BancVue, the parent company of Kasasa, branded checking account services meant to help both credit unions and community banks better compete against large national banks, said it will roll out its brand to consumers nationwide.
The services include high-interest checking account that requires account holders to take certain steps to be able to earn the higher interest, including at least one regular direct deposit, electronic statements, online banking and 10 debit card purchases per month. In return, members receive high interest on checking balances, with no ATM fees and free online banking and bill pay.
The company said its programs also offer different sorts of rewards for checking account and card use, including iTunes as well as using interest earned on checking in savings accounts or to support designated charities.
Austin, Texas-based Kasasa said its accounts have bought participating financial institutions $41 million in non-interest income and added 306,000 deposit accounts to their rolls, while also helping retain existing accounts.