Free Kasasa Saver®
Build savings automatically while earning a high rate of return.
This free account links to your free Kasasa® checking to make saving simple. When you earn cash rewards in your Kasasa checking, those earnings automatically transfer into Kasasa Saver. Plus, Kasasa Saver pays high dividends!
Visit us today to open your Kasasa accounts.
- Free account that builds your savings effortlessly
- Links to free Kasasa Cash® or Kasasa Cash Back® checking links to Kasasa checking page
- Automatic transfers of Kasasa Cash or Kasasa Cash Back earnings
- 1.00% APY* on balances up to $50,000
- 1.00% to 0.50% APY on balances over $50,000 depending on balance in account*
- 0.05% APY* if qualifications are not met in Kasasa Cash or Kasasa Cash Back
- No monthly maintenance fee
- No minimum balance to earn rewards
- Free e-services, including:
- Online banking
- Mobile banking
- And more
- Shared branching also available
- No minimum deposit to open
Here’s how easy it is to earn the higher rate:
Qualifying for your Kasasa Cash or Kasasa Cash Back rewards automatically qualifies you for the highest Kasasa Saver rate, too. Enrollments must be in place and all of the following transactions and activities must post and settle to your Kasasa Cash or Kasasa Cash Back account during each Monthly Qualification Cycle:
- At least 12 debit card purchases
- At least 1 direct deposit, ACH payment, or bill pay transaction(s)
- Be enrolled in and log into online banking
And if you don’t meet these qualifications, don’t worry — your accounts are still free.
Plus, you’ll still earn our base rate on Kasasa Saver. And you can get right back to earning your full rewards the very next cycle that you qualify.
- Account transactions and activities may take one or more days to post and settle to the account and all must do so during the Monthly Qualification Cycle in order to qualify for the account’s rewards. The following activities do not count toward earning account rewards: ATM-processed transactions, transfers between accounts, debit card purchases processed by merchants and received by our credit union as ATM transactions, non-retail payment transactions and purchases made with debit cards not issued by our credit union. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards.
- “Monthly Qualification Cycle” means a period beginning one (1) day prior to the first banking day of the current statement cycle through one (1) day prior to the last banking day of the current statement cycle.
- See our website at www.section705fcu.org/contact or contact one of our branch service representatives for specific Monthly Qualification Cycle dates at 337-232-8450.
- Depending on what Kasasa account you have, you will receive the following rewards when you meet your account’s qualifications during a Monthly Qualification Cycle:
- Kasasa Saver: average daily balances up to and including $50,000.00 in your Kasasa Saver account earn an APY of 1% and average daily balances over $50,000.00 earn a dividend rate of .2497% on the portion of the average daily balance over $50,000.00 resulting in a range from 1.00% to .50% APY depending on the account’s average daily balance.
- You will receive reimbursements up to an aggregate total of $25 for nationwide ATM withdrawal fees incurred within your Kasasa Cash Back or Kasasa Cash account during that Monthly Qualification Cycle. We reimburse ATM withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM withdrawal fee. If you have not received an appropriate reimbursement, we will adjust the reimbursement amount if we receive the transaction receipt within sixty (60) calendar days of the withdrawal transaction.
- Depending on your Kasasa account, when your qualifications are not met, cash back payments are not made, nationwide ATM withdrawal fees are not reimbursed and:
- Kasasa Saver: the entire average daily balance in the Kasasa Saver account earns 0.05% APY.
- Dividends will be credited to your Kasasa Saver and Kasasa Cash accounts on the last day of the current statement cycle.
- The cash back payments and nationwide ATM withdrawal fee reimbursements earned in your Kasasa Cash Back account will be credited to your Kasasa Saver account on the last day of the current statement cycle.
- If Kasasa Cash or Kasasa Cash Back are linked to Kasasa Saver, the following also apply:
- Kasasa Cash: When linked to a Kasasa Saver account, the dividends earned within the Kasasa Cash account do not compound since it, along with any nationwide ATM withdrawal fee reimbursements are, automatically transferred to the Kasasa Saver account within one day. This automatic transfer may cause an overdraft to your Kasasa Cash account, if the account balance is less than the transferred amount when the transfer occurs.
- Kasasa Cash Back: When linked to a Kasasa Saver account, the cash back payments and nationwide ATM withdrawal fee reimbursements earned in your Kasasa Cash Back account will be credited to your Kasasa Saver account on the last day of the current statement cycle.
- APY = Annual Percentage Yield.
- APYs accurate as of 06/01/2021
- APY calculations are based on an assumed balance of $50,000.00 + $100,000 in your Kasasa Saver account and an assumed statement cycle of thirty-one (31) days.
- Rates, rewards, and bonuses, if any, are variable and may change after account is opened without notice to you. No minimum balance is required to earn or receive the account’s rewards. Rewards less than a penny cannot be distributed. Fees may reduce earnings.
- Additional Information:
- Membership restrictions may apply.
- Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements apply.
- No minimum deposit is required to open the account.
- Monthly Direct Deposit/ACH credit/Bill payment and e-statements are conditions of this account.
- Enrollment in e-statements is a condition of Kasasa Saver’s linked Kasasa Cash or Kasasa Cash Back accounts.
- Enrollment in electronic services (e.g. e-statements) may be required to meet some of Kasasa Saver’s linked Kasasa Cash or Kasasa Cash Back account’s qualifications.
- Limit of 1 account per social security number.
- There are no recurring monthly maintenance charges or fees to open or close this account.
- A Kasasa Cash Back or Kasasa Cash account is required to have a Kasasa Saver account.
- A linked Kasasa Saver account is required for automatic savings.
- Advertised information and rewards are based on all account qualifications being met during each cycle period.
- High rate claim is based on FDIC’s National Weekly Rates for interest checking accounts. Claim is independent of any one institution’s offerings. Comparison Source: Interest Checking, FDIC 06/01/2021. http://www.fdic.gov/regulations/resources/rates/.
- Contact one of our credit union service representatives for additional information, account details, restrictions, reward calculations, processing limitations, cycle dates and enrollment instructions.
- Federally insured by NCUA.
- Kasasa, Kasasa Saver, Kasasa Cash Back and Kasasa Cash are trademarks of Kasasa, Ltd., registered in the U.S.A.
Posted in: Share Savings