Kasasa Disclosures

Kasasa Cash

Kasasa Cash – Truth In Savings Disclosure 

This disclosure contains the rules that govern your deposit account as of March 30, 2021.  Account Overview: 

Kasasa Cash: A free variable rate checking account with no minimum balance that rewards accountholders  with dividends and nationwide ATM withdrawal fee refunds when they meet minimum qualifications during  the account’s Monthly Qualification Cycle. 

Purpose and Expected Use of Account 

This account is intended to be the accountholder’s primary share draft account in which payroll transactions  and day-to-day spending activities including but not limited to grocery, gasoline, apparel, shopping, dining,  sporting and entertainment transactions are posted and settled. 

Commensurate with the spending activities identified above, we expect the account’s debit card to be used  frequently throughout each month and for transaction amounts to reflect a wide dollar range. Small debit card  transactions conducted on the same day at a single merchant and/or multiple transactions made during a  condensed time period particularly near the end of a Monthly Qualification Cycle are not considered normal,  day-to-day spending behavior. These types of transactions appear to be conducted with the sole purpose of  qualifying for the account’s rewards and thus will be deemed inappropriate transactions and will not count  toward earning the account’s rewards. 

Pasadena Service Federal Credit Union reserves the right to determine if the account is being maintained for a  purpose other than day-to-day, primary use. Accountholders who persist in making debit card transactions in  a calculated and limited fashion in order to meet their monthly qualifications may have their accounts  converted to a different share draft account or closed altogether. We also reserve the right to convert the  account to a different share draft account if the account does not have consistent active use over 6 (six) consecutive Statement Cycles. 

We have the right to close this account at any time, with proper notice. Our decision to close the account will  not affect your existing obligations to us including any obligation to pay fees or charges incurred prior to  termination. No deposits will be accepted and no checks will be paid after the account is closed. If the account  is closed, you will forfeit any rewards that have not been credited to your account.  

A Pasadena Service Federal Credit Union check for the remaining balance, if applicable, will be mailed to  accountholder at the address indicated on our current records. Upon termination of your Kasasa Cash  account, any optional add-on products / services associated with this account will also be terminated at the  same time. 

Dividend Rate & Annual Percentage Yield (APY) 

  • Compounding & Crediting: 

Dividends will be compounded on a daily basis. Dividends will be credited to your Kasasa Cash account on  the last day of the current statement cycle. If you close your account before the dividends are credited, you  will not receive the accrued dividends. Dividends begin(s) to accrue on the day you deposit noncash items  (for example, checks). 

“Statement Cycle” means the period of time for which Pasadena Service Federal Credit Union provides a  summary of the financial activities and transactions that post and settle to the accountholder’s account. 

  • Balance Computation Method: 

We use the average daily balance method to calculate the dividends on your Kasasa Cash account. This  method applies a periodic rate to the average daily balance in the account for the period. The average daily  balance is calculated by adding the principal in the account for each day of the period and dividing that  figure by the number of days in the period. The period we use is the Monthly Qualification Cycle. 

  • Dividend Rate & Annual Percentage Yield: 

When your Kasasa Cash account qualifications are met during a Monthly Qualification Cycle average daily  balances up to and including $10,000.00 in your Kasasa Cash account earn a dividend rate of 0.995% resulting in an APY of 1.00%; and average daily balances over $10,000.00 earn a dividend rate of 0.24971%  on the portion of the average daily balance over $10,000.00, resulting in a range from 1.00% to 0.25% APY  depending on the account’s average daily balance. 

When Kasasa Cash qualifications are not met, ATM withdrawal fees are not refunded and the dividend rate  earned on the entire average daily balance in the account will be 0.05% resulting in an APY of 0.05%; 

Qualification Information: 

To earn your rewards, the following enrollments must be in place and all transactions and activities must post  and settle to your Kasasa Cash account during each Monthly Qualification Cycle: 

  • At least 12 (twelve) PIN-based / signature-based debit card purchases, each $0.01 or more Be enrolled in and log into online or mobile banking (at least once in the Monthly Qualification Cycle)  Be enrolled in and have agreed to receive e-statements rather than paper statements 

For clarity, in order to count as a qualifying transaction for the purpose of earning the account’s rewards PIN based / signature-based debit card purchases must be at least $0.01. 

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. 

The following activities do not count toward earning account rewards: Transfers between accounts, non-retail  payment transactions and purchases made with debit cards not issued by our credit union. 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. 

“Monthly Qualification Cycle” means the last business day of the previous month to the day prior to the last  business day of the current month. (See 2021 Qualification Cycles)  

“Statement Cycle” means the period of time for which our credit union provides a summary of the financial  activities and transactions that post and settle to the accountholder’s account.

Reward Information: 

When your Kasasa Cash account qualifications are met during a Monthly Qualification Cycle, average daily  balances up to and including $10,000.00 in your Kasasa Cash account earn a dividend rate of 0.995% resulting  in an APY of 1.00%; and average daily balances over $10,000.00 earn a dividend rate of 0.24971% on the  portion of the average daily balance over $10,000.00, resulting in a range from 1.00% to 0.25% APY depending  on the account’s average daily balance. 

