SSB Bank Offers Competitive Kasasa Cash Account In Pittsburgh

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Deal Summary: Free Kasasa Cash, 2.25% APY, up to $25k. Free Kasasa Saver, 1.50% APY, up to $100k.

Availability: Pittsburgh, Pennsylvania

SSB Bank recently began offering the Kasasa brand product line. The Free Kasasa Cash account currently earns 2.25% APY on qualifying balances up to $25k. Qualifying balances over $25k earn 0.50% APY, with non-qualifying balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.25*%-$25kSSB BankFree Kasasa Cash Checking
OTHER TIERS: 0.50% $25k+
Rates as of December 4, 2020.

The qualification requirements include,

  • At least 12 debit card purchases (minimum $5 each).
  • At least one direct deposit or ACH transaction.
  • Be enrolled in and review E-Statements.

The Free Kasasa Cash account has no minimum balance requirement, no monthly service fees, and no minimum opening deposit amount. Unlimited check writing is available and the first check order is free. Nationwide ATM fees will be reimbursed up to an aggregate of $25 per statement cycle, if qualification requirements are met. A Free Kasasa Cash is required to have a Free Kasasa Saver account. There is a limit of one account per person.

Kasasa Saver

The Free Kasasa Saver account is a linked companion account to the Free Kasasa Cash account, with earned interest automatically transferred into the Free Kasasa Saver account each month. Qualifying balances up to $100k earn 1.50% APY, with qualifying balances over $100k earning 0.50% APY; non-qualifying balances earn 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.50*%-$100kSSB BankFree Kasasa Saver Account
OTHER TIERS: 0.50% $100k+
Rates as of December 4, 2020.

Like the Free Kasasa Cash account, the Free Kasasa Saver has no minimum balance requirement, monthly service fees, and no minimum opening deposit requirement.

Annual Earnings of Combined Free Kasasa Cash/Free Kasasa Saver Accounts

The potential combined annual earnings of the Free Kasasa Cash (2.25% APY/$25k) and the Free Kasasa Saver (1.50% APY/$100k) is approximately $2,062 (1.65% APY/$125k).

The Kasasa Brand

For those 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,

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.

Availability

Headquartered in Pittsburgh, Pennsylvania, SSB Bank’s primary market area is Pittburgh’s Northside and surrounding communities, but according to CSR, any Pittsburgh area resident who can come into a branch is welcome to apply for a Free Kasasa Cash and/or Free Kasasa Saver account.

SSB Bank does not have any type of online application, but there is a Get More Information form, which is essentially a “Contact Me” form. Opening a Free Kasasa Cash and/or a Free Kasasa Saver must be done at either of two Pittsburgh branches, which are located in the Northside community and McCandless Township. While the lobbies of both branches are open,

For the time being, it is in the best interest of our customers and our staff that meetings are scheduled in lieu of just stopping by with questions. With limited staff working at the branch, this also ensures that you are coming to the branch when the necessary staff are present.

Bank Overview

SSB Bank has an overall health grade of "B" at DepositAccounts.com, with a Texas Ratio of 17.54% (above average) based on June 30, 2020 data. In the past year, SSB Bank has increased its total non-brokered deposits by $33 million, an excellent annual growth rate of 28.56%. Please refer to our financial overview of SSB Bank (FDIC Certificate # 30431) for more details.

Slovak Savings and Loan Association was founded in 1922 by eight Slovak Northside residents. (No other region of the United States has more Slovaks than the Pittsburgh area, with more than 100,000 residents who claim partial or full Slovak heritage.) In 1992, the Slovak S&LA changed its charter to become a mutual savings bank and rebranded as Slovak Savings Bank. When the Bank expanded its market area in 2017, the SSB Bank name was adopted. SSB Bank is currently the 111th largest bank headquartered in Pennsylvania, with more than $242 million.

How the Free Kasasa Cash Compares

When compared to the High Yield Reward Checking Accounts tracked by DepositAccounts.com, which are available in the market area and have maximum qualifying balances of at least $25k, SSB Bank’s Free Kasasa Cash APY currently ranks second.

The above rates are accurate as of 8/27/2020.

To look 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: Pittsburgh checking accounts, reward checking accounts

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