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Kasasa Saver Disclosure

Kasasa Saver Truth-in-Savings Disclosure


Rates effective as of 10/18/2019.
Rates subject to change at the bank's discretion. 
 
  • When the Kasasa Saver requirements are not met, the interest rate on your account and corresponding annual percentage yield (APY) is described in the chart below:
        Balance Tier       Interest Rate   Annual Percentage Yield (APY)
All Balances 0.01% 0.01%
 
  • When the Kasasa Saver requirements are met, the interest rate on your account and corresponding annual percentage yield (APY) is described in the chart below:
 
        Balance Tier       Interest Rate   Annual Percentage Yield (APY)
$0-$50,000 0.55% .55%
$50,000.01 and Above 0.10% 0.55%-0.16%
   
  • At our discretion, your interest rate and APY may change at any time.
  • Interest begins to accrue no later than the business day we receive credit for the non-cash items (for example, checks).
  • Interest is compounded monthly.  Interest will be credited to your account on the last day of each statement cycle.  If you close your account before interest is credited, you will not receive the accrued interest.
  • We use the daily balance method to calculate the interest in your account.  This method applies a daily periodic rate to the principal in the account each day.
  • The Kasasa Cash APY is based on compounding interest.  Please be aware that the interest earned in Kasasa Cash is automatically transferred to Kasasa Saver each statement cycle and does not compound.  As a result, the actual interest amount paid for Kasasa Cash may be less than the APY disclosed for that account.  The Kasasa Saver APYs may be less than the Kasasa Cash APYs.
  • You must deposit $50 to open this account.
  • You must receive your monthly statement electronically to open this account.
  • One account per Social Security Number
  • We reserve the right to at any time require not less than 7 days notice in writing before any withdrawal.  A $25 fee will apply for any account that is closed within 6 months after opening.
  • Transactions in this account are limited to six per statement cycle.  Types of transactions include checks, debit card transactions, preauthorized transfers, automatic transfers, telephone or fax transactions, and internet banking transactions.

 

Eligibility Requirements


To qualify for Kasasa Saver rates, your Kasasa Cash Back account must meet the following qualifications during the monthly qualification cycle:
 
  • Have at least 10 debit card point-of-sale transactions per “monthly qualification cycle” post and settle
  • Have at least 1 direct deposit or auto debit monthly (transaction must be over $1.00) post and settle
To qualify for Kasasa Saver rates, your Kasasa Cash account must meet the following qualifications during the monthly qualification cycle:
 
  • Have at least 15 debit card point-of-sale transactions per “monthly qualification cycle” post and settle
  • Have at least two direct deposits or auto debits monthly (transaction must be over $1.00) post and settle
 
For Kasasa Saver a “monthly qualification cycle” starts on the last business day of a month and ends on the second to last business day of the next month.  All requirements must post and settle your Kasasa Cash account during the monthly qualification cycle to be considered a qualifying account and receive the preferred rate for that month in both Kasasa Cash and Kasasa Saver.  Transactions may not be in a pending state to qualify as one of the qualifications.  Transactions may take one or more business days from the transaction date to post to an account from the date the transaction is made.  Intrabank transfers do not account as qualifying ACH transactions.  Interest is calculated and paid through the last calendar day of the month.  If you have met your eligibility requirements for the month in Kasasa Cash, we will refund domestic ATM fees up to $20 per month.

Qualification Cycle Dates