You will receive reimbursements up to an aggregate total of $25.00 for nationwide ATM withdrawal fees  incurred within your Kasasa Cash account during that Monthly Qualification Cycle. We reimburse ATM  withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM  withdrawal fee. If you have not received an appropriate reimbursement, we will adjust the reimbursement  amount if we receive the transaction receipt within sixty (60) calendar days of the withdrawal transaction. 

When your Kasasa Cash qualifications are not met, the dividend rate earned on the account’s entire average  daily balance will be 0.05% resulting in a non-compounding annual percentage yield of 0.05% and ATM  withdrawal fees are not refunded. 

Dividends will be credited to your Kasasa Cash account on the last day of the current statement cycle. 

Nationwide ATM withdrawal fee reimbursements will be credited to your account on the last day of the  current statement cycle. 

APY = Annual Percentage Yield. APY calculations are based on an assumed balance of $10,000.00 + $100,000 in  your Kasasa Cash account and an assumed statement cycle of thirty-one (31) days. Rates, rewards, and  bonuses, if any, are variable and may change after account is opened without notice to you. No minimum  balance is required to earn or receive the account’s rewards. Rewards less than a penny cannot be distributed.  Fees may reduce earnings. You will automatically qualify for the account’s rewards during your account’s first  Monthly Qualification Cycle. If the account is closed before rewards are credited, you will forfeit the rewards. 

Additional Information: 

Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements  apply. No minimum deposit is required to open the account. Monthly enrollment in online banking and e statements may be a condition of these account(s). Enrollment in electronic services (e.g. online banking, e statements) and log-ons may be required to meet some of the account’s qualifications. Limit of 1 account(s)  per Social Security Number. There are no recurring monthly maintenance charges or fees to open or close this  account. This account is not to be used for commercial purposes. If the account is closed, you will forfeit any  rewards that have not been credited to your account. Contact one of our credit union service representatives  for additional information, details, restrictions, reward calculations, processing limitations, cycle dates and  enrollment instructions.  

Federally insured by NCUA 

Kasasa and Kasasa Cash are trademarks of Kasasa, Ltd., registered in the U.S.A.

 

2021 Qualification Cycles

      Month                  Start Date                 End Date

       March                  2/26/2021                3/30/2021

         April                   3/31/2021                4/29/2021

         May                    4/30/2021                5/27/2021

         June                   5/28/2021                6/29/2021

          July                    6/30/2021                7/29/2021

      August                  7/30/2021                8/30/2021

September              8/31/2021                9/29/2021

    October                9/30/2021               10/28/2021

November              10/29/2021              11/29/2021

December              11/30/2021              12/29/2021

Kasasa Cash with Kasasa Saver

Kasasa Cash with Kasasa Saver – Truth In Savings Disclosure 

This disclosure contains the rules that govern your deposit account as of March 30, 2020. 

Account Overview: 

  • Kasasa Cash: A free variable rate checking account with no minimum balance that rewards accountholders  with dividends and nationwide ATM withdrawal fee refunds when they meet minimum qualifications  during the account’s Monthly Qualification Cycle. 
  • Kasasa Saver is a free, variable rate, deposit account with no minimum balance that rewards  accountholders with dividends when they meet the minimum qualifications associated with their linked  Kasasa Cash checking account during each Monthly Qualification Cycle. 

Purpose and Expected Use of Account 

This account is intended to be the accountholder’s primary share draft account in which payroll transactions  and day-to-day spending activities including but not limited to grocery, gasoline, apparel, shopping, dining,  sporting and entertainment transactions are posted and settled. 

Commensurate with the spending activities identified above, we expect the account’s debit card to be used  frequently throughout each month and for transaction amounts to reflect a wide dollar range. Small debit card  transactions conducted on the same day at a single merchant and/or multiple transactions made during a  condensed time period particularly near the end of a Monthly Qualification Cycle are not considered normal,  day-to-day spending behavior. These types of transactions appear to be conducted with the sole purpose of  qualifying for the account’s rewards and thus will be deemed inappropriate transactions and will not count  toward earning the account’s rewards. 

Pasadena Service Federal Credit Union reserves the right to determine if the account is being maintained for a  purpose other than day-to-day, primary use. Accountholders who persist in making debit card transactions in  a calculated and limited fashion in order to meet their monthly qualifications may have their accounts  converted to a different share draft account or closed altogether. We also reserve the right to convert the  account to a different share draft account if the account does not have consistent active use over 6 (six) consecutive Statement Cycles. 

We have the right to close this account at any time, with proper notice. Our decision to close the account will  not affect your existing obligations to us including any obligation to pay fees or charges incurred prior to  termination. No deposits will be accepted and no checks will be paid after the account is closed. If the account  is closed, you will forfeit any rewards that have not been credited to your account. A Pasadena Service Federal  Credit Union check for the remaining balance, if applicable, will be mailed to accountholder at the address  indicated on our current records. Upon termination of your Kasasa Cash with Kasasa Saver account, any  optional add-on products / services associated with this account will also be terminated at the same time. 

If, for whatever reason the Kasasa Saver portion of your account is closed, your account will automatically be  converted to a standalone Kasasa Cash account and only the Kasasa Cash terms and conditions articulated  within this disclosure will apply.

