CUNA Strategic Services announced a new strategic alliance with Kasasa to provide credit unions products and services to compete in today’s financial marketplace. Through the alliance, credit unions will have access to Kasasa’s free checking and savings accounts providing consumer rewards under a national brand.
“Kasasa has all the qualities we look for in a collaborator,” said Eric Gelly, CUNA Strategic Services president. “Through this new alliance, we’re able to provide credit unions the tools they need to attract and engage new members. Kasasa is a highly reputable company with proven experience with credit unions, and we look forward to a mutually beneficial relationship to further the credit union marketplace.”
Kasasa enables community financial institutions to drive new account growth, encourage accountholder engagement and increase profitability. The company’s products are customized to meet each credit union’s business needs and objectives.
Kasasa helps credit unions to stay competitive in the industry while also giving members what they want, such as higher interest rates on checking and savings accounts, cash back rewards, nationwide ATM fee refunds and more. Its premium, free, rewards-based checking and savings accounts require no minimum balance or monthly service fees. They include Kasasa Cash, Kasasa Cash Back, Kasasa Tunes and Kasasa Saver. Kasasa also helps credit unions develop marketing programs to promote new products and services to existing and prospective members.
“In today's ever-evolving environment, member engagement is a driving force of growth and retention for credit unions,” said Gabe Krajicek, CEO of Kasasa. “By working alongside CUNA Strategic Services, we can continue to provide credit unions with outstanding products and effective marketing capabilities, which will help preserve the historically strong relationships they have with members as well as ensure their long-term success.”
According to the 2015 Consumer Banking Insights Study, more than half of consumers say rewards and few or no fees on checking and savings accounts are important when choosing a community financial institution. More specifically, a 2016 Kasasa Explores survey found that 83% of millennials would switch banks if one offered more or better rewards. Currently, 423 community financial institutions offer Kasasa’s premium checking and savings accounts, representing nearly 2,500 branches across 49 states.
Jointly owned by CUNA and the state credit union leagues, CUNA Strategic Services provides credit unions with access to high quality products, services and technology through volume pricing and strategic program development. Their overarching goals are increasing credit unions’ bottom lines, adding to their peace of mind and enhancing their relationships.