The Local
The Local has been serving members within Michigan since?
1949
True or False: Everyone gets the rewards in their Kasasa accounts no matter what.
False, only those qualifying
What are the rewards on the Kasasa Cash account?
3.00% up to $15,000; $25 ATM withdrawal fee refunds
What does FRAN stand for?
Free
Rewards
Ask to Qualify
No penalties
What can a consumer get at a community financial institution that they can't get at a mega, online bank?
Authentic customer service - YOU!
The LOCAL: serves middle class working families with middle class workers.......part of something different while supporting fellow union brothers & sisters.....
The Local serves proud union workers whose union locals are headquartered in which counties?
Wayne, Oakland, & Macomb
The # of POS transactions, to post and settle, to qualify
12
What are the rewards on the Kasasa Cash Back account?
3% on debit card purchases, up to $9 cash back each month; $25 ATM withdrawal fee refunds
What should you do when you get an objection?
Ask why. Get to the root cause of the concern before continuing the conversation:
1. Seek to understand, ask & educate
This product is the primary driver for deposits
Kasasa Cash
What is The LOCAL's routing number
272485194
When mentioning qualifiers, what is the proper way to position them?
We ASK you to... Not you are required to, have to, stipulations, etc.
On average, how many more times do Kasasa The LOCAL members use their debit cards vs non-kasasa members?
NEED TO UPDATE *********15 vs 42
or basically 1/3
Who was in the lobby helping with quotes on shoot the p**p was happening?
Jim from Insurance.
On average which account has more debit card usage?
Kasasa Cash Back
What was the original UAW # that met to form a credit union (proud to be a number)?
UAW Local 228
True/false: the 12 debit card purchases/transactions must be in person purchases only
False: all purchase transactions count
Why can a 2.25% checking account have a lower cost to YOUR FI than a 2.25% CD?
Double breakage; you ask members to do things (that they probably are already doing) that make or save the CU money) and reward them for that relationship & there is a cap to that reward.
- qualifiers
- cap
Why is this program a Win-Win
Rewards consumers
Makes or saves the CU money
- higher avg. balance
- younger
- more POS and eStatement adoption
- stickier
- deeper product penetration
-longer relationship with the CU
What happens if I don't qualify?
It's still a free account and you can try again next month, plus in Kasasa Cash you get 0.05% on your balance
What is the length of the longest tenured employee?
_________????
How can The LOCAL afford to give these rewards to members?
By asking members to do things (they are probably doing elsewhere - or would be willing to do for the rewards) that make or save the CU money.
What is the purpose of Kasasa Cash and Kasasa Cash Back accounts?
Building EPIC relationships
-primary relationships
The amount of Kasasa rewards The LOCAL has given back to their customers since 2019.
$1,370,315
This is the average daily balance that determines whether Kasasa Cash or Kasasa Cash Back is better for the consumer.
$3,600