 

Dividend Rate & Annual Percentage Yield (APY) 

  • Compounding & Crediting: 

Dividends will be compounded on a daily basis. Dividends will be credited to your Kasasa Cash with Kasasa  Saver account on the last day of the current statement cycle. If you close your account before the dividends  are credited, you will not receive the accrued dividends. Dividends begin(s) to accrue on the day you  deposit noncash items (for example, checks). 

“Statement Cycle” means the period of time for which Pasadena Service Federal Credit Union provides a  summary of the financial activities and transactions that post and settle to the accountholder’s account. 

  • Balance Computation Method: 

We use the average daily balance method to calculate the dividends on your Kasasa Cash with Kasasa Saver  account. This method applies a periodic rate to the average daily balance in the account for the period. The  average daily balance is calculated by adding the principal in the account for each day of the period and  dividing that figure by the number of days in the period. The period we use is the Monthly Qualification  Cycle. 

  • Dividend Rate & Annual Percentage Yield: 

When your Kasasa Cash account qualifications are met during a Monthly Qualification Cycle: 

Kasasa Cash: average daily balances up to and including $10,000 in your Kasasa Cash account earn a  dividend rate of 0.995% resulting in a non-compounding APY* of 1.00%; and average daily balances over  $10,000 earn a dividend rate of 0.24971% on the portion of the average daily balance over $10,000,  resulting in a non-compounding range from 1.00% to 0.25% APY depending on the account’s average daily  balance. 

Kasasa Saver: average daily balances up to and including $15,000 in your Kasasa Saver account earn an APY  of 0.50% and average daily balances over $15,000 earn a dividend rate of 0.24971% on the portion of the  average daily balance over $15,000, resulting in a range from 0.50% to 0.25% APY depending on the  account’s average daily balance. 

When your Kasasa Cash account qualifications are not met during a Monthly Qualification Cycle: 

Kasasa Cash: ATM withdrawal fees are not refunded and the entire average daily balance in the account  earns an dividend rate of 0.05% resulting in a non-compounding annual percentage yield of 0.05%. 

Kasasa Saver: the entire average daily balance in the Kasasa Saver account earns an dividend rate of 0.05%  resulting in an annual percentage yield of 0.05%. 

* Interest in Kasasa Cash does not compound because it is automatically transferred to the Kasasa Saver  account within one day. Note: Automatic transfer may cause an overdraft to your Kasasa Cash account, if  the account’s balance is less than the transferred amount when transfer occurs. 

Qualification Information: 

To earn your rewards, the following enrollments must be in place and all transactions and activities must post and settle to your Kasasa Cash account during each Monthly Qualification Cycle: 

  • At least 12 (twelve) PIN-based / signature-based debit card purchases, each 0.01 or more Be enrolled in and log into online or mobile banking (at least once in the Monthly Qualification Cycle) Be enrolled in and have agreed to receive e-statements rather than paper statements 

For clarity, in order to count as a qualifying transaction for the purpose of earning the account’s rewards PIN based / signature-based debit card purchases must be at least $0.01. 

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. 

he following activities do not count toward earning account rewards: Transfers between accounts, non-retail  payment transactions and purchases made with debit cards not issued by our credit union. 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. 

“Monthly Qualification Cycle” means the last business day of the previous month to the day prior to the last  business day of the current month. (See 2021 Qualification Cycles) 

“Statement Cycle” means the period of time for which our credit union provides a summary of the financial  activities and transactions that post and settle to the accountholder’s account. 

Reward Information: 

When your Kasasa Cash account qualifications are met during a Monthly Qualification Cycle, average daily  balances up to and including $10,000 in your Kasasa Cash account earn a dividend rate of 0.995% resulting in a  non-compounding APY of 1.00%; and average daily balances over $10,000 earn a dividend rate of 0.24971%  on the portion of the average daily balance over $10,000, resulting in a non-compounding range from 1.00% to 0.25% APY depending on the account’s average daily balance. 

In addition, average daily balances up to and including $15,000 in your Kasasa Saver account earn a dividend  rate of 0.49885% resulting in an APY of 0.50%; and average daily balances over $15,000 earn a dividend rate of  0.24971% on the portion of the average daily balance over $15,000, resulting in a range from 0.50% to 0.25% APY depending on the Kasasa Saver account’s average daily balance. 

You will receive reimbursements up to an aggregate total of $25.00 for nationwide ATM withdrawal fees  incurred within your Kasasa Cash account during that Monthly Qualification Cycle. We reimburse ATM  withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM  withdrawal fee. If you have not received an appropriate reimbursement, we will adjust the reimbursement  amount if we receive the transaction receipt within sixty (60) calendar days of the withdrawal transaction. 

When your Kasasa Cash qualifications are not met, the dividend rate earned on the account’s entire average  daily balance will be 0.05% resulting in a non-compounding annual percentage yield of 0.05% and ATM  withdrawal fees are not refunded. In addition, the entire average daily balance in the Kasasa Saver account  earns a dividend rate of 0.05% resulting in an annual percentage yield of 0.05%.

Dividends will be credited to your Kasasa Cash and Kasasa Saver account on the last day of the current  statement cycle. 

Nationwide ATM withdrawal fee reimbursements will be credited to your account on the last day of the  current statement cycle. 

