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Steve Reichenbach

May 22, 2018

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First National Bank introduces Kasasa as alternative to "mega" banks

First National Bank of Pandora asks consumers, "Do you Kasasa?" as it becomes the newest financial institution in Ohio to launch one of 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, automatic savings or digital downloads from iTunes or Amazon.com.

These accounts offer 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 newest bank in Ohio to offer these unique products," says Brendon Matthews, Sales Director at First National Bank of Pandora.

"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."

First National Bank of Pandora is offering three Kasasa financial products, Kasasa Cash, Kasasa Saver and Kasasa Tunes. 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.
. Kasasa Tunes - A free checking account that rewards consumers with digital downloads from iTunes(R) or Amazon.com every month.

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 (like direct deposit) - things they are likely doing already.

If an account holder does not meet the qualifications in a given month, First National Bank of Pandora will alert the individual, who will be eligible the following month for the benefits.

"Research has shown us that consumers would prefer to do business with community financial institutions, but feel they would lose access to products," said Matthews. "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 www.kasasa.com/news-and-media/advertising riffing lyrical threads around the theme of "Do you Kasasa?"

Kasasa is distributed to First National Bank of Pandora from BancVue.

For more information on Kasasa accounts, consumers can visit www.e-fnb.com or www.Kasasa.com/FNBPandora.