Free Kasasa Cash Checking

*To earn your account’s rewards, the following enrollments must be in place and all transactions and activities must post and settle to your Kasasa Cash – Multi-Level account during each “Monthly Qualification Cycle”:

Principle Qualifications:

o   Have a minimum of one ACH debit, or one direct deposit, or one bill pay transaction post and settle your account;

o   Have a minimum of 10 debit card purchases post and settle your account

o   Be enrolled in and agree to receive e-statements rather than paper statements

Enhanced Qualifications:

o   Have a minimum of one ACH debit, or one direct deposit, or one bill pay transaction post and settle your account;

o   Have a minimum of 30 debit card purchases post and settle your account

o   Be enrolled in and agree to receive e-statements rather than paper statements

“Monthly Qualification Cycle” is a period beginning two business days prior to the first day of a calendar month through two business days prior to the last day of a calendar month. Transactions posted and settled on the last two business days will qualify for next month’s qualification.

Qualification Information: Account transactions and activities may take one (1) or more banking 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. “Banking Day” means any business day on which an office of the Credit Union is open to the public for the purpose of carrying out substantially all of its banking functions. 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. 

Dividend Rate and Annual Percentage Yield: This is a variable rate account. The dividend rate and annual percentage yield may change. The dividend rate is determined at our discretion, and we may change the dividend rate on your account at any time, without any limitations, and without notice to you. When your Kasasa Cash-Multi-Level account qualifications are met during a Monthly Qualification Cycle:

Principle Rewards:  (1) average daily balances up to and including $15,000 in your Kasasa Cash account earn a dividend rate of 2.48% resulting in an APY of 2.51%; and average daily balances over $15,000 earn a dividend rate of 0.49% on the portion of the average daily balance over $15,000, resulting in a range from 2.51% to 0.76% APY depending on the account's average daily balance and (2) you will receive reimbursements up to $25 for nationwide ATM fees incurred during the “Monthly Qualification Cycle” in which you qualified.

or

Enhanced Rewards: (1) average daily balances up to and including $15,000 in your Kasasa Cash account earn a dividend rate of 5.85% resulting in an APY of 6.01%; and average daily balances over $15,000 earn a dividend rate of 0.49% on the portion of the average daily balance over $15,000, resulting in a range from 6.01% to 1.22% APY depending on the account's average daily balance and (2) you will receive reimbursements up to $25 for nationwide ATM fees incurred during the “Monthly Qualification Cycle” in which you qualified.

When your Kasasa Cash-Multi-Level account qualifications are not met during a Monthly Qualification Cycle: Principle & Enhanced Rewards:   the entire average daily balance in the Kasasa Cash-Multi-Level account earns a dividend rate of 0.05% resulting in an annual percentage yield of 0.05% APY and ATM fees are not refunded.

APY = Annual Percentage Yield. APY is accurate as of 09/01/2023. We reimburse ATM withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM 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. No minimum balance is required to earn or to receive the account’s rewards. Interest and ATM fee reimbursements will be credited to your Kasasa Cash account on the first processing day of the following “Statement Cycle”. “Statement Cycle" means the period of time for which MCT Credit Union provides a summary of the financial activities and transactions that post and settle to the accountholder's account. 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, log-ons and other requirements apply. $5 minimum deposit is required to open the account. Enrollment in electronic services (e.g. online banking, electronic statements and log-ons) may be required to meet some of the account’s qualifications. Limit 1 account per social security number. There are no recurring monthly service charges to open or close this account. Contact a MCT Credit Union service representative for additional information, details and enrollment instructions. Kasasa and Kasasa Cash are trademarks of Kasasa Ltd., registered in the U.S.A.

American Share Insurance insures each account up to $250,000. Excess Share Insurance Corporation provides up to an additional $750,000 of insurance per account. This institution is not federally insured. Members' accounts are not insured or guaranteed by any government or government-sponsored agency.