Kasasa Changes the Face of Local Banking
First Hope Bank Introduces Kasasa, a Completely New Kind of Banking that Puts the Consumer First
Hope, NJ, March 21, 2011 —First Hope Bank asks consumers, “Do you Kasasa?” as it becomes the first community bank in New Jersey 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 or automatic savings. These accounts, combined with the personal service that only community financial institutions can deliver, are offering residents the best checking account option available today.
“Consumers deserve to wake up to happier days of banking and leave behind the nightmare of bank fees and mistreatment. We are pleased to be the first bank in New Jersey to offer these unique products,” said Norman Beatty, President and CEO at First Hope Bank. “Kasasa delivers what research shows people really want but believe they can’t have—great financial products with the personal service of a community bank.”
First Hope Bank is offering two Kasasa financial products, 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 rewards the consumer with 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 (such as direct deposit). If an account holder does not meet the qualifications in a given month, First Hope 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 do business with community financial institutions, but feel they would lose access to products,” continued Beatty. “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 riffing lyrical threads around the theme of “Do you Kasasa?”
Kasasa is distributed to First Hope Bank from BancVue, the leading provider of innovative products, dynamic marketing, and data-driven consulting solutions to community financial institutions nationwide.
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 digital downloads from iTunes® or Amazon.com. Kasasa, developed and distributed by BancVue, marries innovative banking products with the personal touch of community financial institutions. For more information, visit www.kasasa.com.
First Hope Bank, established in 1911, is a full-service financial institution with locations in Andover, Blairstown, Great Meadows, Hackettstown, Hope and Sparta. Known for its customer service, financial strength and stability, First Hope Bank also offers the sophisticated range of products and services found in large financial institutions including a comprehensive trust and investment services division. First Hope Bank's associates strive every day to fulfill the Bank's motto, "World class service, close to home." E-mail the bank here . For mortgages, visit FirstHopeMortgages.com .