APY = Annual Percentage Yield. APY calculations are based on an assumed balance of $10,000 + $100,000 in  your Kasasa Cash account and 15,000 + $100,000 in your Kasasa Saver account and an assumed statement  cycle of thirty-one (31) days. Rates, rewards, and bonuses, if any, are variable and may change after account is  opened without notice to you. No minimum balance is required to earn or receive the account’s rewards.  Rewards less than a penny cannot be distributed. Fees may reduce earnings. You will automatically qualify for  the account’s rewards during your account’s first Monthly Qualification Cycle. If the account is closed before  rewards are credited, you will forfeit the rewards. 

Additional Information: 

Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements  apply. No minimum deposit is required to open the account. Monthly enrollment in online banking and e statements may be a condition of these accounts. Enrollment in electronic services (e.g. online banking, e statements) and log-ons may be required to meet some of the account’s qualifications. Limit of 1 account(s)  per Social Security Number. There are no recurring monthly maintenance charges or fees to open or close this  account. This account is not to be used for commercial purposes. If the account is closed, you will forfeit any  rewards that have not been credited to your account. A Kasasa Cash account is required to have a Kasasa  Saver account. If, for whatever reason the Kasasa Saver portion of your account is closed, your account will  automatically be converted to the associated standalone Kasasa Cash account and that account’s terms and  conditions articulated within their specific disclosure will apply. A linked Kasasa Saver account is required for  automatic savings. 

Account Limitations: If Kasasa Saver Is Established As A Savings Account: Transfers or withdrawals from a  Kasasa Saver account to (a) another account of the same depositor at our institution or to (b) a third party or  an account of the same depositor at another bank, if made by preauthorized transfer, automatic transfer,  telephone, fax or internet banking service and (c) transfers or withdrawals to a third party or to an account of  the depositor to another account at another bank made by check, draft, debit card are limited to an aggregate  total of six (6) per calendar month. There is no limit to the number of transfers or withdrawals from your  Kasasa Saver account to repay loans at our institution or are made in person, by mail, by messenger or at an  ATM. These transactions are considered made on the date the transaction posts and settles to your account, not the date the withdrawal request was initiated. 

Contact one of our credit union service representatives for additional information, details, restrictions, reward  calculations, processing limitations, cycle dates and enrollment instructions. 

Federally insured by NCUA 

Kasasa, Kasasa Cash and Kasasa Saver are trademarks of Kasasa, Ltd., registered in the U.S.A.

2021 Qualification Cycles

      Month                  Start Date                 End Date

       March                  2/26/2021                3/30/2021

         April                   3/31/2021                4/29/2021

         May                    4/30/2021                5/27/2021

         June                   5/28/2021                6/29/2021

          July                    6/30/2021                7/29/2021

      August                  7/30/2021                8/30/2021

September              8/31/2021                9/29/2021

    October                9/30/2021               10/28/2021

November              10/29/2021              11/29/2021

December              11/30/2021              12/29/2021

Kasasa Cash Back

Kasasa Cash Back – Truth In Savings Disclosure 

This disclosure contains the rules that govern your deposit account as of March 30, 2021. 

Account Overview: 

Kasasa Cash Back: A free variable reward checking account with no minimum balance that rewards accountholders with  cash back on their PIN-based / signature-based debit card purchases and nationwide ATM withdrawal fee refunds when  they meet minimum qualifications during the account’s Monthly Qualification Cycle. 

Purpose and Expected Use of Account 

This account is intended to be the accountholder’s primary share draft account in which payroll transactions and day-to day spending activities including but not limited to grocery, gasoline, apparel, shopping, dining, sporting and  entertainment transactions are posted and settled. 

Commensurate with the spending activities identified above, we expect the account’s debit card to be used frequently  throughout each month and for transaction amounts to reflect a wide dollar range. Small debit card transactions  conducted on the same day at a single merchant and/or multiple transactions made during a condensed time period  particularly near the end of a Monthly Qualification Cycle are not considered normal, day-to-day spending behavior.  These types of transactions appear to be conducted with the sole purpose of qualifying for the account’s rewards and  thus will be deemed inappropriate transactions and will not count toward earning the account’s rewards. 

Pasadena Service Federal Credit Union reserves the right to determine if the account is being maintained for a purpose  other than day-to-day, primary use. Accountholders who persist in making debit card transactions in a calculated and  limited fashion in order to meet their monthly qualifications may have their accounts converted to a different share  draft account or closed altogether. We also reserve the right to convert the account to a different share draft account if  the account does not have consistent active use over 6 (six) consecutive Statement Cycles. 

We have the right to close this account at any time, with proper notice. Our decision to close the account will not affect  your existing obligations to us including any obligation to pay fees or charges incurred prior to termination. No deposits  will be accepted and no checks will be paid after the account is closed. If the account is closed, you will forfeit any  rewards that have not been credited to your account. A Pasadena Service Federal Credit Union check for the remaining  balance, if applicable, will be mailed to accountholder at the address indicated on our current records. Upon termination  of your Kasasa Cash Back account, any optional add-on products / services associated with this account will also be  terminated at the same time. 

