Deposits are the most scarce they’ve been in over a decade, and major brands and fintechs continue to enter the game. Winning under these conditions is admittedly tough. But smart local banks and credit unions have incredible conditions to win in 2024 if they leverage their strengths.
In the midst of an epic funding gap crisis, growing low-cost core deposits is a must to survive. Taking a closer look at the advantages of high-yield checking accounts — and their unique COF discount — could be a key strategy to creating real growth in your deposit portfolio.
If this funding gap crisis has taught us anything, it’s how quickly the cost of bringing in deposits can rise, how out of balance it can get, and how that can affect profitability. Relying on Cost Of Funds data will cause you to overlook a massive revenue stream that comes with high-yield checking accounts.
Kasasa® is an award-winning financial technology and marketing services company dedicated to helping both community financial institutions and consumers experience what it means to "Be Proud of Your Money." We're known for providing reward checking accounts consumers love, the first-ever loan with Take-Backs™, relationship-powered referral programs, and ongoing expert consulting services to community financial institutions.
By working exclusively with community banks and credit unions, Kasasa is helping to strengthen local economies across the nation, building a virtuous cycle of keeping consumers' dollars where they can do the most good. Our mission is to power a network of financial institutions in all 50 states offering products and services that are clearly beneficial for the consumer and the institutions offering them.
