Deal Summary: Kasasa Cash checking, 2.50% APY up to $50k.
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.
|2.50*%||-||$50k||Neighborhood Credit Union||Kasasa Cash|
|OTHER TIERS: 0.20% → $50k+|
Kasasa Cash Qualifying Requirements
- Have at least 15 debit and/or credit transaction of $5 or more.
- One Direct Deposit or Automatic Payment.
- Be enrolled and receive eStatements.
The Kasasa Cash account has no minimum balance requirement or monthly service fees. It requires a minimum of $100 to open, and there is a limit of one account per Social Security Number. Unlimited domestic ATM fees incurred during a qualifying cycle will be reimbursed. According to the Credit Union’s website, Neighborhood CU is the only Dallas area credit union to offer a Kasasa Cash account.
Headquartered in Dallas, Texas, Neighborhood Credit Union’s field of membership (FOM) is primarily residency-based, with individuals who live or work in Dallas or Ellis Counties or the City of Arlington eligible to join.
In addition, 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.
Residents of the following Texas counties, who join the American Consumer Council, are eligible for membership: Collin, Delta, Denton, Hunt, Johnson, Kaufman, Parker, Rockwall, Tarrant, and Wise.
Employees and retirees of more than 100 SEGs (including the Dallas or Arlington District 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 account can be done online or at any of eleven full-service Texas branches located in Arlington, Coppell, Dallas (3), Duncanville, Grand Prairie, Lancaster, Mesquite, Richardson, and Waxahachie.
Credit Union Overview
Neighborhood Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 3.93% (excellent) based on December 31, 2016 data. In the past year, Neighborhood CU has increased its total non-brokered deposits by $173.78 million, an excellent annual growth rate of 50.01%. 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 48,200 members and assets in excess of $596 million, Neighborhood Credit Union is currently the 39th largest credit union in Texas.
How the Kasasa Cash Compares
There are only three Reward Checking Accounts (RCA) available within the FOM that have maximum qualifying balances of at least $50k, which makes an accurate comparison a bit wonky. Therefore, when compared to the 65 High Yield RCAs tracked by DepositAccounts.com that are available within the FOM and have maximum qualifying balances of at least $25k, Neighborhood Credit Union’s Kasasa Cash APY currently ranks first.
|Interest Rate||Account Name||Credit Union/Bank|
|2.50% APY||Kasasa Cash (up to $50k)||Neighborhood Credit Union|
|2.27% APY||Kasasa Cash (up to $35k)||New Buffalo Savings Bank|
|2.01% APY||Kasasa Cash (up to $25k)||XCEL Federal Credit Union|
The above rates are accurate as of 3/22/2017.