Kasasa Savings, Personal Savings and Money Market

KASASA SAVINGS, PERSONAL SAVINGS AND MONEY MARKET

If you’re interested in our Kasasa Checking account, our Kasasa Saver account option is for you!

Here’s how it works: the high interest and ATM fee refunds you earn from your free Kasasa Checking are automatically transferred into Kasasa Saver each month. Even better, Kasasa Saver even earns its own high interest.

Earn 0.50% APY* on balances up to $50,000 when you meet the following monthly qualifications in your Kasasa Checking account:

  • Have at least 12 Debit Card Transactions (excluding ATM transactions) post and clear
  • Have at least 1 Direct Deposit or 1 ACH Auto Debit post and clear
  • Receive a Monthly Electronic Statement

Current Rewards customers wishing to upgrade to Kasasa, please contact your local Banking Center

 

See the grid below for a complete list of savings account options.

 

Kasasa Saver Account

Statement Savings Account

Premium Money Market Account

Description This account is designed to help you save automatically with your Kasasa Checking account An account for traditional savings needs Earns higher interest rates according to your balance
Minimum Opening Deposit $100.00 $100.00 $2,500.00
Minimum Balance None $300.00 $2,500.00
Monthly Maintenance Fee (if below minimum) None $3.00 $15.00
Fee per Check Written/ Withdrawals Unlimited in person; restrictions may apply to other withdrawals Unlimited in person; restrictions may apply to other withdrawals Unlimited in person; restrictions may apply to other withdrawals
Earns Interest

Variable; to receive Kasasa Saver reward rates you must meet the minimum qualification requirements for Kasasa Checking

Variable Variable based on balance
 

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Current Rewards customers wishing to upgrade to Kasasa, please contact your local Banking Center

Open a Kasasa account now

 

 

“Disclosure”

KASASA SAVER WITH KASASA CASH DISCLOSURE ADDENDUM

Interest Rates and APY

The interest rate and APY that apply to your Kasasa Saver account will be determined based on whether you have met the qualification criteria for your Kasasa Cash Checking account.

When the Kasasa Cash Checking qualifications are not met, ATM withdrawals are not refunded and the interest rate on your Kasasa Saver account will be 0.05% and the annual percentage yield will be 0.05%.

When the Kasasa Cash Checking qualifications are met, the interest rate on your Kasasa Saver account and corresponding annual percentage yield will be tiered.  If the daily balance is less than $50,000.01 the interest rate paid on that portion of the balance will be 0.499%.  The annual percentage yield for this tier will be 0.50%.  If the daily balance is more than $50,000.00 the interest rate paid on that portion of the balance will be 0.249%.  The annual percentage yield will be 0.50%.  The annual percentage yield for this tier will range from 0.50% to 0.25%. Rates as of 05/22/2018

Interest will be compounded on your Kasasa Saver account on a monthly basis. Interest will be credited to your account of the last day of the statement cycle. If you close your account before interest is credited, you WILL NOT receive the accrued interest. Interest begins to accrue on the business day you deposit noncash items (for example, checks).

The Kasasa Cash Checking APY is based on compounding interest. Please be aware that the interest earned in Kasasa Cash Checking is automatically transferred to Kasasa Saver each statement cycle and does not compound. As a result, the actual interest amount paid for Kasasa Cash Checking may be less than the APY disclosed for that account. The Kasasa Saver APY’s may be less than the Kasasa Cash Checking APY’s.

Qualifications

To qualify for Kasasa Cash Checking and Kasasa Saver Savings rates and receive reimbursements on your ATM fee surcharges, your Kasasa Cash Checking account must meet the following qualifications during the monthly qualification cycle:

  • Have at least 12 debit card purchases post and clear
  • Have at least 1 ACH or direct deposit post and clear
  • Receive eStatements

Please note that transactions MUST post and clear to your account during the monthly qualification cycle. Transactions in a pending status do not qualify as one of the qualifications. Transactions may take one or more banking days from the date the transaction was made to post and clear an account. The following transactions do not count toward account rewards: ATM-processed transactions, transfers between accounts, non-retail transactions, and purchases made with debit cards not issued by our bank. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards.

As indicated in the Truth in Savings disclosure for your Kasasa Cash Checking account, if you have met your qualifications for the month, we will reimburse you for all domestic ATM fees incurred in your Kasasa Cash Checking account.  ATM fee reimbursements credited to your Kasasa Cash Checking account will be transferred to your Kasasa Saver account automatically on the first business day following the day they were credited to your Kasasa Cash Checking account.  If an individual ATM fee is $5.00 or higher, you must contact us for reimbursement, with your receipt, within sixty (60) calendar days of the withdrawal transaction.  ATM fee reimbursements will be credited to your account on the last day of your statement cycle.  When Kasasa Cash qualifications are not met, no ATM fees will be refunded.

