ELGA Kasasa Cash Checking Review: Earn 6.17% APY on Up to $15K

The Kasasa Cash® checking account from ELGA Credit Union is one of the highest-earning checking accounts available today—offering a whopping 6.17% APY on balances up to $15,000, plus up to $20 in ATM fee reimbursements every month.

The catch? You’ll need to hit 15 debit or credit card purchases of $5+, enroll in eStatements, and have at least one ACH or direct deposit post every month to qualify.

How It Works

Here’s what you need to do every month to earn the 6.17% APY:

• Make 15 debit or credit card purchases of $5 or more (they must post and settle)
• Enroll in eStatements
• Receive at least one ACH credit or direct deposit

If you meet these requirements, you’ll earn:

• 6.17% APY on balances up to $15,000
• 0.25% APY on balances over $15,000
• 0.01% APY if you don’t meet the monthly requirements

You’ll also get up to $20 in ATM fee refunds each month when you qualify.

How Much Can You Earn?

If you consistently meet the monthly requirements and keep $15,000 in the account, you can earn:

• $925.50 per year in interest
• Plus up to $240 in ATM fee refunds

That’s a total potential value of over $1,165 annually, making it one of the highest-earning checking accounts in the country.

⚠️ Important note: You’ll only earn the high rate on the first $15,000. Anything above that earns just 0.25%.

Pros & Cons

The Pros

• Very high APY (6.17% on $15K)
• Nationwide ATM fee refunds up to $20/month
• No monthly fees or minimum balance
• Credit card purchases count toward the 15-transaction requirement

The Cons

• 15 transactions must be $5+ (smaller swipes don’t count)
• If you miss a month, your rate drops to 0.01%
• High APY is capped at $15K in deposits
• Membership is geographically limited (mostly for Michigan residents)

Who is ELGA Credit Union?

ELGA is a Michigan-based credit union with roots dating back to 1951. It originally served employees of General Motors’ AC Spark Plug division, and has since expanded membership to include many communities throughout Michigan. You can join if you live, work, worship, or attend school in one of their eligible counties—or if you qualify through a related organization.

Check out ELGA CU.

Who This Account Is Good For

• You consistently use your debit or credit card for 15+ purchases each month
• You keep $15K or less in checking and want to maximize earnings
• You’re eligible to join ELGA CU (or live in Michigan)
• You don’t mind setting up a direct deposit and eStatements

If that sounds like you, this account can absolutely outperform your savings account.

Final Verdict

The ELGA Kasasa Cash® checking account offers eye-popping earnings—but you’ll have to work for them. If you’re organized and can reliably meet the transaction requirements each month, this is one of the highest-yield checking accounts in the country.

Just don’t park more than $15K here—better to pair it with ELGA’s Kasasa Saver, or move your extra funds into a high-yield savings account elsewhere.

Earn more, swipe smart.

Looking To Open An Account?

You can open a ELGA account through Debbie! When you sign up via the Debbie app, you’ll unlock bonus rewards just for opening the account and hitting milestones like saving money or paying down debt. Get started by downloading the Debbie app and earn your first $5!

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Advertiser Disclosure: Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how they appear on a page. However, our opinions are our own. Here’s a list of our partners.

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