Tremont Credit Union’s (TCU) Kasasa Cash account currently earns 2.00% APY on qualifying balances up to $50k. Qualifying balances over $50k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.
|2.00*%||-||$50k||Tremont Credit Union||Kasasa Cash|
|OTHER TIERS: 0.25% → $50k+|
TCU began offering the Kasasa brand product line nearly two years ago, with the Kasasa Cash account initially earned 2.50% APY on qualifying balances up to $25k. The APY dropped to 2.00% in April, but the increased qualifying balance cap of $50k more than made up for the rate drop.
The Monthly Qualification Requirements include,
- At least 12 debit card purchases,
- At least one Direct Deposit, ACH Credit, or ACH Payment transaction, and
- Be enrolled in and agree to receive eStatements
The Kasasa Cash has no monthly maintenance fees or minimum balance requirements, and can be opened with a minimum $25 deposit. Unlimited nationwide ATM fees ($4.99 maximum per single transaction) will be automatically reimbursed up to $25 per monthly cycle, if the qualifying requirements are met. An ATM receipt must be presented within sixty calendar days of transaction for reimbursements of individual ATM fees of $5.00 or higher. There is a limit of one Kasasa Cash account per Social Security number or individual Taxpayer Identification Number.
Kasasa Saver Account
TCU’s Kasasa Saver account earns 1.00% APY on qualifying balances up to $25k. Qualifying balances over $25k earn 0.25% APY, with non-qualifying balances earning 0.05% APY.
|1.00*%||-||$25k||Tremont Credit Union||Kasasa Saver|
|OTHER TIERS: 0.25% → $25k+|
Earned rewards from the Kasasa Cash account are automatically transferred to the Kasasa Saver each month. Like the Kasasa Cash account, the Kasasa Saver has no monthly maintenance fee or minimum balance requirement and can be opened with a $25 minimum deposit.
Annual Earnings of Combined Kasasa Cash/Kasasa Saver Accounts
The potential combined annual earnings of the Kasasa Cash (2.00% APY/$50k) and the Kasasa Saver (1.00% APY/$25k) is approximately $1,250 (1.667% APY/$75k).
The Kasasa Brand
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.
Massachusetts Share Insurance
In addition to the NCUSIF insurance, deposits at Tremont CU are also covered by the Massachusetts Share Insurance Corporation.
MSIC now fully insures excess shares and deposits above the federal insurance limit
of $250,000 at ALL of member credit unions. As a result of the new law, MSIC will now
fully insure excess shares and deposits without limits that exceed NCUSIF coverage.
Headquartered in Milton, Massachusetts, Tremont Credit Union’s field of membership (FOM) is primarily residency based, with U.S. citizens and resident aliens who live or work in the Massachusetts counties of Middlesex, Norfolk, or Suffolk, eligible to join. In addition, individuals who worship in Suffolk County also qualify.
Employees and members of more than 260 Select Employer Groups, including the Boston Public Schools, Blue Cross Blue Shield of Massachusetts, Boston Children’s Hospital, and Dana Farber Cancer Institute, are also eligible to join.
”All family members” of current TCU members are welcome to join.
Joining TCU and/or opening a Kasasa Cash account can be done at any of three Massachusetts branches, which are located in Boston, Milton, and Roslindale. The Dorchester branch continues to be closed.
While TCU’s website has a “Join Online” button, the first sentence on the Become a Member page reads,
Online Account Opening - Coming Soon!
Opening a Primary Savings ($30 minimum) account establishes a TCU membership. A minimum balance of $30 is required to avoid a $5 monthly service charge.
Shared branches provide members with over 5,500 branches nationwide. Membership gives you access to nearly 36,000 surcharge-free CO-OP ATMs nationwide, over 9,000 of which are deposit-taking. Additionally, members can access thousands of surcharge-free SUM Network ATMs.
Credit Union Overview
Tremont Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 7.46% (excellent), based on June 30, 2020 data. In the past year, TCU increased its total non-brokered deposit by $31.83 million, an excellent annual growth rate of 18.72%. Please refer to our financial overview of Tremont Credit Union (NCUA Charter # 68349) for more details.
Founded in 1952 as the Boston Teachers Federal Credit Union, Tremont Credit Union is currently the 37th largest credit union in Massachusetts, with more than 16,500 members and assets in excess of $231 million.
How the Kasasa Cash Compares
When compared to the few High Yield Reward Checking Accounts tracked by DepositAccounts.com that have maximum qualifying balances of at least $50k and are available within the FOM, Tremont Credit Union’s Kasasa Cash APY currently ranks second.
The above rates are accurate as of 9/23/2020.
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.