When you use an ATM not owned by us, you may be charged a fee by the ATM operator or network. You may be charged a fee for a balance inquiry even if you do not complete a fund transfer or withdrawal.

Monthly Qualification Cycle and Monthly Statement Cycle Explanation

“Monthly Qualification Cycle” means a period beginning one banking day prior to the first day of the current statement cycle through one banking day prior to the close of the current statement cycle. Your account will be automatically qualified on that one day prior to the first day of the current statement cycle. What this means for you is if you did not qualify for the higher preferred rate, you might notice a slightly higher than the base rate APY earned on your statement due to the one day (the last day) being calculated with the fighter preferred rate.

Cycle Date Information

Our Monthly Qualification Cycle dates are not the same as our Statement Cycle dates.  Please refer to your account’s Truth in Savings disclosure for your account’s specific qualifications.  To qualify for your account’s rewards, all of your account’s qualifying transaction must post and settle to your Kasasa Cash account within the Monthly Qualification Cycle dates.  Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning your account’s rewards.  Account transactions and activities may take one or more days to post and settle the account and all must do so during the Monthly Qualification Cycle in order to qualify for your account’s rewards.  Go to SENB.com to see your Kasasa Cycle Date Information.

Other Account Information

Rates and rewards are variable and may change after account is opened. Fees may reduce earnings.

You must maintain a minimum balance of $0.01 in the account each day to obtain the disclosed annual percentage yield.

SENB reserves the right to limit the number of accounts to two (2) accounts per social security number.

You must have a Kasasa Cash Checking account in order to open a Kasasa Saver account, and the Kasasa Cash Checking account must remain open throughout the period that you hold the Kasasa Saver account. In the event that you close your Kasasa Cash Checking account, we reserve the right to close your Kasasa Saver account.

Other Contract Terms

To receive your monthly statement electronically, the following minimum computer hardware and software requirements must be met: One of the following operating systems: Windows XP, Windows 2000 or Macintosh OSX. A secure session is established by using Secure Socket Layer (SSL) encryption and a compatible browser, such as: Internet Explorer 7.0, Netscape 7.2, Mozilla Firefox 1.0 or Safari 1.2.

If you choose not to have electronic delivery of eStatements, your account will be converted to an SENB Essential Checking account and Statement Savings account after three (3) monthly qualification cycles.

KASASA SAVER WITH KASASA CASH BACK DISCLOSURE ADDENDUM

Interest Rates and APY

The interest rate and APY that apply to your Kasasa Saver account will be determined based on whether you have met the qualification criteria for your Kasasa Cash Back Checking account.

When the Kasasa Cash Back Checking qualifications are not met, ATM withdrawals are not refunded, no cash back payments are made and the interest rate on your Kasasa Saver account will be 0.05% and the annual percentage yield will be 0.05%.

When the Kasasa Cash Back Checking qualifications are met, the interest rate on your Kasasa Saver account and corresponding annual percentage yield will be tiered.  If the daily balance is less than $50,000.01 the interest rate paid on that portion of the balance will be 0.499%.  The annual percentage yield for this tier will be 0.50%.  If the daily balance is more than $50,000.00 the interest rate paid on that portion of the balance will be 0.249%.  The annual percentage yield will be 0.50%.  The annual percentage yield for this tier will range from 0.50% to 0.25%. Rates as of 05/22/2018

Interest will be compounded on your KASASA SAVER account on a monthly basis. Interest will be credited to your account on the last day of the statement cycle. If you close your account before interest is credited, you WILL NOT receive the accrued interest. Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Qualifications

To qualify for Kasasa Cash Back rewards and Kasasa Saver Rates and receive reimbursements on your ATM fee surcharges, your Kasasa Cash Back Checking account must meet the following qualifications during the monthly qualification cycle:

  • Have at least 12 debit card purchases post and clear
  • Have at least 1 ACH or direct deposit post and clear
  • Receive eStatements

Please note that transactions MUST post and clear to your account during the monthly qualification cycle. Transactions in a pending status do not qualify as one of the qualifications. Transactions may take one or more banking days from the date the transaction was made to post and clear an account. The following transactions do not count toward account rewards: ATM-processed transactions, transfers between accounts, non-retail transactions, and purchases made with debit cards not issued by our bank. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards.

