Win-Win
How do Account Holders Win with Kasasa accounts?
Rewards though Kasasa Cash, Kasasa Cashback, or Kasasa Saver.
The # of POS transactions to post and settle to qualify
15
The below and above cap rates on Cash
5.00% APY up to cap
0.50% above cap
Potential root causes for not wanting eStatements
- Concerned about information security
- Prefers printed for record keeping
- I don't know how
What does FRAN stand for
Free
Rewards
Ask to Qualify
No penalties
How does CVFCU Win with Kasasa Accounts?
An increase in Revenue (Non-Interest Income), Consumer stickiness, and lower cost.
This qualifier is in place to create stickiness of the account
Direct Deposit or ACH
The cap on Kasasa Cash
$25,000
Potential root causes for concerns about having to qualify
Sounds too good to be true
What's the catch
Don't want to jump through hoops
What are some ways that you can ask for commitment?
I can get that process started now for you.
Let’s get that appointment set, how does Wednesday at twelve sound?
We can begin that application now.
How do you Win as an employee of CVFCU?
Building Rapport Easier and Faster. Engage members more.
This qualification saves you $2 per account per month
eStatement
How much Cash Back I can get per cycle
$10 max
Potential root causes for not using a debit card
- Concerned about Safety or fraud
- Prefers rewards credit card
- Prefers Cash
- Don't think they can use it 15 times
- Don't understand how it works
How much in Kasasa rewards has CVFCU given out since 2023?
$95,412
3 ways Kasasa accounts are the best accounts for CVFCU
1. Higher avg. balance
2. More POS
3. Younger
4. Longer life-cycle
5. More products
6. Profitable
This encourages people to rely less on the Front Line Staff to answer questions
Online banking
What do I get if I don't qualify
Cash and Saver get a 0.05% non-qual rate
Nothing in Cash Back
Why should I have to do all of this to get the reward
We ask you to do these behaviors that will either make or save the bank money. We can then turn around and pass those rewards on to you.
Everybody
Why can a 5% Cash account have a lower cost than a 5% CD
Two discounts, one for dollars above the cap, and one for those that don't qualify.
This is how you qualify in Saver
Qualify in your checking account
What is the avg. balance that determines whether Cash or Cash Back is better for the consumer
$2,500
($2,400 x .05)= $125 $125/12= $10.42
This is the first step in handling an objection
Ask "why" to determine the root cause
Why should you add Saver to every account
- Higher avg. balances
- More POS
- Deeper product penetration
- Stays on avg. 2-years longer