Magnolia Federal Credit Union asks consumers, “Do you Kasasa?” as it becomes one of the first financial institutions in Mississippi 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 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 Steve Pollman, CEO of Magnolia Federal 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.”

Magnolia FCU 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 interest and ATM fee refunds earned in the Kasasa Cash account are automatically deposited into the Kasasa Saver account when you qualify. 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 e-Statement, using a debit card and making an electronic transaction. If an accountholder does not meet the qualifications in a given month, Magnolia FCU 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 Pollman. “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 Mississippi. 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 riffing lyrical threads around the theme of “Do you Kasasa?”

Kasasa is distributed to Magnolia Federal 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 Magnolia FCU or visit https://www.kasasa.com/reward-checking/find-kasasa-near-me.