Kasasa Checking Disclosures


Kasasa Checking Account Qualifications

To earn your rewards just do the following transactions and activities in your Kasasa checking account during each Monthly Qualification Cycle:

  • Have at least one (1) ACH or Bill Pay transaction post and settle.

  • Have at least twelve (12) debit card purchases post and settle.

Transactions and activities may take one (1) or more Banking Days from the date the transaction or activity occurred to post and settle to the account. 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 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 day of the current Statement Cycle through one (1) day prior to the close of the current Statement Cycle.

  • “Statement Cycle” means the period of time for which Pheple FCU provides a summary of the financial activities and transactions that post and settle to the accountholder’s account.

Kasasa Cash Rewards

When Kasasa Cash qualifications are met during a Monthly Qualification Cycle, (1) a dividend rate of 1.98%** will be paid on the portion of your average daily balance that is less than or equal to $15,000 and annual percentage yield for this tier is 2.00%. A dividend rate of 0.30% will be paid on the portion of average daily balance that is greater than $15,000 resulting in an annual percentage yield for this tier ranging from 2.00%** to 0.52%**, depending on the account’s balance and (2) you will receive reimbursements (up to $25 per month) for nationwide ATM fees incurred during the Monthly Qualification Cycle in which you qualified. When Kasasa Cash qualifications are not met, the dividend rate paid on the entire balance will be 0.05% with an annual percentage yield of 0.05% and ATM fees are not refunded. Dividends and ATM fee reimbursements will be credited to your Kasasa Cash account on the last day of the current statement cycle. Rates and rewards are variable and may change after account is opened. Fees may reduce earnings.

Kasasa Cash Back Rewards

When Kasasa Cash Back qualifications are met during a Monthly Qualification Cycle, (1) you will receive 2.00% cash back on up to a total of $300.00 debit card purchases that post and settle to the account during that cycle period up to a maximum cash back earned of $6.00 per Monthly Qualification Cycle, as well as (2) you will receive reimbursements for nationwide ATM fees incurred during the Monthly Qualification Cycle in which you qualified. ATM fee reimbursements will not exceed $5.00 per transaction, and will not exceed $25.00 per Monthly Qualification Cycle. 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.

Kasasa Saver Awards

When Kasasa Cash or Kasasa Cash Back qualifications are met, balances up to $50,000 receive APY** of 0.75%; and balances over $50,000 earn 0.30% interest rate on the portion of balance over $50,000, resulting in a range from 0.75% to 0.45% APY** depending on the account’s balance. Kasasa Cash link: Balances up to $15,000 receive a non-compounding APY** of 1.98%; and balances over $15,000 earn 0.30% interest rate on the portion of balance over $15,000, resulting in a non-compounding range from 1.98% to 0.52% APY** depending on the account’s balance. When Kasasa Cash or Kasasa Cash Back qualifications are not met, Kasasa Saver: All balances earn 0.05% APY**. Kasasa Cash: All balances earn a non-compounding APY* of 0.05%. When linked to the Kasasa Saver account, the dividends earned within the Kasasa Cash account do not compound since it is 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’s balance is less than the transferred amount when transfer occurs.
**APY = Annual Percentage Yield. APYs accurate as of 08/16/2017. Rates and rewards are variable and may change after account is opened. Fees may reduce earnings.

Additional Information

Account approval, conditions, qualifications, limits, timeframes, enrollments, and other requirements apply. A Prime Share savings with a $5.00 minimum balance is required to open the account. Receipt of eStatements is a condition of this account. We have the right to close this account at any time, with proper notice. We also reserve the right to convert the account to a non-KASASA checking if the KASASA account does not have consistent active use over three consecutive statement cycles. Limit 1 account per social security number and/or member number. Contact a credit union service representative for additional information, details, restrictions, processing limitations and enrollment instructions.  Federally insured by NCUA. Kasasa and Kasasa Cash are trademarks of Kasasa, Ltd., registered in the U.S.A.