As indicated in the Truth in Savings disclosure for your Kasasa Cash Back Checking account, if you have met your qualifications for the month, we will reimburse you for all domestic ATM fees incurred in your Kasasa Cash Back Checking account.  ATM fee reimbursements will be credited directly to your Kasasa Saver Savings account on the last day of the current cycle.  If an individual ATM fee is $5.00 or higher, you must contact us for reimbursement, with your receipt, within sixty (60) calendar days of the withdrawal transaction.  When Kasasa Cash Back qualifications are not met, no ATM fees will be refunded.

When you use an ATM not owned by us, you may be charged a fee by the ATM operator or network. You may be charged a fee for a balance inquiry even if you do not complete a fund transfer or withdrawal.

Monthly Qualification Cycle and Monthly Statement Cycle Explanation

“Monthly Qualification Cycle” means a period beginning one banking day prior to the first day of the current statement cycle through one banking day prior to the close of the current statement cycle. Your account will be automatically qualified on that one day prior to the first day of the current statement cycle. What this means for you is if you did not qualify for the higher preferred rate, you might notice a slightly higher than the base rate APY earned on your statement due to the one day (the last day) being calculated with the higher preferred rate. The qualification cycle is the 21st of the month through the 20th of the next month. The qualification cycle may end earlier if the 20th falls on a weekend or holiday.

Cycle Date Information

Our Monthly Qualification Cycle dates are not the same as our Statement Cycle dates.  Please refer to your account’s Truth in Savings disclosure for your account’s specific qualifications.  To qualify for your account’s rewards, all of your account’s qualifying transaction must post and settle to your Kasasa Cash account within the Monthly Qualification Cycle dates.  Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning your account’s rewards.  Account transactions and activities may take one or more days to post and settle the account and all must do so during the Monthly Qualification Cycle in order to qualify for your account’s rewards.  Go to SENB.com to see your Kasasa Cycle Date Information.

Other Account Information

Rates, rewards and bonuses are variable and may change after account is opened. Fees may reduce earnings.

You must maintain a minimum balance of $0.01 in the account each day to obtain the disclosed annual percentage yield.

SENB reserves the right to limit the number of accounts to two (2) accounts per social security number.

You must have a Kasasa Cash Back Checking account in order to open a Kasasa Saver Savings account, and the Kasasa Cash Back Checking account must remain open throughout the period that you hold the Kasasa Saver Savings account. In the event that you close your Kasasa Cash Back Checking account, we reserve the right to close your Kasasa Saver Savings account.

Other Contract Terms

To receive your monthly statement electronically, the following minimum computer hardware and software requirements must be met: One of the following operating systems: Windows XP, Windows 2000 or Macintosh OSX. A secure session is established by using Secure Socket Layer (SSL) encryption and a compatible browser, such as: Internet Explorer 7.0, Netscape 7.2, Mozilla Firefox 1.0 or Safari 1.2.

If you choose not to have electronic delivery of eStatements, your account will be converted to an SENB Essential Checking account and Statement Savings account after three (3) monthly qualification cycles.

 

CDs

Certificates of Deposit (CDs) are ideal for those in search of the security of fixed rates and a variety of terms. Take advantage of:

  • Interest rates compounded quarterly
  • Terms ranging from 91 days to 5 years
  • FDIC insured funds – Up to the maximum allowed by law

 

Buddy/Boomers Savings Account

An excellent, low-cost account sure to make saving fun for your little one. With this savings option you’ll enjoy:

  • Competitive interest rates
  • No service charge for children 18 years of age and younger
  • Fun extras, such as a membership card, a stuffed Bear or Buffalo for kids 12 years old and younger, and more!
  • Only $5 deposit required to open this account

 

HSA

Health Savings Account

If you are an adult currently covered by a high deductible health plan, who is without additional primary coverage and not a claimed dependent, consider establishing an HSA.

The benefits:

  • Tax deductible contributions – The contributions you make to an HSA to pay for current and future medical costs are tax-free. In 2017, an individual can contribute up to $3,450 and a family can save up to $6,900. People age 55 and older are allowed to save an additional $1,000 annually, totaling a savings limit of $4,450 each year for an individual and $7,900 for a family.
  • Continued growth of funds tax-free – Any money not spent for designated health care expenses rolls over to the next year and continues to grow tax-free.
  • Help build savings to cover unplanned health care costs or even the out-of-pocket health care expenses you are likely to have in retirement.