Hundreds of Community Banking Executives Meet in Austin to Strategize Against Megabanks
AUSTIN — JULY 25, 2012 — Today, hundreds of community bank and credit union executives from across the country gathered for the first Kasasa Family Reunion to strategize around how to take back market share from the megabanks.
The event, held at BancVue’s corporate headquarters in Austin, centered around Kasasa®, the powerful national brand of banking products offered exclusively by community banks and credit unions. The main objective of the ‘Reunion’ was to rally community financial institutions and celebrate the growing momentum behind the Kasasa movement.
Along with hundreds of executives representing community banks and credit unions that offer Kasasa, a contingent of non-Kasasa financial institutions that had been invited by their peers were also in attendance to learn more about the strategy of uniting behind a national brand to take back market share.
“I’ve been working in the banking industry for over 35 years and I never thought I would see the day when community banks and credit unions come together in mass to talk about ways to take it to the megabanks,” says Paul Peterson, CFO at Ocean Communities Federal Credit Union in Biddeford, Maine. “Kasasa has already taken off in our market and based on this year’s Kasasa Family Reunion, it’s clear that it’s also taking off all across the country.”
In addition to strategic planning, the event also celebrated the success of Kasasa. In short order, more than 300,000 Kasasa accounts have been opened, representing some $41 million in non-interest income to partner institutions. In aggregate, Kasasa partners, currently represented in 38 states, rank 17th in branch network size.
Another key part of the ‘Reunion’ involved financial institutions sharing best practices with each other, and BancVue sharing the newest developments that the community banking industry can expect from Kasasa in the near future.
“Looking around the crowd at Kasasa Family Reunion, it’s safe to say, these are the bankers who will survive and thrive over the next five to ten years,” says Gabe Krajicek, CEO of BancVue. “Kasasa has really taken off and we fully expect for that trend to continue into 2013. In short order, we’ve built a powerful network of community banks and credit unions that have united under a national brand of banking accounts. It’s just a matter of time before we catch up to the mega banks and retake market share.”
BancVue has been bringing game-changing innovations to the marketplace since its founding in 2004. With offerings like Kasasa and the latest innovation, Kasasa 360, a superior online money management platform designed to help drive revenues and facilitate more cross-sales activities, BancVue has helped its network of over 5,000 branches nationwide compete and win against the megabanks.
BancVue is the leading provider of innovative products, world-class marketing, and data-driven consulting solutions to community financial institutions across the U.S. Featuring offerings like Kasasa, a dynamic suite of banking solutions that make a difference with innovative accounts and money management tools, BancVue products are designed to deliver controlled new account growth, higher profitability, and increased customer retention. For more information, visit www.bancvue.com.