Kasasa Branch Network Now 7th Largest in Nation

AUSTIN, TX--(Marketwired - Jun 24, 2015) - More than 300 community financial institutions (CFIs) have signed on with Kasasa, creating the 7^th largest banking branch network in the nation.

Kasasa, which provides CFIs with innovative products, marketing services and resources, is now in 46 states and 1,801 branch locations. To date, more than 685,000 Kasasa-branded accounts have been opened. If all of the Kasasa financial institutions were a single bank, they would be the seventh largest bank in the country, based on number of branches -- of more than 13,000 banks and credit unions in America, only six have broader retail distribution of their accounts than Kasasa.

"In today's ultra-competitive environment, community banks and credit unions need every advantage they can get," said Gabe Krajicek, CEO of BancVue, the company behind Kasasa. "Kasasa's able to provide products and services on a scale that CFIs simply can't achieve on their own. As we grow, so will the benefits we're able to provide them."

According to the 2015 Consumer Banking Insights Study, if all things were equal, 59 percent of Americans would prefer to bank with community banks or credit unions. Yet many consumers -- including 31 percent of megabank customers and 38 percent of Millennials -- say CFIs lack the products (such as free checking, rewards checking and financial management tools) they need.

Kasasa's goal is to help CFIs bridge that gap. So far, Kasasa products have paid more than $156 million to CFI customers in the form of rewards, cash back and ATM fee refunds, and 93 percent of Kasasa account holders say they love their account.

As a result, Kasasa products have generated more than $260 million in non-interest income for CFIs to date, and Kasasa accounts drive twice the annual profit of traditional free checking accounts. Additionally, Kasasa accountholders are twice as likely to use their institution's debit card.

"Our customers' financial needs and wants are always changing. We know we need to keep up with them if we want to stay relevant," said Jeff Sterling, President and CEO of German American State Bank in German Valley, IL. "Kasasa gives us the products and services we need to keep doing what we do best: serving our customers."

About BancVue
BancVue^® is the innovative leader in branded, community-powered banking products proven to drive profit and growth for community financial institutions. Their flagship Kasasa^® suite provides a comprehensive strategy that integrates breakthrough products with world-class marketing and unprecedented access to training, compliance, research, support resources, and customized consulting. This full-circle approach gives local institutions the power and resources of a national product brand that enhances their unique, existing brand and service advantage. With nearly 750 clients, BancVue is helping community financial institutions thrive even as the industry landscape presents new challenges and competitors. Learn more at BancVue.com.