A financial services company has rolled out a nationwide campaign that it hopes will help community banks and credit unions improve their competitive standing against the biggest national banks.
The Austin, Texas-based firm BancVue believes its high interest checking product, named KASASA, with components offering rewards, additional saving, and charitable giving, will give consumers a way to break through the marketing static that surrounds any discussion of checking accounts.
"We had marketing surveys that showed whenever someone offered a 'checking' product, consumers' eyes would glaze over," explained BancVue CEO Gabe Krajicek. "There was free checking, advanced checking, special checking, red carpet checking, blue carpet checking. We wanted something, a name, that would allow community financial institutions to cut through all that and KASASA does that," he said, calling the name the program's best asset.
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That appears to have been the case at the $107 million Seasons Federal Credit Union, headquartered in Middletown, Conn. The credit union has seen widespread consumer excitement about the program, with members of the public coming into branches to ask about the product and some members becoming so enthusiastic they have begun wearing t-shirts bearing the program's name.
"We have been very pleased with the strong reactions we have gotten," explained Seasons CEO Keith Wiemert.
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