Magnolia Federal Credit Union Announces New Kasasa Giving(TM) Account

Top Quote Magnolia Federal Credit Union and Members Collectively Make a Difference with New Checking Account. End Quote
  • (1888PressRelease) October 07, 2010 - Jackson, MS - Magnolia Federal Credit Union, one of the first financial institutions in the country to launch Kasasa®, the first and only collection of bank accounts that actually takes an interest in account holders, today announced the launch of another innovative Kasasa account, Kasasa Giving™.

    In addition to Kasasa Cash™, Kasasa Saver™ and Kasasa Tunes™, members can now choose a Kasasa Giving™ account. One of the most original checking accounts in the country, Kasasa Giving is a free, high interest checking account that helps consumers make charitable giving a part of every day.

    "Kasasa Giving reflects the desire of our community members to give back," said Steve Pollman, President and CEO of Magnolia. "While simply enjoying the way banking is supposed to be, a rich and rewarding experience, Kasasa Giving account holders are able to support charities that they are passionate about."

    Like all Kasasa accounts, Kasasa Giving offers free checking, nationwide ATM fee refunds, no minimum balance, no monthly fees and free online banking. The account holder earns high interest every month that is deposited in their checking account. In addition, Magnolia will donate a portion of every qualifying debit card purchase that account holder makes to their chosen charity. The more members use their debit card, the more they help the cause. Charities supported through Kasasa Giving include American Humane Association, Boys & Girls Clubs of America, and Stand Up to Cancer, and Credit Unions for Kids (benefitting Jackson's own Blair E. Batson Hospital for Children).

    Account holders receive rewards by doing a few simple things every month, like using a debit card, accessing online banking, signing up to receive monthly e-statements instead of paper, and making electronic transactions (like direct deposit). If an account holder does not meet the qualifications in a given month, the account is still free, the account holder will still earn a base interest rate, and they will be eligible the following month for the benefits.

    "Our members have embraced Kasasa products as a way to personalize banking," added Pollman. "There has been a tremendous response to our current offerings and Kasasa Giving will inevitably add additional value to banking with us."

    Kasasa was introduced to the Jackson area in March of 2010 through an aggressive, highly engaging marketing campaign. The campaign, which featured some of America's top slam poets, asks consumers, "Do You Kasasa?" In other words, Magnolia is asking members to expect more from their banking relationships.

    Magnolia offers other Kasasa banking products, including Kasasa Cash, Kasasa Saver and Kasasa Tunes:

    • Kasasa Cash - A free checking account that pays high interest in cash every month.
    • Kasasa Saver - A high interest saver account linked to a Kasasa Cash checking account. The high interest and ATM fee refunds earned in the Kasasa Cash account are automatically deposited into the Kasasa Saver account each month. The balance in the Kasasa Saver account also earns a high rate of interest.
    • Kasasa Tunes - A free checking account that gives consumers free iTunes® downloads every month.

    Kasasa is distributed to Magnolia from BancVue, the leading provider of innovative products, dynamic marketing, and data-driven consulting solutions to community financial institutions nationwide to help them win the war against the megabanks. BancVue's products have delivered more than one million customers and more than $16 billion in deposits to nearly 700 community banks and credit unions, equaling more than 5,000 branches around the country.

    For more information on Kasasa accounts, consumers can visit Magnolia FCU or

    Do you Kasasa?
    Kasasa® is the first national brand of the most innovative checking accounts available today. The accounts, offered exclusively by the finest community financial institutions, are designed to be the first and only accounts that actually take an interest in their account holders by paying them to use their account with what interests them most - high interest, automatic savings, money donated to charity or free iTunes® downloads. Kasasa, developed and distributed by BancVue, marries innovative banking products with the personal touch of community financial institutions. For more information, visit

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