rate of 20.15%. Please refer to our financial overview of Kellogg Community Credit Union (NCUA Charter # 68678) for more details.
As you might guess, Kellogg Community Credit Union began as a credit union for the employees of the Kellogg Company. In 1941, twelve Kellogg employees each contributed $5, applied for a charter, and Battle Creek had a new credit union. In nearly 80 years of operation, Kellogg Community Credit Union as grown to become Michigan’s 25th largest credit union, with nearly 42,000 members and assets in excess of $666 million.
How the eChecking Account Compares
When compared to 80 High Yield Rewards Checking Accounts tracked by DepositAccounts.com that are available within the FOM and have maximum qualifying balances of at least $15k, Kellogg Community Credit Union’s eChecking APY* currently ranks second.
| Interest Rate | Account Name | Credit Union/Bank |
|---|---|---|
| 4.25% APY | Kasasa Cash ($15k max) | Kalsee Credit Union |
| 4.00% APY | eChecking ($15k max) | Kellogg Community Credit Union |
| 3.30% APY | Vertical Checking ($20k max) | Evansville Teachers Federal Credit Union |
The above rates are accurate as of 7/29/2020.
To search for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.
*We continue to work to keep our rates up-to-date, but there have been just too many rate cuts for us to process quickly. For the time being, please be aware that the rates listed at DepositAccounts.com may not reflect the latest rates published by the banks and credit unions.
