Frequently Asked Questions

A federal credit union is a member-owned financial cooperative that provides traditional banking services such as savings, loans, and other financial products to its members. It is regulated and supervised by the National Credit Union Administration (NCUA), a federal agency.

Joining a federal credit union offers several benefits, including lower fees, competitive interest rates on loans and savings accounts, personalized customer service, and a focus on member satisfaction. Additionally, federal credit unions often provide access to a wide range of financial products and services, as well as opportunities to build a strong sense of community and financial literacy through educational programs and resources.

Cosden FCU offers savings accounts, savings certificates, money market accounts, club accounts, and IRAs.

The Free Kasasa Cash Back® Checking account provides members with a rewarding banking experience, offering 6.00% cash back on debit card purchases without category restrictions, allowing for cash back on up to $200 in monthly purchases. Additionally, accountholders can benefit from nationwide refunds on ATM withdrawal fees (up to $25 monthly). The account requires no minimum balance and has no monthly maintenance fees, making it accessible to members and includes free online banking, bill pay, e-statements, mobile banking, and a Visa® debit card. Linking to a free Kasasa Saver® account enables automatic savings accumulation. With its attractive rewards and convenience, this account offers a compelling way to earn cash back and build savings effortlessly.

The Free Kasasa Cash® Checking account offers high dividend earnings and refunds on ATM withdrawal fees to account holders. Key benefits include earning 6.00% APY on balances up to $10,000 and 0.50% to 1.00% APY on balances over $10,000, with a minimum APY of 0.05% on all balances if qualifications are not met. Accountholders can also receive refunds on ATM withdrawal fees nationwide (up to $25 monthly) and have the option to link to a free Kasasa Saver® to automate savings. Other advantages include no minimum balance requirement to earn rewards, no monthly maintenance fee, free online banking with bill pay, free e-statements, free mobile banking, a free Visa® debit card, and the ability to open the account with a $25 minimum deposit. This account offers a rewarding and convenient banking experience with the potential for high dividend earnings and ATM fee refunds.

The Free Kasasa Saver account differs from traditional savings accounts in multiple ways. It does not require a minimum balance to earn rewards or receive benefits, it pays 2.00% APY up to $50,000, and must be linked to a Kasasa Cash or Kasasa Cash Back checking account to qualify for the highest interest rate by meeting specific requirements. There are no monthly maintenance fees or minimum balance requirements for a Kasasa Saver account, and rewards from a linked Kasasa checking account can be automatically transferred. Additionally, Kasasa Saver accounts typically provide free digital banking services for added convenience.

A savings certificate, often referred to as a "certificate of deposit" (CD), is a savings account in which you deposit a set sum of money for a predetermined period (term) and receive a guaranteed fixed interest rate in exchange. Essentially, by investing in a CD, you are providing the bank with a loan for a specified duration, and they compensate you with interest for the opportunity to utilize your funds. However, the drawback is that accessing your money before the maturity date usually incurs a penalty.

• High yield plus total liquidity
• Our popular Money Market Accounts earn interest based on your balance. Your funds are liquid so you can withdraw them at anytime without penalties. The more you invest the higher interest rate you earn!
• No more than three withdrawals per quarter
• Funds can be moved to a higher yielding account when rates begin to rise
• Dividends compounded monthly and paid on the last day of each month
• 24 hour account access through online banking
• All funds are federally insured up to $250,000 by the NCUA

Don't delay your savings. Open your high yield money market account today!

Club accounts are designed to help you save money for bigger expenses, like holidays, vacations or other special events. A fixed-term savings account allows you to deposit money for a specific duration, usually one year, while earning interest. By starting the account with a designated sum and setting a savings target, you can calculate the number of payments needed to reach your future goal.

Cosden Federal Credit Union offers Traditional and Roth IRAs.

To ensure you avoid the inconvenience of overdrafts, Cosden Federal Credit Union provides overdraft protection for checking accounts. This service operates by transferring the necessary funds to cover items attempting to clear in your checking account. You can utilize your savings account without incurring any fees, or you can choose to enroll in our overdraft protection plan.

The National Credit Union Share Insurance Fund was created by Congress in 1970 to insure members' deposits in federally insured credit unions. Each credit union member has at least $250,000 in total coverage. Administered by the NCUA, the Share Insurance Fund insures individual accounts up to $250,000. Additionally, a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund also separately protects members’ IRA and KEOGH retirement accounts up to $250,000 and provides additional coverage for members’ trust accounts. The Share Insurance Fund has the backing of the full faith and credit of the United States. Credit union members have never lost even a penny of insured savings at a federally insured credit union.

Visit our “Loan Rates” tab to see our current rates.

We provide the Texas Extra Credit Education Loan in collaboration with our partner, Higher Education Servicing Corp., to assist Texas residents in funding their college education. The Texas Extra Credit program offers a private student loan solution tailored to bridge the gap when scholarships, grants, and federal aid do not suffice to meet the total cost of attendance.

TruStage provides a wide array of insurance solutions for both individuals and businesses. These offerings encompass various types of insurance such as life insurance, Accidental Death & Dismemberment (AD&D) insurance, coverage for cancer, heart attack, and stroke, as well as auto and home insurance and more.

Consumer Credit Cards - Choosing the right credit card is easier than ever. Whether you want to pay down balances faster, maximize cash back, earn rewards or begin building your credit history, we have the ideal card for you!

No matter which card you choose, you'll enjoy important features like:

• Convenient and Flexible Purchasing Power. Accepted at millions of locations worldwide.
• Mobile purchasing capability for added convenience.
• Zero Fraud Liability.* You won't be liable for fraudulent purchases when your card is lost or stolen.
• Cardmember Service available 24 hours a day/365 days per year.
• Plus much more!

Business Credit Cards - Choose from our popular business credit card options such as low rate, cash back or flexible rewards to find the one that works best for your business.

No matter which card you choose, your business will benefit from important features like:

• Free online expense reporting tools.
• No fee for additional employee card.
• Mobile purchasing capability for added convenience.
• Zero Fraud Liability.* You won't be liable for fraudulent purchases when your card is lost or stolen.
• Cardmember Service available 24 hours a day/365 days per year.

ATM fees are refundable with the Kasasa Cash and Kasasa Cash Back accounts up to $25.

Please visit our page with How-To Videos to learn more about our mobile banking app.

Yes, we offer instant issue debit cards! With this convenient service, you can walk into our branch and leave with a debit card in hand, ready to use for all your financial needs.