Cortland Banks Rewards Customers Who Use Kasasa
CORTLAND, Ohio – Cortland Banks is rewarding its customers who take advantage of the three Kasasa account options it offers with higher rates of interest, rebates and refunds, James Gasior, president and CEO announced.
This ”innovative suite of reward-based checking and savings accounts [carry] the Kasasa brand name,” said Danielle Cantrell, vice president and retail banking manager of Cortland Banks.
Cortland Banks is the first financial institution in the Mahoning Valley to offer Kasasa, she said, and already both bank employees and customers are looking to enroll.
“Customers can pick from Kasasa account options that offer incentives for doing everyday ‘banking basics’ such as swiping their Cortland Banks debit cards and logging into online banking,” Cantrell said.
To qualify for the rewards after enrolling, a customer needs either an ATM card or debit card that he uses a minimum of 12 times a month and he logs into his online banking account at least once that cycle.
The customer can enroll in Kasasa Cash, Kasasa Cash Back or Kasasa Tunes, Cantrell said.
With Kasasa Cash, Cortland Banks will pay a 2% rate of interest on the balance of the first $25,000 in his account.
With Kasasa Cash Back, Cortland will rebate 2%, up to $400 a month, on all purchases for which the customer uses a Cortland debit card.
Cortland customers who open a Kasasa Tunes account will receive an initial $20 credit with either iTunes or GooglePlay and a credit of up to $8 a month thereafter on those accounts.
Kasasa also reimburses customers of Cortland any fees they pay to use ATMs owned by another financial institution. The customer pays the foreign ATM fee at the time of the transaction and Cortland reimburses him later, Cantrell explained.
In a statement, CEO Gasior said he sees Kasasa benefiting both his bank and its customers. He expects Kasasa will increase customer loyalty and attract new customers, become a source of additional fee income and increase profitability.
The Kasasa website says 1,700 community banks and credit unions across the United States belong to the financial services network. Those customers who enroll in the program not only pay no service fees on their basic checking accounts but also receive cash back each month. The website also says that 823,422 customers at the 1,700 banks and credit unions have enrolled and they “earn 34x [34 times] more than [on] the average accounts.”
Copyright 2023 The Business Journal, Youngstown, Ohio.