Last year, I joined the 11% of American consumers who switched banks in search of better value and service. In my case, I jumped at the chance to earn a higher return, by moving my emergency funds from a large commercial bank to a credit union.
I really should have made the move sooner, since I pretty much knew credit unions, a staple in the Caribbean where I grew up, generally offer great savings rates to their members. But when I moved to the United States as a teen, I somehow got the impression that credit unions here were only available to government employees or military veterans, and that a community bank wasn't any different than a commercial bank.
I am so glad, now years later, I learned that that was not the case. By researching my options, I found a regional community bank I was eligible to join and was pleasantly surprised that I could even secure a mortgage at one of the most competitive interest rates when I was buying my first home.
The positive experience with my community bank's mortgage process made me wonder, what else was I overlooking?
I remembered seeing Kasasa banking options after a quick skim of my bank's website, and once my home closed, I was ready to find out more. It didn't take long for me to find that I was missing out on the ability to earn up to 200 times the annual interest rate of my commercial bank, with Kasasa Cash® and Saver® accounts!
The Kasasa Saver® was the perfect place to keep emergency funds liquid, while Kasasa Cash® was great for my everyday spending. And the best part is I earn interest in both accounts, plus ATM fee refunds every month. Winning!
Now I am truly a fan of banking at a community bank and Kasasa makes it even more worthwhile!
This post was provided by Melisa Boutin for Kasasa. Melisa Boutin runs the website yourmoneyworth.com, where she provides personal finance resources for Millennials. She is passionate about helping Millennials in the U.S. and the Caribbean make the most of their money, starting with tackling student loans. In 2016, she hosted a Student Loan Answers workshop at the University of the Virgin Islands in St. Thomas.