Neighborhood Credit Union (TX) Rewards Checking Available Statewide

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Deal Summary: Kasasa Cash, 1.25% APY up to $50k. Kasasa Cash Back, 3% cash back on $300 monthly debit card purchases.

Availability: Easy membership requirement for Texas residents.

My most recent blog post (2017) about Neighborhood Credit Union’s (Neighborhood CU) Kasasa Cash account focused on the doubling of the maximum qualifying balance cap to $50k. Earning 2.50% APY at that time, the Kasasa Cash was one of the most competitive rewards checking accounts in Texas (and the only Kasasa Cash account offered by a Dallas area credit union). While the $50k balance cap is still in effect, the APY dropped to 1.25% in a series of four rates decreases between March and October 2020. Qualifying balances over $50k earn 0.10% APY, with non-qualifying balances earning 0.01% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.05*%-$50kNeighborhood Credit UnionKasasa Cash
OTHER TIERS: 0.10% $50k+
Rates as of September 23, 2021.

The monthly qualification requirements include,

  • At least 15 debit and/or credit transactions (minimum of $5)
  • One direct deposit or automatic ACH payment
  • Be enrolled and receive eStatements and decline paper statements

The Kasasa Cash account has no monthly service fee or minimum balance requirement, but does require a minimum $100 opening deposit. Unlimited check writing is available and a free debit card will be issued following account opening. Unlimited nationwide ATM fees will be reimbursed up to $20 per month, if the qualifying requirements are met. There is a limit of one Kasasa Cash Checking account per household.

Neighborhood CU’s website provides a Kasasa Cash Calculator to help determine estimated annual and monthly rewards.

Kasasa Saver

Neighborhood CU does not offer a Kasasa Saver account.

Kasasa Cash Back

Neighborhood CU’s Kasasa Cash Back account earns 3.00% cash back on the first $300 in monthly debit card purchases. If you are planning on maintaining a balance of less than $8,700, 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 $108 ($9 per month).

The Kasasa Brand

Not familiar with the Kasasa brand? Kasasa Cash is a type of Reward Checking Account (RCA) developed by the Texas company, Kasasa, Ltd. According to the Kasasa website,

Kasasa: the free checking account that rewards each month for doing things you already do.

By performing certain actions valuable to your bank or credit union, like using your debit card or online banking, your institution makes more money, which they share with you in the form of rewards.

In case you were wondering, “Kasasa” is just a made-up word.

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.

Availability

Headquartered in Dallas, Texas, Neighborhood Credit Union’s field of membership (FOM) has changed since my last blog post in 2017. All Texas residents are now eligible for membership through a free membership in the Neighborhood Credit Union Foundation.

Members of the American Consumer Council who live in any of the Texas counties of Dallas, Denton, Hunt, Johnson, Kaufman, Parker, Rockwall, Tarrant, or Wise are also eligible to join.

Individuals who live or work in Collin, Dallas, Denton or Ellis Counties or the City of Arlington also qualify to join.

Individuals who live, work, worship, or attend school within a 10-mile radius of any of the Coppell, Grand Prairie, Highland Village, or Richardson branch locations also qualify for membership.

Employees and retirees of nearly 150 SEGs (including the Dallas and Arlington Districts of the United States Postal Service) qualify for membership.

Individuals who are “related to someone who fits any of the membership requirements” are membership eligible.

Joining Neighborhood CU and/or opening a Kasasa Cash or Kasasa Cash Back account can be done online or at any of 13 full-service Texas branches located in Anna, Arlington, Coppell, Dallas (2), Duncanville, Grand Prairie, Highland Village, Lancaster, Mesquite, Prosper, Richardson, and Waxahachie.

You can now make an in-branch or virtual appointment with Neighborhood Credit Union. Prospective members and current members can open new accounts, access safe deposit boxes, and meet with North Texas Capitol Advisors.

A $25 minimum opening deposit in a Membership Savings account establishes a Neighborhood CU membership. The $5 monthly maintenance fee only applies if the Membership Savings account is your only account and the balance falls below $500.

In addition to participating in the CO-OP Share Branch and ATM networks, Neighborhood CU participates in the MoneyPass and Allpoint ATM Networks.

Credit Union Overview

Neighborhood Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.36% (excellent) based on March 31, 2021 data. In the past year, Neighborhood CU has increased its total non-brokered deposits by $144.51 million, an excellent annual growth rate of 19.26%. Please refer to our financial overview of Neighborhood Credit Union (NCUA Charter # 67681) for more details.

Established in 1930 as the Dallas Postal Credit Union, Neighborhood Credit Union is the oldest credit union in the Dallas-Fort Worth Metroplex. By 2001, the diverse and expanded FOM necessitated a rebrand, with the result being Neighborhood Credit Union. With more than 57,000 members and assets in excess of $1 billion, Neighborhood Credit Union is currently the 30th largest credit union headquartered in Texas.

How the Kasasa Cash Compares

When compared to the few High Yield Reward Checking Accounts tracked by DepositAccounts.com that are available to all Texas residents and have maximum qualifying balances of at least $50k, Neighborhood Credit Union’s Kasasa Cash APY currently ranks third.

The above information and rates are accurate as of 6/28/2021.

Looking for the best Reward Checking Account rates, both nationwide and state specific? Please refer to our High Yield Reward Checking Account Rates Table page.

Related Pages: Dallas checking accounts, reward checking accounts

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Neighborhood CU (TX) Doubles Kasasa Cash Balance Cap To $50k

Deal Summary: Kasasa Cash checking, 2.50% APY up to $50k.

Availability: Residents of 12 Texas counties; 100+ SEGs.

Neighborhood Credit Union (Neighborhood CU) recently doubled the maximum qualifying balance cap to $50k on its Kasasa Cash (2.50% APY). Qualifying balances of $50k+ earn 0.20% APY, with non-qualifying balances earning 0.01% APY.

The previous $25k balance cap had been in effect since early 2013, when it was raised from $15k. The 2.50% APY has remained unchanged throughout the life of the account.

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Earlier this week, Neighborhood Credit Union (Neighborhood CU) raise the rate on its 17-month Online Savings CD (1.60% APY) by 45 basis points. The minimum opening deposit is $1.5k, with no stated balance cap.

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