Qualification Information: 

To earn your rewards, the following enrollments must be in place and all transactions and activities must post and settle  to your Kasasa Cash Back account during each Monthly Qualification Cycle: 

  • At least 12 (twelve) PIN-based / signature-based debit card purchases 
  • Be enrolled in and log into online or mobile banking (at least once in the Monthly Qualification Cycle) Be enrolled in and have agreed to receive e-statements rather than paper statements 

For clarity, in order to count as a qualifying transaction for the purpose of earning the account’s rewards, PIN-based /  signature-based debit card purchases must be at least $0.01. 

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.

The following activities do not count toward earning account rewards: Transfers between accounts, non-retail payment  transactions and purchases made with debit cards not issued by our credit union. 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. 

“Monthly Qualification Cycle” means the last business day of the previous month to the day prior to the last  business day of the current month. (See 2021 Qualification Cycles) 

“Statement Cycle” means the period of time for which our credit union provides a summary of the financial activities  and transactions that post and settle to the accountholder’s account. 

Reward Information: 

When Kasasa Cash Back qualifications are met during a Monthly Qualification Cycle, you will receive 2.00% cash back on  up to a total of $300.00 PIN-based/signature-based debit card purchases that post and settle to the account during that  cycle period. A maximum of $6.00 cash back payments may be earned per Monthly Qualification Cycle. 

You will receive reimbursements up to an aggregate total of $25.00 for nationwide ATM withdrawal fees incurred within  your Kasasa Cash Back account during that Monthly Qualification Cycle. We reimburse ATM withdrawal fees based on  estimates when the withdrawal information we receive does not identify the ATM withdrawal fee. If you have not  received an appropriate reimbursement, we will adjust the reimbursement amount if we receive the transaction receipt  within sixty (60) calendar days of the withdrawal transaction. 

When your Kasasa Cash Back account qualifications are not met, no cash back payments are made and ATM withdrawal  fees are not refunded. 

Cash back payments and nationwide ATM withdrawal fee reimbursements will be credited to your Kasasa Cash Back  account on the last day of the current statement cycle. 

Rates, rewards, and bonuses, if any, are variable and may change after account is opened without notice to you. No  minimum balance is required to earn or receive the account’s rewards. Rewards less than a penny cannot be distributed.  You will automatically qualify for the account’s rewards during your account’s first Monthly Qualification Cycle. If the account is closed before rewards are credited, you will forfeit the rewards. 

Additional Information: 

Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements apply. No  minimum deposit is required to open the account. Monthly enrollment in online banking and e-statements may be conditions of this account. Enrollment in electronic services (e.g. online banking, e-statements) and log-ons may be  required to meet some of the account’s qualifications. Limit of 1 (one) account(s) per Social Security Number. There are  no recurring monthly maintenance charges or fees to open or close this account. This account is not to be used for  commercial purposes. If the account is closed, you will forfeit any rewards that have not been credited to your account.  Contact one of our credit union service representatives for additional information, details, restrictions, reward  calculations, processing limitations, cycle dates and enrollment instructions. 

Federally insured by NCUA 

Kasasa and Kasasa Cash Back are trademarks of Kasasa, Ltd., registered in the U.S.A.

2021 Qualification Cycles

      Month                  Start Date                 End Date

       March                  2/26/2021                3/30/2021

         April                   3/31/2021                4/29/2021

         May                    4/30/2021                5/27/2021

         June                   5/28/2021                6/29/2021

          July                    6/30/2021                7/29/2021

      August                  7/30/2021                8/30/2021

September              8/31/2021                9/29/2021

    October                9/30/2021               10/28/2021

November              10/29/2021              11/29/2021

December              11/30/2021              12/29/2021

Kasasa Cash Back with Kasasa Saver

Kasasa Cash Back with Kasasa Saver – Truth In Savings Disclosure 

This disclosure contains the rules that govern your deposit account as of March 30, 2021. 

Account Overview: 

  • Kasasa Cash Back: A free variable reward checking account with no minimum balance that rewards accountholders  with cash back on their PIN-based / signature-based debit card purchases and nationwide ATM withdrawal fee  refunds when they meet minimum qualifications during the account’s Monthly Qualification Cycle. 
  • Kasasa Saver is a free, variable rate, deposit account with no minimum balance that rewards accountholders with  dividends when they meet the minimum qualifications associated with their linked Kasasa Cash Back checking  account during each Monthly Qualification Cycle. 

Purpose and Expected Use of Account 

This account is intended to be the accountholder’s primary share draft account in which payroll transactions and day-to day spending activities including but not limited to grocery, gasoline, apparel, shopping, dining, sporting and  entertainment transactions are posted and settled. 

Commensurate with the spending activities identified above, we expect the account’s debit card to be used frequently  throughout each month and for transaction amounts to reflect a wide dollar range. Small debit card transactions  conducted on the same day at a single merchant and/or multiple transactions made during a condensed time period  particularly near the end of a Monthly Qualification Cycle are not considered normal, day-to-day spending behavior.  These types of transactions appear to be conducted with the sole purpose of qualifying for the account’s rewards and  thus will be deemed inappropriate transactions and will not count toward earning the account’s rewards. 

Pasadena Service Federal Credit Union reserves the right to determine if the account is being maintained for a purpose  other than day-to-day, primary use. Accountholders who persist in making debit card transactions in a calculated and  limited fashion in order to meet their monthly qualifications may have their accounts converted to a different share  draft account or closed altogether. We also reserve the right to convert the account to a different share draft account if  the account does not have consistent active use over 6 (six) consecutive Statement Cycles. 

