Mid-Wisconsin Bank Introduces Kasasa, a Striking Alternative to the Mega Bank Rollercoaster
Online PR News – 05-February-2011 – – Medford, WI (February 4, 2011)—Mid-Wisconsin Bank asks consumers, “Do you Kasasa?” as it becomes the first financial institution in Wisconsin to launch the country’s most innovative financial products.
Kasasa® is a new brand of free checking and savings accounts that pays consumers to use their account with what interests them the most—cash back, automatic savings, or digital downloads from iTunes® or Amazon.com. These accounts, combined with the personal service that only community financial institutions can deliver, are offering consumers a better checking account 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. We are pleased to be the first financial institution in Wisconsin to offer these unique products,” said Jim Warsaw, President and CEO at Mid-Wisconsin Bank. “Kasasa delivers what research shows people really want but believe they can’t have—great financial products with the personal service of a community based financial institution.”
Mid-Wisconsin Bank is initially offering three Kasasa financial products, including Kasasa Cash Back™, Kasasa Saver™ and Kasasa Tunes™. All Kasasa products are free accounts, with no monthly fees, free online banking, nationwide ATM fee refunds, and no minimum balance is required to get the rewards.
• Kasasa Cash Back - A free checking account that rewards account holders with major cash back on everyday debit card purchases, without points or category restrictions like the big banks. The cash back amount is based on how much is spent on each debit card transaction as well as the average daily balance.
• Kasasa Saver - A high-interest savings account linked to a Kasasa Cash Back checking account, that makes saving easier than ever. The cash back and ATM fee refunds earned in the Kasasa Cash Back account are automatically deposited into the Kasasa Saver account each month. Plus, the balance in the Kasasa Saver account earns a high rate of interest.
• Kasasa Tunes - A free checking account that rewards consumers with digital downloads from Amazon.com or iTunes® every month.
To receive the Kasasa account benefits, account holders are asked to meet easy monthly qualifications, including receiving an E-Statement, making a minimum number (1) of debit card purchases, and making one electronic transaction (such as direct deposit or automatic bill pay)…things they probably already do anyway. If an account holder does not meet the qualifications in a given month, Mid-Wisconsin Bank will alert the customer, who will be eligible for the benefits the following month.
“Extensive research has shown us that consumers would prefer to do business with community financial institutions, but feel they would lose access to products,” continued Warsaw. “Kasasa is opening people’s eyes to a new banking model where no sacrifices are necessary. It’s a win-win because Kasasa account holders get innovative products and personalized service for free.”
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. 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?”
The Kasasa products are distributed through Mid-Wisconsin Bank via 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 www.midwisc.com or www.Kasasa.com/midwisconsin.
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 account holders by paying them to use their account with what interests them most—cash back, automatic savings, or digital downloads from iTunes® or Amazon.com. Kasasa, developed and distributed by BancVue, marries innovative banking products with the personal touch of community financial institutions. For more information, visit www.kasasa.com.