Update 3/1/21: Rate decreased to 2%
APY has been increased to 4% APY from 3%. Maximum balance has been increased from $30,000 to $40,000. Hat tip to reader Scott S
Offer at a glance
- Interest Rate: 4% APY when requirements are met, otherwise 0.05% APY
- Minimum Balance: None listed
- Maximum Balance: $30,000
- Availability: Must live, work or worship in Lancaster or Seward County, Nebraska
- Direct deposit required: Yes
- Additional requirements: See below
- Hard/soft pull: Hard pull (Experian)
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Insured: NCUA
- Liberty First Credit Union’s Kasasa Cash checking account offers a rate of 4% APY on balances up to $40,000 when the following requirements are met each monthly qualification cycle:
- Have at least 12 signature based debit card purchases post and settle
- Be enrolled and log into Online Access
- Be enrolled and receive eStatements
- Have at least one net direct deposit or ACH transaction post and settle
- Interest rate is 0.05% when requirements are not met and 0.15% when requirements are met for balances over $30,000
The Fine Print
- Qualifying transactions must post to and settle Kasasa Cash account during monthly qualification cycle.
- Transactions may take one or more banking days from the date transaction was made to post to and settle account.
- ATM-processed transactions do not count towards qualifying debit card transactions. “Monthly Qualification Cycle” means a period beginning one day prior to the first day of the current statement cycle through one day prior to the close of the current statement cycle. The advertised Kasasa Cash APY is based on compounding dividends. Dividends earned in Kasasa Cash are automatically transferred to Kasasa Saver each statement cycle and do not compound.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
This account has no monthly fees to worry about.
There are higher interest rewards account options out there, I guess the main draw to this account is the $40,000 maximum balance.