The last time I wrote about Liberty First Credit Union’s (Liberty First) Kasasa Cash account in late 2018, the rate had been recently raised from 3.00% APY to 4.00% APY on qualifying balances up to $40k. While the rate fell back to 3.00% APY four months ago, the Kasasa Cash account is still very competitive. Qualifying balances over $40k earn 0.15% APY, with all non-qualifying balances still earning 0.05% APY.
The qualifying requirements have remained the same since the Kasasa Cash account was introduced in 2014:
- Have at least 12 check card purchases
- Have at least one direct deposit or ACH transaction
- Be enrolled in and log into Online Access
- Be enrolled in and receive e-Statements
Liberty First’s Kasasa Cash has no monthly service fees or minimum balance requirement, but does require a $50 minimum opening deposit. Nationwide ATM fees will be reimbursed up to $15 per month, with individual ATM fees of $5 or higher requiring a receipt for reimbursement. While the Kasasa Cash comes with free online banking and bill pay, “a Bill Pay non-usage fee of $4.95 per month will be charged after 2 months of non-use.” There is a limit of one account per Social Security number.
Kasasa Saver Account
Liberty First’s Kasasa Saver account currently earns 0.75% APY on qualifying balances up to $100k; qualifying balances over $100k earn 0.15% APY, with non-qualifying balances earning 0.05% APY.
|0.75*%||-||$100k||Liberty First Credit Union||Kasasa Saver|
|OTHER TIERS: 0.15% → $100k+|
The Kasasa Saver account is a companion account to the Kasasa Cash account and can be opened with a $5 minimum deposit. Earned interest on the Kasasa Cash account are automatically transferred to the Kasasa Saver account each month.
Annual Earnings of Combined Kasasa Cash/Saver Accounts
The maximum potential combined annual earnings of the Kasasa Checking (3.00% APY/$40k) and the Kasasa Saver (0.75% APY/$100k) is approximately $1,950 (1.39% APY/$140k).
The Kasasa Brand
On an everyday level, Kasasa is free checking that rewards you each month for doing simple things you might already do. "Simple" as in banking basics that actually save you time. Like choosing e-statements over paper statements, or swiping your debit card at checkout instead of writing a check.
Ever wondered where the word “Kasasa” comes from? Its etymology is neither Greek nor Latin.
Put simply, we made it up.
In a world where real-life people are too often taken for granted as account
numbers, we didn’t want to be the next [INSERT GENERIC NAME] checking account.
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 membership-eligible individuals.
The Liberty First 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.
Our lobbies are now back open. Please note, local authorities require all individuals
inside a venue to wear a mask. It is our expectation you follow the local guidelines.
Opening a Basic Savings Account ($5 minimum deposit) is required to establish a Liberty First membership.
In addition to participating in the CO-OP Share Branch and ATM networks, Liberty First is also a member of the MoneyPass ATM network.
Liberty First Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 5.89% (excellent) based on March 31, 2020 data. In the past year, Liberty First CU has increased its total non-brokered deposits by $34.15 million, an excellent annual growth rate of 17.46%. 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 fourth largest credit union in Nebraska, with nearly 30,000 members and assets in excess of $313 million.
How the Kasasa Cash Compares
When compared to the eleven High Yield Reward Checking Accounts tracked by DepositAccounts.com, which are available within the FOM and have maximum qualifying balances of at least $40k, Liberty First Credit Union’s Kasasa Cash APY currently ranks first.
|Interest Rate||Account Name||Credit Union/Bank|
|3.00% APY||Kasasa Cash (up to $40k)||Liberty First Credit Union|
|2.01% APY||Kasasa Cash Checking (up to $50k)||First Security B&T|
|1.50% APY||High Interest Checking (up to $1m)||Quontic Bank|
The above rates are accurate as of 7/30/2020.
Interested in opening a Reward Checking Account? Please refer to our High Yield Reward Checking Account Rates Table page for both nationwide and state-specific accounts.