Why
% of new checking accounts opened at Fintechs in 2024
44%
True or False: everyone gets the rewards in Kasasa powered accounts
False, only those qualifying
The below cap rates on High Yield Checking
2.25%, 4.00%, 5.00%
What does FRAN stand for?
Free
Rewards
Ask to Qualify
No penalties
High Yield Savings should only be targeted to who
Every one
What can you get at a community credit union that you can't at a mega or Fintech
the human connection...You
The # of POS transactions to post and settle to qualify in Cash Back and Principal level of High Yield Checking
12
The cap on High Yield Checking
$25,000
How much in rewards has GKCU given out?
$626,609
This is the primary driver for deposits
High Yield Checking
Why do credit unions matter to their communities?
This saves you $2/acct/mo
eStatement
Max Cash Back I can get per month
$7.50
What you should do when you get an objection?
Ask why. Get to the root cause before trying to give a rebuttal
This is the primary driver for NII and engagement
Cash Back
3 ways Kasasa accounts are better than others for the CU
1. Higher Avg. balance
2. More POS
3. Younger
4. Longer life-cycle
5. More products
6. Profitable
This creates stickiness
ACH/DD
What I get if I don't qualify
0.05% in High Yield Checking
0.01% in High Yield Savings
Nothing in Cash Back
Why are Kasasa products a Win-Win
Rewards consumers, and makes or saves the credit union money
This is the above cap rate in both High Yield Checking and Savings
0.25%
Why can a 5% High Yield checking account have a lower cost than a 5% CD
Breakage on the cap, only those qualifying get the 5% rate
How do you qualify for the Enhanced and Premier tiers in High Yield Checking
eStatement, log into OLB
+
20 POS; or
20 POS and active secure loan
Avg. balance that determines whether High Yield or Cash Back is better for the consumer
$2,800
Who determines if Kasasa is successful at Greater Kentucky Credit Union
YOU
Reasons for the credit union why Saver should be added to every account?
- Higher avg. balances
- More POS
- Deeper product penetration
- Stays on avg. 2-years longer