COATESVILLE — A local bank is making the argument that it matters where you bank, and the difference can literally be quite rewarding.
Coatesville Savings Bank is asking consumers, “Do you Kasasa?” as it becomes the most recent financial institution in Pennsylvania to launch an innovative financial product, one that rewards customers for using their account to pay for the things they use most.
Kasasa® is a new brand of free checking and savings accounts that rewards consumers for using their account with what interests them most—high interest, cash back, automatic savings or digital downloads from iTunes® , Google Play ® or Amazon.com®. These accounts, combined with the personal service that only community financial institutions can deliver, are offering residents a better banking option than the megabank experience.
“Consumers deserve to have a meaningful banking experience, without the nightmare of megabank fees and mistreatment. We are pleased to offer these unique, free accounts to our community,” said Frederick Henrich, President at Coatesville Savings 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 based financial institution.”
Heinrich said that Kasasa is simple to use, with no hoops to jump through to get rewards.
“Our Kasasa accounts are designed to provide all customers, regardless of where they live, with a first-class, rewards checking product,” he said. “They have been designed so that qualifying for the rewards is very simple, too. If you use your CSBank debit card 12 times per month, enroll in Internet Banking, and receive electronic statements, you qualify! It doesn’t get any easier than that.”
Heinrich said while many big banks don’t value their customers, but as a locally-owned and operated bank, Coatesville Savings Bank does and wanted to demonstrate that fact.
“Many people already meet these qualifications where ever they bank, but nobody ever bothered to reward them,” he said. “That’s where CSBank is different. We’ll pay you to bank the way you already bank.”
He noted that the program isn’t just designed for big-dollar customers as some banks seek to service, but the normal folks that in and around Chester County.
“We also understand most people don’t have high balances in their checking accounts,” Heinrich said. “So we’re rewarding lower balance customers, too. It really is a hard deal to beat.”
CSBank are offering three choices of rewards for qualified customers:
· First, the Cash account pays a super-high rate of interest, 2.00% APY on balances up to $50,000.
· Second, the Cash Back account pays 2.00% back on debit card purchases up to $8.00 per month.
· And third, the Tunes account gives your credits toward Apple iTunes, GooglePlay, or Amazon.com purchases.
And, unlike a lot of other banks, they’ll help cover ATM fees incurred while using other banks machines. On all of these accounts, if a customer qualifies, CSBank will refund up to $20.00 per month in ATM fees you may incur at other bank’s ATMs.
Heinrich said it’s something CSBank is doing to show how it values it’s customers.
“We’re offering these accounts because our customers are special to us,” he said. “They are more than account numbers, dollars, and cents. Each of these accounts is free, pays great rewards, and help to demonstrate our commitment to our customers. And speaking of commitment, we also offer two additional free services that will help our customers help themselves:
· Kasasa 360 – an incredibly powerful personal financial management tool to help our customers plan, budget, and track where they spend their hard-earned money. Actually, this is available to anybody whether they are a customer or not through our website atwww.coatesvillesavings.com
· Money Island – a fantastic interactive adventure for younger members of our community to help them learn important money management concepts while saving our hero, Stone Broke. This free service provides parents, teachers, and group leaders with lesson plans, tracking tools, and other helpful hints to help make learning about finances both fun and rewarding.
Coatesville Savings Bank is offering four Kasasa financial products, including Kasasa Cash®, Kasasa Cash Back™, Kasasa Saver® and Kasasa Tunes®. All Kasasa products are free, reward-based accounts, with no minimum balance to earn the rewards or maintain the account, no monthly service fee, free online banking and ATM fee refunds nationwide.
Kasasa Cash – A free checking account that rewards consumers with high interest for every month they qualify.
Kasasa Cash Back – A free checking account that rewards account holders with major cash back on everyday debit card purchases, without points or category restrictions like the big guys. The cash back amount is based on how much a consumer spends on his or her debit card.
Kasasa Saver – A free, high interest saver account linked to a Kasasa Cash checking account or Kasasa Cash Back checking account. The interest and ATM fee refunds earned in the Kasasa Cash account (or the cash back and ATM fee refunds earned in the Kasasa Cash Back account) are automatically deposited into the Kasasa Saver account when the account holders qualify. The balance in the Kasasa Saver account also earns a high rate of interest.
Kasasa Tunes – A checking account that rewards consumers with digital downloads from iTunes®, Google Play ® or Amazon.com® when they qualify.
To receive the Kasasa account benefits, each monthly qualification cycle consumers are asked to do a few simple things like receive an eStatement, access online banking and use a debit card a minimum number of times. If an account holder does not meet the qualifications in a given month, Coatesville Savings 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 Henrich. “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.”
Kasasa is distributed to Coatesville Savings Bank 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 megabanks.
For more information on Kasasa accounts, consumers can visit www.coatesvillesavings.com/.
