New Horizons CU (AL) Changes RCA to Kasasa Cash


Availability: Residents of the Alabama counties of Baldwin, Clarke, Escambia, Mobile, Monroe, and Washington.

At the beginning of the month, New Horizons Credit Union (New Horizons CU) changed its RCA to a Kasasa Cash account which earns 2.25% APY on qualifying balances up to $10k. Qualifying balances over $10k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.

New Horizon CU’s previous RCA, Ultimate Checking, had been part of the product line since late 2008. The initial rate of 5.51% APY on qualifying balances up to $25k lasted less than a year. The APY continued to drop over the next few years, with the Ultimate Checking account earning 1.51% APY (up to $25k) just prior to the change to the Kasasa Cash account.

While the new Kasasa Cash’s APY represents an increase of 74 basis points, the lowered balance ceiling actually decreases the bottom line, as seen by comparing the total interest that can be earned in one year:

    Kasasa Cash - 2.25% x $10,000 = $225.00

    Ultimate Checking - 1.51% x $25,000 = $377.50

Kasasa Cash Qualifying Requirements

  • Have at least one bill pay, one ACH payment transaction, or one direct deposit
  • Have at least 12 debit card purchases
  • Be enrolled in and agree to receive e-Statements

The Kasasa Cash account has no minimum balance requirement, no monthly fees, and no penalty for not meeting account qualifications. ATM fees will be reimbursed up to $25 per month.

Kasasa Saver

The Kasasa Saver account currently earns 1.00% APY on qualifying balances up to $25k; balances over $25k earn 0.25% APY, with any non-qualifying balances earning 0.05% APY. The Kasasa Cash account has no monthly service fee and does not require a minimum balance to open the account or earn rewards.


Headquartered in Mobile, New Horizons Credit's field of membership is residency based, with individuals who live, work, worship, or attend school in the Alabama counties of Baldwin, Clarke, Escambia, Mobile, Monroe, and Washington eligible to join.

Joining New Horizons CU and/or opening a Kasasa Cash account can be done at any of ten Alabama branches located in Bay Minette, Daphne, Foley, Mobile (4), Saraland, Semmes, and Theodore. At this time, New Horizons CU’s online banking platform is limited to bill payments and account management.

New Horizons CU belongs to Allpoint, giving members access to more than 55,000 free ATMs worldwide.

Credit Union Overview

New Horizons Credit Union (NCUA Charter # 60799) has an overall health grade of "B+" at, with a Texas ratio of 12.77% (above average) based on December 31, 2015 data. In the past year, New Horizons CU has increased its total deposits by $12.6 million, an excellent annual growth rate of 6.83%. Please refer to our financial overview of New Horizons Credit Union for more details.

Founded in 1950 as the Scott South Division Employees Credit Union, New Horizons Credit Union is the 21st largest credit union in Alabama, with more than 39,800 members and assets in excess of $222 million.

How the Kasasa Cash Compares

When compared to the 43 High Yield Reward Checking Accounts tracked by, which are available to residents of Lower Alabama and have maximum qualifying balances of at least $10k, New Horizons Credit Union’s Kasasa Cash APY currently ranks fourth.

The above rates are accurate as of 5/7/2016.

To look for the best nationwide Reward Checking Account rates and the best Reward Checking Account rates in your state, please refer to our High Yield Reward Checking Account rates table or our new Rates Map page.

Related Pages: New Horizons Credit Union, Mobile

3.51% Reward Checking Account at New Horizons Credit Union in Alabama
Update 1/10/10: The top rate has fallen to 3.51% APY. Refer to the bottom of the post for the rate history.

New Horizons Credit Union is offering a reward checking account called Ultimate Checking. It pays 3.51% APY on balances up to $25,000 (1.01% for above) and refunds ATM fees up to $25 per cycle nationwide if the following monthly requirements are met:
  • 12 check card purchases
  • one direct deposit or automatic payment
  • receive electronic statements
If these are not met, the rate falls to 0.10%. There is no minimum deposit to open the account....

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4.54% 12-Month CD at New Horizons Credit Union in Alabama
New Horizons Credit Union is offering a very competitive 12-month certificate yield of 4.54% APY (rate of 4.45%). Minimum deposit is $500. This is also available as an IRA certificate. Since the rate table has a 10/22/08 date, I called and confirmed this is still available as of 11/20/08. It's subject to change daily.

The credit union is also offering a reward checking account that's paying 5.51% APY as of 11/20/08 (see my account review).

Membership is open to those who live, work or attend school in Mobile, Baldwin, Washington, Clarke,...

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