First Bank Introduces Kasasa, Offering Consumers a Better Banking Option than the Mega Bank Experience
Online PR News – 28-January-2010 – – Clewiston, FL — First Bank asks consumers, “Do you Kasasa?” as it becomes the first in the Ft. Myers area 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 giving residents a better banking option than the mega bank experience.
“It’s time consumers got off the mega bank roller coaster of frustration of high fees and poor service and choose a Kasasa account from one of America’s finest community institutions like ours,” said Miller Couse, CEO at First Bank. “Consumers can now get Kasasa, which delivers what research shows consumers really want but believe they can’t have—great banking products with the personal service of a community financial institution.”
First Bank is offering two Kasasa banking products, including Kasasa Cash™ and Kasasa Saver™. 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 Saver - A high interest saver account linked to a Kasasa Cash checking account. The high interest and ATM fee refunds earned in the Kasasa Cash account are automatically deposited into the Kasasa Saver account each month. 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 eStatement, using a debit card and making an electronic transaction. If an accountholder does not meet the qualifications in a given month, First Bank 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 rather than the mega banks, but feel they would sacrifice access to products,” continued Couse. “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 First Bank's markets. 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?”
“We know that some consumers are reticent to switch banks, but Kasasa is their wake up call,” concludes Couse. “Banking can be a great experience again.”
Kasasa is distributed to First Bank 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 First Bank 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.