Pelican State Credit Union
Founded in 1956, Pelican State Credit Union has grown to more than 32,000 members throughout the United States. They have become one of the largest state chartered credit union in Louisiana.
Pelican Sate Credit Union has a free checking account offer called Kasasa Cash. Kasasa Cash allows you to earn a 4.01% APY. This Annual Percentage Yield (APY) is accurate as of April 16, 2012. Contact your local Pelican State Credit Union branch for additional details as these rates are subject to change at any time.
If you currently have an active checking account, you probably already know that the majority of free checking accounts do not pay interest on your money. In addition, the rates paid by most banks are well below 1%. So, for you to be able to earn a 4.01% APY is literally outrageous!
How does it work? Open a Kasasa Cash account today with whatever amount of cash you have in your pocket. Pelican State Credit Union will even reimburse all of your ATM fees, not just in Baton Rouge or Louisiana, but nationwide.
Kasasa Cash account Benefits:
- 4.01% APY on balances up to $10,000
- 0.50% APY on amount of balance over $10,000
- 0.05% APY if qualifications aren’t met
- Unlimited ATM fee refunds nationwide (ATM fees incurred during the monthly qualification cycle will be reimbursed if qualifications are met during the monthly qualification cycle. ATM fee reimbursements will be credited to your account by the second business day of your statement cycle.)
- No monthly service fee
- No minimum balance requirement
- Free online banking and bill pay
- Free eStatements
- Free Visa debit card
- No minimum deposit to open
- Link to Kasasa Saver savings account for free automatic savings
Qualifying for Kasasa Cash is easy. Simply do the following each monthly qualification cycle:
- Receive Free eStatements
- Access online banking
- Have at least 15 check card transactions post and clear
- Have at least 1 direct deposit, online bill payment, or automatic debit (ACH) post and clear
The good news is that there is no penalty if you come up short. You will still earn dividends, but at different and lower rate.
Note: Annual Percentage Yields (APYs) are accurate as of 4/16/12. Balances up to $10,000 receive an APY of 4.01% if qualifications are met each monthly qualification cycle. Balances above $10,000 receive an APY of 0.50% on the portion of the balance above $10,000 if qualifications are met each monthly qualification cycle. As a result, the APY for balances above $10,000 will range from 4.01% – 0.50% if qualifications are met each monthly qualification cycle, depending on the balance in the account. If qualifications are not met, the APY will be 0.05% on all balances. Rates may change after the account is opened. Fees may reduce earning. Monthly direct deposit is required to have this account. This account is a tiered rate account.
If your average daily balance is from $1.00 to $10,000 and you meet all of the following service requirements during the monthly qualification cycle, then the first Dividend Rate and Annual Percentage Yield listed for this account in the Rate Schedule will apply: 1) Fifteen (15) qualifying transactions must post to and clear to the account during the monthly qualification cycle, ATM transactions do not qualify. 2) One direct deposit or ACH auto debit or Bill Pay. 3) Sign up for and receive eStatements. 4) Access the Pelican State Credit Union website by 2pm on the second to the last day of the month.
Any balances $10,000.01 and above and you meet all of the service requirements, the second Dividend Rate an APY listed for this account on the Rate Schedule will apply. If any of the service requirements are not met for this account, the third Dividend Rate and APY listed for this account will apply, regardless of the average daily balance. Transactions may take one or more banking days from the date the transaction was made to post to an account. Transfers between accounts do not count as qualifying transactions. The monthly qualification cycle is not the same as your monthly statement cycle. Monthly qualification cycle is the last day of the month to second to the last day of the next month. Monthly statement cycle is the first day of the month to the last day of the month. Pelican State Credit Union reserves the right to limit the number of accounts allowed per owner, joint or individually owned.
Account Terms and Conditions can change at any time. Contact a Pelican State Representative for more details.