Woodstone Credit Union Introduces Kasasa, a Striking Alternative to the Mega Bank Rollercoaster
Online PR News – 04-June-2010 – – Federal Way, WA — Woodstone Credit Union asks consumers, “Do you Kasasa?” as it becomes the first financial institution in Washington State 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 most—high interest and automatic savings. These accounts, combined with the personal service that only community financial institutions can deliver, are offering residents 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 in Washington State to offer these unique products” said Susan Streifel, President/CEO at Woodstone Credit Union. “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.”
Woodstone Credit Union is offering two Kasasa financial 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, account holders are asked to meet easy monthly qualifications, including receiving an e-statement, using a debit card and making an electronic transaction. If an account holder does not meet the qualifications in a given month, Woodstone Credit Union will alert the individual, who will be eligible the following month for the benefits.
“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 Streifel. “Kasasa is opening people’s eyes to a new banking model where no sacrifices are necessary. It’s a win-win because account holders 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 Woodstone 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 woodstonecu.org or Kasasa.com/woodstone.
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 - 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.
About Woodstone Credit Union
Woodstone Credit Union is a not-for-profit financial cooperative where relationships mean more. Founded in 1941 as a credit union for Weyerhaeuser corporate employees, today it still proudly serves Weyerhaeuser employees as part of its community of 12,000 members. It currently has about $93 million in assets. Headquartered in Federal Way, Washington, everyone living or working in Washington State can open an account. For more information, visit woodstonecu.org or call 1.800.334.9828 or 253.925.6800.