Kasasa™ Changes The Face Of Local Banking in Portsmouth

Northern Star Credit Union Introduces Kasasa, a Striking Alternative to the Mega Bank Rollercoaster

Online PR News – 07-April-2010 – – Portsmouth, VA — Northern Star Credit Union asks consumers, “Do you Kasasa?” as it becomes the first financial institution in Virginia 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, and money donated to charity. 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 Joseph Scharl, Marketing Manager at Northern Star 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.”

Northern Star CU is offering three Kasasa banking products, including Kasasa Cash™, Kasasa Saver™ 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 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.
• 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. Northern Star CU will take care of donating behalf of the consumer automatically. 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 charity.

As part of its Kasasa Giving offering, Northern Star CU will be offering a unique opportunity for local consumers. Houses of Worship is a local giving product where members can pick which religious affiliated group with which they want to donate their interest. Consumers do not have to donate to a specific church, but can choose from any church or house of worship.

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, Northern Star CU 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 Scharl. “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. 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 Northern Star 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 Northern Star CU 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.

Erin Hoffman