[Negative Changes] ECCU/AdelFi Kasasa Cash Checking Account – 3% APY On Balances Up To $10,000 – No Direct Deposit Required [Christian Banking]

Update 2/18/22: Name is now AdelFi. Hat tip to Drew$$

Update 12/15/21: This is ending on February 1, 2022. After that the rate will go down to .05%.

Update 9/2/20: Reminder that the maximum balance is now $10,000.

Update 7/24/20: E-mail has been sent out stating that the maximum balance for 3% APY will be reduced from $35,000 to $10,000 on September 1st 2020.

Offer at a glance

  • Interest Rate: 3% APY
  • Minimum Balance: None
  • Maximum Balance: $10,000
  • Availability: To qualify for membership you must be related to a current member. Another way to qualify is to agree to ECCU’s Statement of Faith, and supply the name of the church and the city.
  • Direct deposit required: None
  • Additional requirements: See below
  • Hard/soft pull: Soft pull
  • ChexSystems: Unknown
  • Credit card funding: Up to $5,000 $2,500 $500
  • Monthly fees: None
  • Insured: NCUA

The Offer

Direct link to offer

  • ECCU offers a kasasa cash checking account. This account earns 3% APY on balances up to $10,000 when you complete the following requirements each monthly qualification cycle:
    • At least 12 debit card purchases
    • Be enrolled in online statements
    • Be enrolled in and log into online banking

The Fine Print

  • 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.

  • “Monthly Qualification Cycle” differs from the current statement cycle. Contact member services at 800.634.3228 or internationally at 714.671.5705. or reference any of the Kasasa Truth In Savings Disclosure documents for specific Monthly Qualification Cycle dates.

  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

This account has no monthly fees to worry about

Our Verdict

Please keep comments to discussing this account/hard pull soft pull. I really don’t enjoy moderating comments when people just go entirely off topic. In terms of this account itself it seems like a good option compared to other high interest accounts. We still need to know if it’s a hard or soft pull. We will be adding this to our best high yield savings account pages.

 
    William Charles
  • On February 18, 2022, 20:05

View Comments (220)

  • FYI, closed my account via secure message. A couple of messages back and forth and it was done.

  • @will @chucksithe

    They sent another email reminder that the kasasa accounts will be ending February 1st.

    Kasasa Saver accounts will become Preservation Savings accounts. 1.0% APY on upto $250,000. Interest rate is good until Feb 1, 2023. No qualifiers for getting the interest rate.

    Kasasa Cash and Cash Back caccounts will become Interest Checking accounts. 0.05% APY.

    **Kasasa Cash and Cash Back account holders can open Preservation Accounts only between Feb 1 and March 1, 2022.

    I called today to clarify the changes. I have a Kasasa Checking account. They customer service rep said they could open a traditional savings account today and on Feb 1 it will become a Preservation Savings account.

    New customers to ECCU can open a money market account with 1.0 APY on upto $100,000. Four free withdrawals a month. Use the promo code MMA100 when opening the account.

  • They sent out an email yesterday saying that they are going to be changing their name and logo. They did not reveal the new name and logo. They said in the coming weeks that they will be announcing more information.

  • I’ll keep my accounts with them. Kasasa Saver will be converted to 1% APY without requirements. And they have great billpay feature to meet dd requirements for other deals. And I like how their external transfers work.

  • Lesson learnt from all these Kasasa crap is it is a trap by banks to lure in money and customers which only lasts few months to a year or 2. I stay away from Kasasa these days.

    • From someone who as done LOL KASASA your not wrong that the rates are generally a bait and switch. Everyone has their own threshold for effort vs reward. For me the extra thousands in interest I have earned is worth switching banks every few months. But I understand why it is not for everyone.

          • I already do have a ETFCU vertical checking, which gives me 3.3% APY. But, can I also apply for a vertical checking account from Liberty Financial? Liberty Financial website said they are a division of ETFCU.

          • I called Liberty Financial to check with them, and the rep said that since they are owned by ETFCU, they only allow one Vertical Checking per SSN. Bummer.

          • @guest_1301868, I would like to know this as well. If you can have an ETFCU account and Liberty Financial then that would be amazing!

          • I tried applying for ETFCU. I was denied. They are Chex sensitive. I have opened around 18 accounts in the past 12 months.

            I called and spoke with a customer service rep. They said that opening all those accounts is a red flag. They said that I could try applying again in a few months.

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