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The Huffington Post noted that 27 percent of people don’t have enough savings to cover basic living expenses for just three months if they suffer a financial setback – many of those people couldn’t even cover a $100 emergency if it came up tomorrow.

At Caro, the entry to membership is establishing a basic savings account, for two reasons. We ask that you deposit a minimum of $25 in your savings account and keep it there because:

  1. This is your share of ownership in the credit union. Unlike being a customer of a bank, at Caro you are a member-owner. Each member owns an equal share of the credit union. What happens to your $25 if you choose to leave the credit union? If your account is in good standing with us, that $25 in your share savings account will be returned to you
  2. We want to encourage smart financial habits. We hope that by establishing this basic savings account, you’ll find other opportunities to deposit a little here and there to start saving for a rainy day.

Oh yeah. There’s one more difference between being a customer at a for-profit bank, and a member-owner at a not-for-profit financial cooperative like Caro: we pay dividends on most savings accounts. That means you’re making money just by saving money!

Kasasa Saver

Build savings automatically while earning a high rate of return.


  • No minimum balance to earn rewards
  • Automatic transfers of Kasasa Cash or Kasasa Cash Back earnings
  • No monthly maintenance fee
  • $25 minimum deposit to open


  • Builds your savings effortlessly  with a free account
  • 4.00% APY* on balances up to and including $100,000
  • 4.00% to 2.08% APY on balances over $25,000 depending on balance in account*
  • 0.02% APY* on all balances if qualifications are not met in Kasasa Cash or Kasasa Cash Back
  • Free online banking
  • Free e-statements
  • Free mobile banking

Qualifications for the rewards:

  • Be enrolled in and log into online banking
  • At least 12 debit card purchases
  • Be enrolled in and agree to receive e-statements

*APY=Annual Percentage Yield. See credit union for details. Federally insured by NCUA..


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