Why
% of new checking accounts opened at Fintechs in 2024
44%
True or False: everyone gets the rewards in Kasasa accounts
False, only those qualifying
The below cap rate on Cash
5.00%
What does FRAN stand for?
Free
Rewards
Ask to Qualify
No penalties
Saver should only be targeted to these Kasasa accounts
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
12
The cap on Cash
$15,000
How much in rewards has Riverfall CU given out?
$875,222
This is the primary driver for deposits
Cash
Why do credit unions matter to their communities?
This saves you $2/acct/mo
eStatement
Max Cash Back I can get per month
$12
Reasons why Saver should be added to every account?
- Higher avg. balances
- More POS
- Deeper product penetration
- Stays on avg. 2-years longer
This is the primary driver for NII and engagement
Cash Back
3 ways Kasasa accounts are better than others
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
Cash and Saver get 0.10%
Nothing in Cash Back
Why is Kasasa a Win-Win
This is the above cap rate in both Cash and Saver
0.50%
Why can a 5% Cash account have a lower cost than a 5% CD
Breakage on the cap, only those qualifying get the 5% rate
How do you qualify in Saver
Qualify in Cash/Cash Back
Avg. balance that determines whether Cash or Cash Back is better for the consumer
$2,879
Who determines if Kasasa is successful at Riverfall Credit Union
YOU
What you should do when you get an objection?
Ask why. Get to the root cause before trying to give a rebuttal