bank rates

3% Checking Rate? But Wait, There’s More

Large percentage signThere are three really good things happening at Gulf Coast Community Federal Credit Union in Mississippi.

If you’re a saver in either Harrison or Hancock counties – this includes the cities of Biloxi and Gulfport – consider joining this credit union.

Here’s why:

  • Gulf Coast offers a Kasasa Cash rewards checking account that pays 3.00% APY. Rates that attractive don’t come along very often for any deposit account, let alone a checking account.
  • You can pair the checking account with a Kasasa Saver account that pays 1.51% APY, about half of a percentage point more than what the best nationally available savings account pays.
  • Both accounts feature a generous – by today’s standards, anyway – balance cap of $25,000. Any portion of the checking account above this cap pays 0.45% APY; the savings rate above the cap is 0.25% APY.

To earn the top rates you must use the debit card that comes with your Kasasa Cash account to make at least a dozen debit card purchases each month, receive at least one direct deposit or make one automatic payment per month and receive eStatements.

Along with the interest you earn, you’ll also have up to $20 in ATM fees from non-Gulf Coast machines reimbursed that month.

If you don’t meet the requirements, you’ll earn 0.05% APY for that month.

This comes at a time when SFGI Direct (www.sfgidirect.com) pays just 1.01% APY for the best nationally available savings account. You need a minimum deposit of $500 to open an account, but you don’t need to maintain a minimum balance to earn interest. The account has no monthly fees.

SFGI Direct is the online division of Summit Community Bank in Moorefield, W.Va.

At Gulf Coast Community Federal Credit Union, you need to deposit at least $100 to open a Kasasa Cash account. A Kasasa Saver account has no minimum deposit required to open an account.

You don’t need to have a certain amount in either account to earn interest, and the accounts have no monthly service fees.

The credit union has three locations along Misssissippi’s Gulf Coast, two in Gulfport and one in Bay St. Louis.

For more information, visit www.gulfcoastcommunityfcu.com or call 866-539-7029.

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Comments (1)
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  1. C.P. Alvarez said:
    on July 1st at 12:53 pm

    It appears the the Kasas a site is down. All banks and CUs linked to Kasasa to open accounts are unable to open new accounts of the Kasasa products.