LINO LAKES, MN, March 13, 2010
/24-7PressRelease/ -- SMW Federal Credit Union asks consumers, "Do you Kasasa?" as it becomes the first financial institution in Minnesota to launch the country's most innovative bank accounts. Kasasa is a new brand of free checking and savings accounts that pays consumers to use their account with what interests them most—high interest, automatic savings, money donated to charity or free iTunes 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.
"Consumers deserve to wake up to happier days of banking and leave behind the nightmare of mega bank fees and mistreatment," said Steven Hauser, President and CEO at SMW Federal Credit Union. "Kasasa delivers what research shows people really want but believe they can't have—great banking products with the personal service of a community financial institution."
SMW FCU is offering three Kasasa banking products, including Kasasa Cash , Kasasa Tunes and Kasasa Giving . All Kasasa products are free accounts, with no minimum balance, no monthly fees, free online banking and nationwide ATM fee refunds.
• Kasasa Cash - A free checking account that pays high interest in cash every month.
• Kasasa Tunes - A checking account that gives accountholders free iTunes downloads every month.
• Kasasa Giving - A checking account that directs the high interest earned each month to the charity chosen by the accountholder. Plus, every time the accountholder makes a debit card purchase over a certain amount, an additional contribution will be made to a local charity. Consumers can choose to direct their contributions to a national charity, including American Humane Association, Boys & Girls Clubs of America and Stand Up to Cancer or a local charity.
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, SMW FCU will alert the individual, who will be eligible the following month for the benefits.
"Extensive research has shown us that consumers would prefer to bank with community financial institutions, but feel they would lose access to products," continued Hauser. "Kasasa is opening people's eyes to a new banking model where no sacrifices are necessary. It's a win-win because consumers get innovative products and personalized service."
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 Minnesota. It comes to life through a fresh mix of eye-popping advertising, the likes of which exceed the typical mega bank's high-budget programs. The ads feature America's top slam poets https://www.kasasa.com/news-and-media/advertising riffing lyrical threads around the theme of "Do you Kasasa?"
Kasasa is distributed to SMW 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 SMW FCU or visit https://www.kasasa.com/kasasa-providers.
Do you Kasasa?
Kasasa 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 iTunes downloads. Kasasa, developed and distributed by BancVue, marries innovative banking products with the personal touch of community financial institutions. For more information, visit https://www.kasasa.com.
Contact:
Erin Hoffman
303.433.7020
ehoffman@csg-pr.com
CSG|PR
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