Affiliated Bank (TX) Offers Kasasa Product Line Statewide

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Deal Summary: Kasasa Cash Checking, 2.00% APY on qualifying balances up to $50k. Kasasa Saver, 1.00% APY on qualifying balances up to $200k.

Availability: All Texas residents through online application.

A few months ago, Affiliated Bank began offering two Kasasa brand products. The Kasasa Cash Checking account currently earns 2.00% APY on qualifying balances up to $50k. Qualifying balances over $50k earn 0.25% APY, with non-qualify balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.00*%-$50kSusser BankKasasa Cash Checking
OTHER TIERS: 0.25% $50k+
Rates as of May 14, 2021.

The monthly qualification requirements include,

  • At least 12 debit card purchases ($5 minimum each)
  • At least one direct deposit or ACH payment
  • Be enrolled in and agree to receive E-Statements

The Kasasa Cash Checking account has no minimum balance requirement or monthly service fee, but does require a $100 minimum opening deposit. Nationwide ATM fees will be reimbursed up to a total of $25 per month (maximum $9.99 per single transaction), if qualification requirements are met. Transaction fees of $10 or more require a receipt for reimbursement. Unlimited checking writing is available and a free debit card will be issued following account opening. There is a limit of one account per Social Security number. A Kasasa Cash account is required to have a Kasasa Saver account.

Kasasa Saver

Affiliated Bank’s Kasasa Saver account earns 1.00% APY on qualifying balances up to $200k. Qualifying balances over $200k earn 0.25% APY, with non-qualify balances earning 0.05% APY.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.00*%-$200kSusser BankKasasa Saver
OTHER TIERS: 0.25% $200k+
Rates as of May 14, 2021.

Earned rewards from the Kasasa Cash Checking account are automatically transferred to the linked Kasasa Saver every month. The Kasasa Saver has no minimum balance requirement or monthly service fee, but does require a $50 minimum opening deposit. There is a limit of one account per Social Security number.

Annual Earnings of Combined Kasasa Cash Checking/Kasasa Saver Accounts

The potential combined annual earnings of the Kasasa Cash (2.00% APY/$50k) and the Kasasa Saver (1.00% APY/$200k) is approximately $3,000 (1.20% APY/$250k). It's rare for Kasasa accounts to have such a high combined annual earnings for a large balance.

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,

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 Bedford, Texas, Affiliated Bank has a physical presence in Dallas/Fort Worth and Austin areas, but offers its new Kasasa brand product line to all Texas residents (18 years or older) who have a valid Social Security number.

Opening a Kasasa Cash Checking and/or Kasasa Saver can be done online, or at any of five Texas branches, located in Arlington, Bedford, Fort Worth, Garland, and Round Rock.

Due to the COVID-19 pandemic and as a preventative measure, our branch lobby operations are currently reduced to bank transactions by appointment only until further notice. To schedule an appointment, please call: (817) 987-2224 or (817) 987-2210.

Bank Overview

Affiliated Bank has an overall health grade of “A+" at DepositAccounts.com, with a Texas Ratio of 0.29% (excellent), based on September 30, 2020 data. In the past year, the Bank has increased its total non-brokered deposits by $178.73 million, an excellent annual growth rate of 22.61%. Please refer to our financial overview of Affiliated Bank (FDIC Certificate # 34885) for more details.

Although its doors first opened for business in 1959, Affiliated Bank celebrated its 2225 anniversary this past June. Confused? Affiliated Bank started out as the Affiliated Credit Union, serving the owners and employees of the Texas-based Affiliated Food Stores. The Credit Union converted to a federal savings bank on June 1, 1998, with assets of approximately $8 million. Affiliated Bank is currently the 66th largest bank headquartered in Texas, with assets in excess of $1.2 billion.

How the Kasasa Cash Checking Compares

When compared to the 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, Affiliated Bank’s Kasasa Cash APY currently ranks second.

The above rates are accurate as of 12/18/2020.

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: Dallas checking accounts, Austin checking accounts, reward checking accounts

Comments
Affiliated Bank (TX) Adds 13-month CD Special

Deal Summary: CD Specials – 13-month (2.75% APY), 24-month (2.85% APY), $10k minimum.

Availability: Market area includes Dallas, Tarrant, and Travis Counties, Texas.

A long-time DA reader emailed me about two CD Specials currently being offered by Affiliated Bank – a 12-month (2.75% APY) and a 24-month (2.85% APY). While the CD Specials are not listed on the Bank’s website, I did find an advertisement for the CD Specials in the July 29 edition of the Austin American Statesman. According to the advertisement, and confirmed by CSR,...

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