We have the right to close this account at any time, with proper notice. Our decision to close the account will not affect  your existing obligations to us including any obligation to pay fees or charges incurred prior to termination. No deposits  will be accepted and no checks will be paid after the account is closed. If the account is closed, you will forfeit any  rewards that have not been credited to your account. A Pasadena Service Federal Credit Union check for the remaining  balance, if applicable, will be mailed to accountholder at the address indicated on our current records. Upon termination  of your Kasasa Cash Back with Kasasa Saver account, any optional add-on products / services associated with this  account will also be terminated at the same time. 

If, for whatever reason the Kasasa Saver portion of your account is closed, your account will automatically be converted  to a standalone Kasasa Cash Back account and only the Kasasa Cash Back terms and conditions articulated within this  disclosure will apply. 

Dividend Rate & Annual Percentage Yield (APY) 

Compounding & Crediting: 

Dividends will be compounded on a daily basis. Dividends will be credited to your Kasasa Saver account on the last day  of the current statement cycle. If you close your account before the dividends are credited, you will not receive the  accrued dividends. Dividends begin(s) to accrue on the day you deposit noncash items (for example, checks). 

“Statement Cycle” means the period of time for which Pasadena Service Federal Credit Union provides a summary of  the financial activities and transactions that post and settle to the accountholder’s account.

  • Balance Computation Method: 

We use the average daily balance method to calculate the dividends on your Kasasa Saver account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the Monthly Qualification Cycle. 

  • Dividend Rate & Annual Percentage Yield: 

When your Kasasa Cash Back account qualifications are met during a Monthly Qualification Cycle: 

Kasasa Saver: average daily balances up to and including $15,000.00 in your Kasasa Saver account earn a dividend rate of 0.49885% resulting in an APY of 0.5%; and average daily balances over $15,000.00 earn a dividend rate of 0.24971% on the portion of the average daily balance over $15,000.00, resulting in a range from 0.50% to 0.25% APY depending on the account’s average daily balance. 

When your Kasasa Cash Back account qualifications are not met during a Monthly Qualification Cycle: 

Kasasa Saver: the entire average daily balance in the Kasasa Saver account earns a dividend rate of 0.05% resulting in an annual percentage yield of 0.05% APY. 

Qualification Information: 

To earn your rewards, the following enrollments must be in place and all transactions and activities must post and settle  to your Kasasa Cash Back account during each Monthly Qualification Cycle: 

  • At least 12 (twelve) PIN-based / signature-based debit card purchases, each $0.01 or more Be enrolled in and log into online or mobile banking (at least once in the Monthly Qualification Cycle) Be enrolled in and have agreed to receive e-statements rather than paper statements 

For clarity, in order to count as a qualifying transaction for the purpose of earning the account’s rewards PIN-based /  signature-based debit card purchases must be at least $0.01.  

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. 

The following activities do not count toward earning account rewards: Transfers between accounts, non-retail payment transactions and purchases made with debit cards not issued by our credit union. 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. 

“Monthly Qualification Cycle” means the last business day of the previous month to the day prior to the last business day of the current month. (See 2021 Qualification Cycles)  

“Statement Cycle” means the period of time for which our credit union provides a summary of the financial activities and transactions that post and settle to the accountholder’s account.

Reward Information: 

When Kasasa Cash Back qualifications are met during a Monthly Qualification Cycle, you will receive 2% cash back on up  to a total of $300.00 PIN-based/signature-based debit card purchases that post and settle to the account during that  cycle period. A maximum of $6.00 cash back payments may be earned per Monthly Qualification Cycle. 

In addition, average daily balances up to and including $15,000.00 in your Kasasa Saver account earn a dividend rate of  0.49885% resulting in an APY of 0.5; and average daily balances over $15,000.00 earn a dividend rate of 0.24971% on  the portion of the average daily balance over $15,000.00, resulting in a range from 0.50% to 0.25% APY depending on  the account’s average daily balance. 

You will receive reimbursements up to an aggregate total of $25.00 for nationwide ATM withdrawal fees incurred within  your Kasasa Cash Back account during that Monthly Qualification Cycle. We reimburse ATM withdrawal fees based on  estimates when the withdrawal information we receive does not identify the ATM withdrawal fee. If you have not  received an appropriate reimbursement, we will adjust the reimbursement amount if we receive the transaction receipt  within sixty (60) calendar days of the withdrawal transaction. 

When your Kasasa Cash Back account qualifications are not met, no cash back payments are made and ATM withdrawal  fees are not refunded. In addition, the entire average daily balance in the Kasasa Saver account earns a dividend rate of  0.05% resulting in an annual percentage yield of 0.05% APY. 

Dividends will be credited to your Kasasa Saver account on the last day of the current statement cycle. 

The cash back payments and nationwide ATM withdrawal fee reimbursements earned in your Kasasa Cash Back account  will be credited to your Kasasa Saver account on the last day of the current statement cycle. 

