More than two years ago, Liberty First Credit Union (Liberty First CU) began offering a Kasasa Cash account. Before the Kasasa Cash’s first anniversary, its APY and qualifying balance cap were raised (2.50% APY, up to $25k). Liberty First CU started this week by not only raising the rate (3.00% APY) but increased the balance cap to $30k. Qualifying balances over $30k earn 0.15% APY, with non-qualifying balances earning 0.05% APY.
|3.00*%||-||$30k||Liberty First Credit Union||Kasasa Cash|
|OTHER TIERS: 0.15% → $30k+|
Kasasa Cash Qualifying Requirements
- Have at least 12 check card purchases
- Be enrolled in and log into Online Access
- Be enrolled in and receive e-Statements
- Have at least one Direct Deposit or ACH transaction
Liberty First CU’s Kasasa Cash has no minimum balance requirement or monthly fees, but does require a $50 minimum opening deposit. Nationwide ATM fees will be reimbursed up to $25 per month, with individual ATM fees of $5 or higher requiring a receipt for reimbursement. There is a limit of one account per Social Security number.
Liberty First CU also has a Kasasa Saver account, but the rate is unimpressive. The account earns 0.35% APY on balances up to $100k, with balances of $100k+ earning 0.15% APY; non-qualifying balances earn 0.05% APY Interest earned in the Kasasa Cash account is automatically transferred to the Kasasa Saver account each statement cycle. The Kasasa Saver account has a $5 minimum opening deposit, but there is no minimum balance requirement or monthly service fees.
|0.35*%||-||$100k||Liberty First Credit Union||Kasasa Saver|
|OTHER TIERS: 0.15% → $100k+|
Headquartered in Lincoln, Nebraska, Liberty First Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live, work, worship, or attend school in Lancaster or Seward Counties eligible to join.
Individuals who live outside of Lancaster and Seward Counties can join if they are related by blood, marriage, or adoption to current members or eligible non-members.
Liberty First CU’s FOM also includes 20 SEGs whose employees qualify for membership. The largest of these SEGs is the Burlington Northern Santa Fe Railway and its subsidiaries.
Joining Liberty First CU can be done online, or at any of five Nebraska branches, located in Lincoln (4) and Seward. The membership application is also available as a download and can be returned either in person or by fax.
Opening a Kasasa Cash or Kasasa Saver account can be done either online or in person at any branch location.
Liberty First Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 7.23% (excellent) based on June 30, 2017 data. In the past year, Liberty First CU has increased its total non-brokered deposits by $15.63 million, an excellent annual growth rate of 10.39%. Please refer to our financial overview of Liberty First Credit Union (NCUA Charter # 63757) for more details.
Liberty First Credit Union was originally founded in 1935 as the Burlington Employees Cooperative Credit Association, for the benefit of the employees of the Chicago, Burlington & Quincy Railroad. Less than 10 years later, the Credit Union converted from a credit association to a credit union. Liberty First CU is currently the fifth largest credit union in Nebraska, with nearly 24,000 members and assets in excess of $230 million.
How the Kasasa Cash Compares
When compared to the High Yield Reward Checking Accounts tracked by DepositAccounts.com, which are available within the FOM and have maximum qualifying balances of at least $30k, Liberty First Credit Union’s Kasasa Cash account currently ranks first.
The above rates are accurate as of 10/4/2017.