Andrews Federal Credit Union, based in Maryland, is now offering Kasasa Cash Checking, a high-yield reward checking account featuring an attractive 6.00% APY on qualifying balances up to $25k.
Additionally, they offer a Kasasa Saver account with a 2.00% APY on qualifying balances up to $100k.
Both accounts come with easy membership requirements, making them accessible to a broad range of customers.
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
About the Offer
How to Qualify
To earn the high APYs with the Kasasa Cash Checking and Kasasa Cash Back accounts, members must meet the following criteria:
- Complete at least 15 debit card purchases.
- Have at least one direct deposit or ACH transaction.
- Enroll in and agree to receive eStatements.
The Kasasa Cash Checking account is free of monthly service fees, requires no minimum opening deposit, and has no minimum balance for earning rewards. Interest is credited on the last day of the current statement cycle.
Furthermore, up to $25 in nationwide ATM fees are reimbursed each statement cycle if qualifications are met.
Kasasa Saver
The Kasasa Saver account, offering a 2.00% APY on balances up to $100k, is designed to work in tandem with the Kasasa Cash Checking account.
Rewards earned from the checking account are automatically transferred each month to the Kasasa Saver.
Like the checking account, it has no monthly service fees or minimum opening deposit and is limited to one account per member.
Annual Earnings
The combined annual earnings potential of the Kasasa Cash Checking and Kasasa Saver accounts is approximately $3,500, which translates to an effective APY of 2.8% on a total balance of $125k.
Kasasa Cash Back
The Kasasa Cash Back account offers 3.00% cash back on debit card purchases, up to $300 in monthly debit card purchases.
This account may be more suitable for those maintaining balances under $1,800.
Membership and Account Opening
Membership in Andrews Federal Credit Union is open to virtually all U.S. citizens and resident aliens with a valid Social Security number.
Joining the American Consumer Council (ACC) is one pathway to membership.
Other eligible individuals include those who live, work, worship, or attend school in Washington, D.C., U.S. military personnel, and employees of specific businesses and groups.
Accounts can be opened online or at any of the ten full-service branches in the U.S. A $5 deposit to a Base Share Savings Account is required to establish membership.
Credit Union Overview
Andrews Federal Credit Union, established in 1948, is now Maryland’s fourth largest credit union with over 133,000 members and assets exceeding $2.4 billion.
Pros & Cons
Pros
- High APY of 6.00% on Kasasa Cash Checking.
- No monthly fees and no minimum balance requirements.
- Nationwide ATM fee reimbursements.
- Additional Kasasa Saver account with a decent APY.
Cons
- Maximum balance caps for high APY.
- Specific qualifying requirements for earning high APY.
- Limited number of physical branches.
Our Take on the Offer
Andrews Federal Credit Union’s Kasasa Cash Checking and Saver accounts represent a compelling opportunity for those looking to maximize their interest earnings.
The 6.00% APY on the checking account is notably higher than many competitors, particularly for balances up to $25k.
The additional Kasasa Saver account, while offering a lower APY, is a convenient option for managing larger savings.
However, it’s crucial for potential members to consider the qualifying requirements and the balance caps when deciding if these accounts align with their financial goals.
Overall, these accounts offer valuable benefits for those who can consistently meet the qualifying criteria.
See more:
- Andrews Federal Credit Union: Competitive 24-Month CD at 3.80% APY
- Andrews Federal Credit Union Bonus: $150 Checking Offer [DC] – No End Date
- Andrews FCU 5.25% APY 7.5 Month CD Offer
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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