APY = Annual Percentage Yield. APY calculations are based on an assumed balance of 15,000.00 + $100,000 in your  Kasasa Saver account and an assumed statement cycle of thirty-one (31) days. Rates, rewards, and bonuses, if any, are  variable and may change after account is opened without notice to you. No minimum balance is required to earn or  receive the account’s rewards. Rewards less than a penny cannot be distributed. Fees may reduce earnings. You will  automatically qualify for the account’s rewards during your account’s first Monthly Qualification Cycle. If the account is closed before rewards are credited, you will forfeit the rewards. 

Additional Information: 

Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements apply. No  minimum deposit is required to open the account. Monthly enrollment in online banking, e-statements may be a  condition(s)] of these accounts. Enrollment in electronic services (e.g. online banking, e-statements) and log-ons may be  required to meet some of the account’s qualifications. Limit of 1 account per Social Security Number. There are no  recurring monthly maintenance charges or fees to open or close this account. This account is not to be used for  commercial purposes. If the account is closed, you will forfeit any rewards that have not been credited to your account.  A Kasasa Cash Back account is required to have a Kasasa Saver account. If, for whatever reason the Kasasa Saver portion  of your account is closed, your account will automatically be converted to the associated standalone Kasasa Cash Back  account and that account’s terms and conditions articulated within their specific disclosure will apply. A linked Kasasa  Saver account is required for automatic savings.

Account Limitations: If Kasasa Saver Is Established As A Savings Account: Transfers or withdrawals from a Kasasa Saver  account to (a) another account of the same depositor at our institution or to (b) a third party or an account of the same  depositor at another bank, if made by preauthorized transfer, automatic transfer, telephone, fax or internet banking  service and (c) transfers or withdrawals to a third party or to an account of the depositor to another account at another  bank made by check, draft, debit card are limited to an aggregate total of six (6) per calendar month. There is no limit to  the number of transfers or withdrawals from your Kasasa Saver account to repay loans at our institution or are made in  person, by mail, by messenger or at an ATM. These transactions are considered made on the date the transaction posts  and settles to your account, not the date the withdrawal request was initiated. 

Contact one of our credit union service representatives for additional information, details, restrictions, reward  calculations, processing limitations, cycle dates and enrollment instructions. 

Federally insured by NCUA 

Kasasa, Kasasa Cash Back and Kasasa Saver are trademarks of Kasasa, Ltd., registered in the U.S.A.

2021 Qualification Cycles

      Month                  Start Date                 End Date

       March                  2/26/2021                3/30/2021

         April                   3/31/2021                4/29/2021

         May                    4/30/2021                5/27/2021

         June                   5/28/2021                6/29/2021

          July                    6/30/2021                7/29/2021

      August                  7/30/2021                8/30/2021

September              8/31/2021                9/29/2021

    October                9/30/2021               10/28/2021

November              10/29/2021              11/29/2021

December              11/30/2021              12/29/2021

Kasasa Tunes

Kasasa Tunes – Truth In Savings Disclosure 

This disclosure contains the rules that govern your deposit account as of March 30, 2021 Bonus Information: 

As a bonus to individuals who open and fund a new Kasasa Tunes account, our credit union will refund up to  an aggregate total of $20.00 (which includes any applicable taxes) for any iTunes, Amazon.com or Google Play  purchases made with your Kasasa Tunes debit card that post and settle to the account within the first 30 calendar days after your account is opened. This refund will be credited to your account on the last day of the  current statement cycle in which your aggregate iTunes, Amazon.com, Google Play purchase threshold of  $20.00 posts and settles to your account. 

Any portion of this bonus that is not used within the stated time period will be forfeited. No minimum balance  is required to obtain this bonus. Limit 1 account per Social Security Number and one account opening bonus  per account per calendar year. Account opening bonus will not be paid if accountholder switches into a Kasasa  Tunes account from another account that offered an account opening incentive to open the initial account. 

Account Overview: 

Kasasa Tunes: A free variable reward checking account with no minimum balance that rewards accountholders  with reimbursements on iTunes, Amazon.com and Google Play purchases as well as nationwide ATM  withdrawal fee refunds when they meet minimum qualifications during the account’s Monthly Qualification  Cycle. 

Purpose and Expected Use of Account 

This account is intended to be the accountholder’s primary share draft account in which payroll transactions  and day-to-day spending activities including but not limited to grocery, gasoline, apparel, shopping, dining,  sporting and entertainment transactions are posted and settled. 

Commensurate with the spending activities identified above, we expect the account’s debit card to be used  frequently throughout each month and for transaction amounts to reflect a wide dollar range. Small debit card  transactions conducted on the same day at a single merchant and/or multiple transactions made during a  condensed time period particularly near the end of a Monthly Qualification Cycle are not considered normal,  day-to-day spending behavior. These types of transactions appear to be conducted with the sole purpose of  qualifying for the account’s rewards and thus will be deemed inappropriate transactions and will not count  toward earning the account’s rewards. 

Pasadena Service Federal Credit Union reserves the right to determine if the account is being maintained for a  purpose other than day-to-day, primary use. Accountholders who persist in making debit card transactions in  a calculated and limited fashion in order to meet their monthly qualifications may have their accounts  converted to a different share draft account or closed altogether. We also reserve the right to convert the  account to a different share draft account if the account does not have consistent active use over 6 (six) consecutive Statement Cycles.

