Texas Tech Credit Union Has Competitive Kasasa Brand Products


Deal Summary: Kasasa Saver, 2.00% APY, up to $25k. Kasasa Cash Back, 2.00% cash back on $400 in monthly debit card purchases.

Availability: Affiliation with Texas Tech University, Texas Tech Health Sciences Center, Lubbock Christian University, or Texas Tech Alumni Association (possible easy membership).

Texas Tech Credit Union (TTCU) has a different take on the Kasasa brand products. Rather than offering the typical Kasasa Cash account that earns a substantially higher rate than its companion Kasasa Saver account, TTCU offers a Kasasa Cash Back/Kasasa Saver combo. The Kasasa Cash Back offers no interest, but the Kasasa Saver has an interest rate that’s higher than the rates of most other Kasasa Saver accounts.

The Kasasa Cash Back account earns 2.00% cash back on the first $400 in monthly debit card purchases (maximum $8 cash back per month), if the following monthly qualifying requirements are met:

  • At least 10 debit card purchases
  • At least one direct deposit or electronic online bill payment
  • Enrolled to receive eStatements

The Kasasa Cash Back account has no monthly service fee, minimum balance requirement, or minimum opening deposit requirement. Unlimited check writing is available and a free Mastercard debit card will be issued following account opening. Nationwide ATM fees will be reimbursed up to $25 per month, if the qualifying requirements are met. A receipt is required for reimbursement of any ATM fee of $5 or higher. (TTCU also participates in the CO-OP ATM network.) There is a limit of one account per Social Security number. A Kasasa Cash Back account is required to have a companion Kasasa Saver account.

Kasasa Saver

The Kasasa Saver account links to the Kasasa Cash Back account, with earned rewards and ATM reimbursements transferred automatically each month. Qualifying balances earn 2.00% APY up to $25k, with qualifying balances over $25k earning 0.25%; non-qualifying balances earn 0.05% APY.

Like the Kasasa Cash Back, the Kasasa Saver has no monthly service fee, no minimum balance requirement, and no minimum opening deposit. There is a limit of one Kasasa Saver account per Social Security number.

Annual Earnings of Combined Kasasa Cash Back/Kasasa Saver Accounts

The potential combined annual earnings of the Kasasa Cash Back ($8 per month) and the Kasasa Saver (2.00% APY/$25k) is approximately $596. Since the Kasasa Cash Back earnings are not based on a qualifying balance (like a Kasasa Cash account), my usual calculation for the combined earnings doesn’t quite fit. In lieu of a qualifying balance, I used the $4,800 in yearly debit card purchases required to earn the maximum $96. Bottom line, $596 is the equivalent of 2.00% APY on $29,800.

The Kasasa Brand

For those not familiar with the Kasasa brand, Kasasa Cash and Kasasa Cash Back are types of Reward Checking Accounts (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.


Headquartered in Lubbock, Texas, Texas Tech Credit Union’s field of membership (FOM) is based on affiliations with a variety of organizations, with a focus on educational institutions. As TTCU’s name suggests, students, faculty, and employees of Texas Tech University qualify for membership. The faculty and employees of Texas Tech Health Sciences Center or Lubbock Christian University also qualify.

Texas Tech Alumni Association members and employees are also eligible to join. Joining the Alumni Association might be a backdoor to TTCU membership, at least for Texas residents. As stated on the Alumni Association website,

You don’t have to be a graduate to be One of Us!

The “Alumni or Friend” classification has six different donation levels, ranging from $100 to $5,000. I went through the online application and the “Degree Year” field is not a required field.

Employees of more than 20 Texas ISDs (Independent School Districts) are eligible to join, as are employees of Floyd County, Garza County, and Lynn County. A detailed list appears on TTCU’s Our Story page.

Immediate family members of individuals who qualify for membership are also welcome to apply.

Joining TTCU and/or opening Kasasa Cash Back and Kasasa Saver accounts can be done online, or in person at any of the four Texas branches located in Floydada and Lubbock (3). According to CSR, appointments are recommended and can be scheduled online.

A Regular Share Savings account (minimum $5 deposit) establishes your membership with Texas Tech Credit Union and allows you to earn competitive dividends monthly. No monthly service fee, and earn dividends on balances over $5.

Credit Union Overview

Texas Tech Credit Union has an overall health grade of "A+" at DepositAccounts.com, with a Texas Ratio of 3.58% (excellent), based on December 31, 2020 data. In the past year, TTCU has increased its total non-brokered deposits by $57.92 million, an excellent annual growth rate of 30.82%. Please refer to our financial overview of Texas Tech Credit Union (NCUA Charter # 12858) for more details.

Established in 1959, Texas Tech Credit Union’s original FOM was exclusive to faculty and staff of Texas Tech University. As a self-described “small credit union in the plains of West Texas,” TTCU realized about ten years ago that changes had to be made if it was to become the financial institution of choice for tech-savvy Texas Tech University staff and students. According to a CUTimes article,

What we’re trying to do is make our services to our members both more convenient and more personalized. For instance, students in general would rather bank by Internet than brick-and-mortar, while the older staff might prefer going to the branch. And they both have choices.

Texas Tech Credit Union is currently the 78th largest credit union headquartered in Texas, with nearly 27,000 members and assets in excess of $283 million.

How the Kasasa Saver Compares

When compared to other Kasasa Saver Accounts tracked by DepositAccounts.com that are available within the FOM, Texas Tech Credit Union’s Kasasa Saver APY currently ranks first, regardless of any balance limitations. There are other Kasasa Saver accounts with lower rates but with much higher balance caps.

The above information and rates are accurate as of 5/12/2021.

To look for the best savings account rates, both nationwide and state specific, please refer to our Savings Account Rates Table page.

Related Pages: Lubbock savings accounts, Abilene savings accounts, savings accounts, reward checking accounts


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