Kasasaâ„˘ Changes The Face Of Local Banking
Jackson, MS (March 10, 2010)â€' Magnolia Federal Credit Union asks consumers, â€śDo you Kasasa?â€ť as it becomes one of the first financial institutions in Mississippi to launch the countryâ€™s most innovative bank accounts. Kasasaâ„˘ is a new brand of free checking and savings accounts that pays consumers to use their account with what interests them mostâ€'high interest, automatic savings, money donated to charity or free iTunesÂ® downloads. These accounts, combined with the personal service that only community financial institutions can deliver, are offering residents a better banking option than the mega bank experience.
â€śConsumers deserve to wake up to happier days of banking and leave behind the nightmare of mega bank fees and mistreatment,â€ť said Steve Pollman, CEO of Magnolia Federal Credit Union. â€śKasasa delivers what research shows people really want but believe they canâ€™t haveâ€'great banking products with the personal service of a community financial institution.â€ť
Magnolia FCU is offering two Kasasa banking products, including Kasasa Cashâ„˘ and Kasasa Saverâ„˘. All Kasasa products are free accounts, with no minimum balance, no monthly fees, free online banking and nationwide ATM fee refunds.
â€˘ Kasasa Cash - A free checking account that pays high interest in cash every month.
â€˘ Kasasa Saver - A high interest saver account linked to a Kasasa Cash checking account. The interest and ATM fee refunds earned in the Kasasa Cash account are automatically deposited into the Kasasa Saver account when you qualify. The balance in the Kasasa Saver account also earns a high rate of interest.
To receive the Kasasa account benefits, accountholders need to meet easy monthly qualifications, including receiving an e-Statement, using a debit card and making an electronic transaction. If an accountholder does not meet the qualifications in a given month, Magnolia FCU will alert the individual, who will be eligible the following month for the benefits.
â€śExtensive research has shown us that consumers would prefer to bank with community financial institutions, but feel they would lose access to products,â€ť continued Pollman. â€śKasasa is opening peopleâ€™s eyes to a new banking model where no sacrifices are necessary. Itâ€™s a win-win because consumers get innovative products and personalized service.â€ť
In 2009, Kasasa was piloted in six other markets across the U.S. In just the first two months of offering Kasasa, participating community financial institutions reported growth rates upwards of 150% on new account openings and 372% in deposits at institutions focused on deposit growth.
Kasasa is being introduced with an aggressive, highly engaging marketing campaign in Mississippi. It comes to life through a fresh mix of eye-popping advertising, the likes of which exceed the typical mega bankâ€™s high-budget programs. The ads feature Americaâ€™s top slam poets http://https:/ / www.kasasa.com/ news-and-media/ advertising riffing lyrical threads around the theme of â€śDo you Kasasa?â€ť
Kasasa is distributed to Magnolia Federal Credit Union from BancVue, the leading provider of innovative products, dynamic marketing, and data-driven consulting solutions to community financial institutions nationwide to help them win the war against the mega banks.
For more information on Kasasa accounts, consumers can visit the branches of Magnolia FCU or visit http://https:/ / www.kasasa.com/ kasasa-providers.
Do you Kasasa?
Kasasaâ„˘ is the first national brand of the most innovative checking accounts available today. The accounts, offered exclusively by the finest community financial institutions, are designed to be the first and only accounts that actually take an interest in their accountholders by paying them to use their account with what interests them most - high interest, automatic savings, money donated to charity or free iTunesÂ® downloads. Kasasa, developed and distributed by BancVue, marries innovative banking products with the personal touch of community financial institutions. For more information, visit http://https:/ / www.kasasa.com.
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: : Kasasaâ„˘ Changes The Face Of Local Banking
Date Listed : Wednesday, March 10, 2010
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