We have the right to close this account at any time, with proper notice. Our decision to close the account will  not affect your existing obligations to us including any obligation to pay fees or charges incurred prior to  termination. No deposits will be accepted and no checks will be paid after the account is closed. If the account  is closed, you will forfeit any rewards that have not been credited to your account. A Pasadena Service Federal  Credit Union check for the remaining balance, if applicable, will be mailed to accountholder at the address  indicated on our current records. Upon termination of your Kasasa Tunes account, any optional add-on  products / services associated with this account will also be terminated at the same time. 

Qualification Information: 

To earn your rewards, the following enrollments must be in place and all transactions and activities must post  and settle to your Kasasa Tunes account during each Monthly Qualification Cycle: 

  • At least 12 (twelve) PIN-based / signature-based debit card purchases, each $0.01 or more Be enrolled in and log into online or mobile banking (at least once in the Monthly Qualification Cycle) Be enrolled in and have agreed to receive e-statements rather than paper statements 

For clarity, in order to count as a qualifying transaction for the purpose of earning the account’s rewards  PIN-based / signature-based debit card purchases must be at least $0.01.  

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. 

The following activities do not count toward earning account rewards: Transfers between accounts, non-retail  payment transactions and purchases made with debit cards not issued by our credit union. 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. 

“Monthly Qualification Cycle” means the last business day of the previous month to the day prior to the last  business day of the current month. (See 2021 Qualification Cycles)  

“Statement Cycle” means the period of time for which our credit union provides a summary of the financial activities and transactions that post and settle to the accountholder’s account. 

Reward Information: 

When your Kasasa Tunes account qualifications are met during a Monthly Qualification Cycle, you will receive up to an aggregate total of $10.00 (which includes any applicable taxes) in refunds for any iTunes, Amazon.com or Google Play purchases. In order to be refunded, iTunes, Amazon.com, Google Play purchases must be made with your Kasasa Tunes debit card and must post and settle to your account no more than 30 days after the Monthly Qualification Cycle in which you qualified ends. 

You will receive reimbursements up to an aggregate total of $25.00 for nationwide ATM withdrawal fees incurred within your Kasasa Tunes account during that Monthly Qualification Cycle. We reimburse ATM withdrawal fees based on estimates when the withdrawal information we receive does not identify the ATM  withdrawal fee. If you have not received an appropriate reimbursement, we will adjust the reimbursement amount if we receive the transaction receipt within sixty (60) calendar days of the withdrawal transaction.

When your Kasasa Tunes account qualifications are not met, iTunes, Amazon.com and Google Play purchases  and ATM withdrawal fees are not refunded. 

iTunes, Amazon.com and Google Play purchase reimbursements and nationwide ATM withdrawal fee  reimbursements will be credited to your Kasasa Tunes account on the last day of the current statement cycle. 

Rates, rewards, and bonuses, if any, are variable and may change after account is opened without notice to  you. No minimum balance is required to earn or receive the account’s rewards. Rewards less than a penny  cannot be distributed. You will automatically qualify for the account’s rewards during your account’s first  statement cycle. If the account is closed before rewards are credited, you will forfeit the rewards. 

Reward Administration: 

iTunes, Amazon.com and Google Play purchases are refunded via a “grant” and “credit” process. On the last  day of each Statement Cycle in which you qualify, we establish a refund “grant” of up to and including $10.00 for your account. Each “grant” is valid for up to and including 30 calendar days. All iTunes, Amazon.com and  Google Play refunds are “credited” against your account’s oldest active “grant”. If the account is closed, you  

will forfeit any refund grants that have not been credited to your account. Rates and rewards are variable and  at our discretion may change after account is opened without notice to you. Fees may reduce earnings. No  minimum balance is required to earn or to receive the account’s rewards. Rewards less than a penny cannot  be distributed. 

Additional Information: 

Account approval, conditions, qualifications, limits, timeframes, enrollments, log-ons and other requirements  apply. No minimum deposit is required to open the account. Monthly enrollment in online banking and e statements may be a condition of this account. Enrollment in electronic services (e.g. online banking, e statements) and log-ons may be required to meet some of the account’s qualifications. Limit of 1 account per  Social Security Number. There are no recurring monthly maintenance charges or fees to open or close this  account. This account is not to be used for commercial purposes. If the account is closed, you will forfeit any  rewards that have not been credited to your account. Contact one of our credit union service representatives  for additional information, details, restrictions, reward calculations, processing limitations, cycle dates and  enrollment instructions. 

Federally insured by NCUA 

iTunes is a registered trademark of Apple, Inc. 

Amazon.com is a registered trademark of Amazon.com.  

Google Play is a registered trademark of Google, Inc. 

Apple Inc., Amazon.com and Google, Inc. are not participants in or sponsors of this program.  Kasasa and Kasasa Tunes are trademarks of Kasasa, Ltd., registered in the U.S.A.

 

2021 Qualification Cycles

      Month                  Start Date                 End Date

       March                  2/26/2021                3/30/2021

         April                   3/31/2021                4/29/2021

         May                    4/30/2021                5/27/2021

         June                   5/28/2021                6/29/2021

          July                    6/30/2021                7/29/2021

      August                  7/30/2021                8/30/2021

September              8/31/2021                9/29/2021

    October                9/30/2021               10/28/2021

November              10/29/2021              11/29/2021

December              11/30/2021              12/29/2021

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